The body of the victim, identified only as Col. Imam, remained in the hands of Taliban militants who abducted him and two others in North Waziristan nearly a year ago, Imam's family GEO news.
Imam, a one-time official of the Inter-Services Intelligence, was abducted in March along with another former officer and British journalist Asad Qureshi.
Quershi was later released and the other retired ISI officer, Khalid Khawaja, was killed and dumped along a road in Miranshah.
SAMAA television said its sources reported that Imam's family was unable to come up with the ransom demanded by a faction of the Tehrik-e-Taliban Pakistan.
Notable deaths of 2014 [PHOTOS]