The accused, identified as Mohd Salman (24) and Mohd Faizan (24), were arrested yesterday by the east district police.
"The duo has confessed to the killing and we have also recovered a pistol along with five live cartridges and vehicles used in the crime," said Deputy Commissioner of Police (East), Ajay Kumar.
The victim, also called Faizan, was shot dead in front of the main gate of the Gazipur Fish Mandi on Jan. 12. Police had registered a murder case and, Kumar said that "during the probe, conduct and movements of Salman and his cousin Faizan were found very suspicious".
Upon sustained interrogation, the duo confessed to their involvement in the murder and also disclosed what weapon and vehicles used to commit the crime.
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They allegedly confessed that the deceased was a competitor of theirs in the business of supplying meat to various places, including in other states.
"The victim Faizan sold meat at a very low price due to which the accused were incurring huge losses in their business. The deceased and the accused had even got into arguments several times over this and the deceased had even threatened the accused Salman with a pistol," said Kumar.