Political violence rages in Karachi, 12 more killed

More than a dozen more people were killed overnight in Pakistan's Karachi, deepening fears of instability in the commercial hub after the killing of a member of the dominant political party in the city. Sixty-two people have been killed since Monday, police and officials said, following the assassination of Raza Haider, a lawmaker in the Muttahida Quami Movement (MQM). The government blamed Taliban insurgents, and the banned militant group Sipah-e-Sahaba Pakistan (SSP), for his killing. Some analysts said violence could ultimately hurt the already struggling economy. Karachi is home to the country's main port, the central bank and the stock exchange. Those concerns are fueled by the flight of Taliban militants to Karachi, a teeming city that is easy to hide in, after army offensives against their strongholds in the northwest. "Four people were shot dead in one incident late last night, while six to seven trucks parked under a bridge were also burned," Karachi police chief Waseem Ahmed told Reuters. VIOLENCE-SCARRED CITY Hospital sources and officials said a total of at least 12 people were killed overnight in shootings as the violence gripping the city since Haider was gunned down along with his bodyguard while attending a funeral escalated. More than 150 were wounded. The MQM has called for three days of mourning. Early on Wednesday, unknown people set fire to several mobile phone shops in a main market in the city of 18 million people. Police said more than 50 vehicles have been burned while dozens of shops torched since Haider's slaying. Dozens of people have been arrested on charges of violence, they said. Fearing more violence, most shops and fuel stations in the city were still closed on Wednesday morning. "The situation is not good. I will wait for a few hours to see how it goes and if other people in the market also open shops, then I will as well," said Muhammad Jawaid, standing outside his closed bakery. Trading was once again dull at the Karachi Stock Exchange, which closed an hour early on Tuesday amid security concerns. The main index was, however, up 0.69 percent by 11:55 a.m. (0655 GMT). "The attendance in the market is still very thin and the turnover is likely to be low again today as people are still scared," said Asad Iqbal, chief investment officer at Faysal Asset Management Ltd. Karachi has a long history of ethnic, religious and sectarian violence. It was a main target of al Qaeda-linked militants after the September 11, 2001, attacks on the United States, when Pakistan joined the U.S.-led campaign against militancy, and foreigners were attacked in the city several times. Including the killings this week, officials say at least 214 people have been killed in targeted attacks since the start of the year, although analysts and political parties say the number is likely much higher.