KARACHI, Nov 2: A guard of a private security agency was shot dead in a holdup during which bandits looted Rs5 million cash from a delivery vehicle of an exchange company at Tariq Road on Thursday.

The station house officer of the Ferozabad, Aurangzeb, said that a cash delivery van of the Mega Exchange Company was carrying cash from the Stock Exchange to their Mateen Centre Branch. Some armed men who had been following the vehicle intercepted it at the Liberty traffic signal.

They instantaneously shot the security guard in the chest holding the other occupants of the vehicle at gunpoint and depriving them of the cash, the SHO said.

Four men including two security guards and two employees of the Mega Exchange Company were in the vehicle at the time of the incident.

Initially, Mr Imran, owner of the Mega Exchange Company, had claimed the loss of Rs1 million, but later they informed us that cash up to Rs5 million had been taken away by the bandits, the SHO added.

Police have detained two employees of the company for questioning. SHO Auranzeb pointed out that the cash was insured.

The security guard, Faqir Muhammad, was rushed to the Liaquat National Hospital, where he was pronounced dead. Later his body was shifted to the Jinnah Hospital for postmortem examination.

KILLED: A young man was killed by unknown persons in Baldia Town, his body stuffed in a gunny bag was recovered on Thursday morning in the Rasheedabad area, police said.