What might be termed as one of the biggest robberies of recent years in Karachi, two private security guards looted over $1.2 lakh (Rs 12 million in Pakistani currency) from a company van on Thursday.
Sanaullah and Sabz Ali working at Al-Sahara Exchange Company looted its van after it had collected cash from different branches in the city, Dawn news reported.
The exchange company officials confirmed in their initial statement that they were deprived of Rs 12 million.
"The van was on its way to the Clifton branch when the guards overpowered the staff and looted the money. They then travelled in a different vehicle," said SP Clifton Asad Malhi.
The police set-up check points on the probable routes taken by the robbers, who abandoned their vehicle near the Shireen Jinnah Colony area of the metropolis, added the police official.
One of the guards was hired by the security company around one week ago.
"The suspect guard was appointed by the security company without his proper verification," police said.
The police official added that initial investigations suggest the guards have no links with any militant outfit.
The money changer and driver of the cash van have been detained for interrogation while the police have established a special team to arrest the suspects.
The biggest robbery in Pakistan had also taken place in Karachi in December 2009 when robbers took away Rs 311 million from a bank.