The journalists, identified as Syed Tariq Hussain and Aslam Raja, were killed when unidentified men on a motorcycle opened fire on them near Saifee College.
Police reached the scene and the men were shifted to Abbasi Shaheed Hospital where they were pronounced dead on arrival.
The assailants fled the scene.
Attacks on journalists have increased in recent days.
Earlier, the head of the UN agency tasked with defending press freedom called on Pakistani authorities to investigate the killing of two journalists and bring the perpetrators to justice.
Abdul Khaliq, also known as Abdul Haq Baluch, was shot dead on 29 September, in Khuzdar, Balochistan. Mushtaq Khand, was killed in Khairpur, Sindh, on October 7.
Earlier, Reporters Without Borders expressed alarm over rising threats to the lives and safety of journalists working in Pakistan, ahead of the United Nations’ Universal Periodic Review of Pakistan, the organisation said in a statement.
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