Karachi: At least 17 people have been killed in three days of political violence in Pakistan's commercial capital Karachi, police said Monday.
Karachi police chief Waseem Ahmad said the violence erupted on Friday, when activists of the Muttahida Qaumi Movement clashed with those of the Awami National Party.
While investors in Pakistan have got used to almost daily Islamist violence in the northwest, bloodshed in Karachi has a more direct impact on financial market sentiment.
"At least 17 people have been killed in three days," Ahmad said.
An International Monetary Fund loan package of $7.6 billion (Dh27.8 billion) agreed to in November 2008 helped Pakistan avert a balance of payments crisis and shore up reserves. The IMF increased the loan to $11.3 billion in July last year.
About 67 people have been killed in political violence in Karachi since the start of 2010, according to police. Gangsters and the drug mafia have taken advantage of the tension, officials say, increasing the chances that violence could get worse.
The city of around 18 million is home to the central bank and main stock exchange and is also the country's main industrial base.
