Ransom to be paid on May 16

A total of $2.1 million in ransom money is going to be paid to the Somali pirates.

KARACHI: Somali pirates will be paid the ransom by May 16 to secure the release of four Pakistani men held hostage. Ansar Burney negotiated this settlement on Monday.

The hostages are expected to return home by the end of May and the ship will be docked at either Mombasa, the Suez Canal or Karachi.

Earlier, the pirates had earlier given time till May 3 to pay the ransom. A total of $2.1 million will be sent to the pirates through the Ansar Burney Trust account and will delivered by a private shipping company, which has contributed $1 million.

Pakistan's contribution to the ransom is $600,000, while India has contributed $500,000.