KARACHI: Muttahida Qaumi Movement (MQM) and Pakistan People Party (PPP) have reached an agreement over the formation of a coalition government in Sindh and seat adjustment in the upcoming Senate polls, according to a statement issued on the MQM's official website.

The accord was the outcome of a three-hour-long meeting between senior PPP leader Rehman Malik and MQM supremo Altaf Hussain in London.

Under the seat adjustment formula agreed upon by both parties, MQM and PPP would get four and seven seats in the Senate respectively.

Also read: Senate polls bring PPP, Muttahida closer again

The parties agreed on a 40-60 power sharing formula in all aspects and the MQM would soon join the treasury benches in the provincial assembly under a written agreement with the PPP.

Also read: Amid ‘rays of hope’, MQM turns guns on PPP

According to the post meeting announcement, a committee, comprising two members from each side, would be constituted to pursue the reconciliation process and improve the working relationship between the two parties.

During the meeting it was decided that both the parties would make joint efforts for the development of the province and resolution of issues faced by the people.

Rehman Malik, on behalf of PPP Co-Chairman Asif Ali Zardari, assured Altaf Hussain that this time MQM would be provided with its ‘due share’ in all departments under the 40-60 ratio.

Furthermore, a ministerial committee, comprising of members from both parties, would also be constituted for the resolution of issues related to the Sindh government. The announcement further noted that “this time, the agreement will be spelled out in black and white".

Malik and Hussain both also prayed for the eradication of terrorism from the country so it could tread towards the path of development.

The former federal interior minister told the MQM chief that, upon his arrival in Karachi, he would present a detailed report of the meeting to PPP Co-Chairman Asif Ali Zardari. He added that implementation on the accord would take place after Mr Zardari's approval.

The MQM had left Sindh's coalition government in October 2014 in response to alleged statements made against their leader Altaf Hussain by the PPP leadership.