The militants were killed in an encounter in Lahore on Wednesday morning.
Lahore CCPO retired Capt Amin Wains said that the five terrorists were members of a banned militant outfit, Al Qaeda (Afzaal Group).
The involvement of the killed militants was suspected in several terror acts, including a missile strike on the Pakistan Military Academy, Kakul, and attacks on army officers in Peshawar, an army camp in Gujrat, Ahmadis in Garhi Shahu, Lahore, Police Training Centre in Sheikhupura and other incidents.
They were also involved in high profile kidnappings for ransom including a relative of a senior army officer, an American citizen and two foreigners in Multan.
Two deceased terrorists Qari Saqib and Junaid Zahoor had jointly carried a head money of Rs1.5m. Other three were identified as Khan Wahid, Nasir Iqbal and Nadeem Iqbal.
CIA police on a tip off raided a house in Nawab Town at Lahore’s Raiwind road and killed five terror suspects in a shootout.
Police also seized two Kalashnikovs, 10 hand grenades, three pistols and eight time devices from the house.
According to Police the militants killed in the shootout might be involved in Lahore’s Gulishan-e-Iqbal Park blast, as maps of Gulshan-e-Iqbal, Race Course, Bagh-e-Jinnah and Sambrial were recovered from their possession.