Faisal was found hanging from a ceiling fan in a government hostel on January 18, three days after the Supreme Court ordered Prime Minister Raja Pervez Ashraf's arrest over a long-running scandal into the Rental Power Plants.
The initial findings of an autopsy said Faisal committed suicide, but his family and some of his colleagues believe he was murdered.
"We have exhumed Kamran Faisal's body for an independent examination," Rana Naseer Ahmed, head of a six-member forensic team, told AFP.
"Punjab Forensic Science Agency sought the exhumation of the body after a controversy was developed on the initial post-mortem report," he said.
Another official said that the body was exhumed to determine whether Faisal committed suicide or if it was a murder.
"We are supervising the process of exhumation of the body to reach at a conclusion whether it was a suicide or murder," said Muhammad Shafiq, a local magistrate.
The long-running corruption probe relates to allegations of kickbacks during Ashraf's tenure as minister for water and power.
The anti-corruption watchdog has suspended the investigation pending inquiries into Faisal's death.
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I BELIEVE ON ALLAH JUSTICE. INSHALLAH ALL OF US SEE THE TRUTH
The fate of honest in the country - you lose life and your privacy beyond the grave! May the ones who sought protection with this honest man dead, never find peace and dignity .
Rest in Peace (!) Dear Kamran.
May justice always prevail!