The killing of Maulana Masood Baig comes three days after Shia leader Allama Ali Akbar Kumaili and his guard were shot dead in the city.
Police said that Baig who was a scholar and teacher at the Jamia Binoria Al Almia in the city was attacked by four armed men on motorcycles in the Nazimabad area.
Three bullets hit him in the head and chest. Baig succumbed to his injuries shortly after the incident.
He was the son-in-law of noted cleric and head of Jamia Binoria, Mufti Naeem.
The menace of sectarian killings has once again emerged in Pakistan's biggest city in the last month with more than a dozen people being targeted despite an ongoing operation by paramilitary rangers.
