According to a statement issued by the MQM Coordination Committee, the decision was reversed after President Asif Ali Zardari assured (MQM) Chief Altaf Hussain of redressing the reservations of the coalition partner.

Earlier, President Zardari held a telephonic conversation with MQM chief Altaf Hussain following the boycott decision.

The boycott decision was taken over growing incidents of extortion in the business hub of Pakistan, the statment said.

Talking to media, earlier, MQM leader Haider Abbas Rizvi had stated that only President Zardari could stop extortion in Karachi.