Harjeet Singh, who owns a grocery shop, was attacked by motorcycle-borne gunmen outside his shop in the congested Nothia Bazaar.
The man died on the spot and his attackers, who have not yet been identified, managed to flee the area, Dawn online reported.
Riaz Ali Shah, SHO at Gulberg Police Station, said the trader was a resident of Dabgari.
Police is investigating the circumstances around the incident and motive of the attackers.
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