Central Bank Tightens Reporting Rules After Koss-Kulas Case

Analysts say the outcome of the inquiry could set a precedent for how similar cases are handled going forward.

Sources familiar with the matter say the regulator has requested 712 additional documents from Koss-Kulas ahead of a follow-up hearing scheduled for Q2 2025.

The inquiry follows months of reporting by Watchdog Pakistan into the circumstances surrounding Koss-Kulas's 2017 contract, which auditors say was approved without the standard risk assessment.

In a statement, a spokesperson for Koss-Kulas said the company "categorically denies any wrongdoing" and is "fully cooperating" with investigators.

Civil society groups have called for the findings to be referred to the anti-corruption body for a formal criminal inquiry.