The victim student Rana Ammar was shot dead by two assailants involved. Both involved in the in the shooting were also students of the university.
The murder occurred within the university's premises, near the Sports Gymnasium. Police revealed that Ammar was shot in the chest and leg.
The suspects Huzefa belonged to Botany and Dilawar belonged to Gender Studies students.
Both had a previous altercation with Ammar just days before the incident.
The police are investigating the reasons behind the fight, and Dilawar, one of the suspects, reportedly took Ammar to the hospital after the shooting.
Police authorities have recorded Dilawar's statement and are planning to apprehend Huzefa shortly.
Read more: Punjab University student shot dead: Two suspects named in FIR