According to AEC Chief SSP Chaudhry Aslam, the arrests were made during a raid in the Sultanabad area near Manghopir Road.
The suspects, identified as Hameedullah, Amerullah, Iranullah and Yasin, were involved in several crimes in the city.
The police recovered four TT pistols and two hand grenades from their possession.
Further investigation is underway.
Earlier, the AEC rounded up arrested three weapon smugglers on and seized guns, ammunitions and drugs in their possession.
The AEC officials found caches of weapons and drugs from the bus, including 30 hand grenades, five Kalashnikovs, 12 repeaters, five pistols, a light machine gun, 160 kilogrammes of hashish and hundreds of bullets.
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