Chasing a reachable target of 175 in 40 overs, NED were bowled out for a measly 41 in 25 overs on a rapidly deteriorating pitch which totally assisted the spinners from the onset.
Karachi University's quartet of slow bowlers, led by slow left-armers Rizwan Qureshi and skipper Adnan Kalim, never allowed the NED batsmen to get on top on a dusty track.
NED collapsed dramatically losing wickets at regular intervals, including three wickets for no runs which left them tottering at 24 for five as the all-spin Karachi University attack took command.
NED opener Faisal Abbas was the solitary batsman to enter doublefigure, striking two boundaries in his 12. Tail ender Atif Irfan hit the only six of the day when he hoisted Adnan Kalim over the mid-wicket fence in the final over of the match.
Rizwan Qureshi captured three for 13 in seven overs to follow his knock of 32 in Karachi University's innings and was deservedly named man-of-the-match.
Adnan Kalim picked up three for 14 in seven fours with fellow left-arm spinner Asif Ghauri and off-spinner Haaris Ayaz took one wicket apiece. Haaris also fielded brilliantly to effect two run outs with direct hits.
Earlier, Karachi University took advantage of winning the toss to make 174 for nine in their allotted quota of 40 overs.
Openers Maisam Hasnain (24 with four fours) and Shadab Kabir (11) gave their side a reasonable start by putting on 39. Ahmer Saeed (18) and Atiq-uz-Zaman (13) added 31 for the fourth-wicket.
However, NED off-spinner Ali Ahmed Khanzada brought his side back into the match by dismissing Ahmer, Atiq and Rizwan Qayyum in quick successions to leave Karachi University in considerable bother at 83 for six in the 20th over.
But a defiant seventh-wicket partnership of 56 in 13.4 overs between wicketkeeper Ahmed Zeeshan Malik (20 with three fours) and the left-handed Rizwan Qureshi, who also struck three fours, lifted the total to 139 in the 33rd over before both were run out.
Asif Ghauri (19 not out with four fours) and skipper Adnan (five not out) shared an unbroken partnership of 26 for the last wicket to boost their side to a final tally of 174 for nine.
Ali Ahmed Khanzada bowled exceedingly well to snap up three for 33 in eight overs while medium-pacer Atif Irfan claimed two for 29 in seven overs with Faisal Abbas and skipper Sabeehuddin took one wicket for 20 and 39 runs respectively. Off-spinner Zubair Ayub, though wicketless, conceded only 24 runs in his quota of eight overs.
Current Test umpire Salim Badar supervised the final along with ex-Test umpire Mahboob Shah.
Summarised scores:
Karachi University beat NED University of Engineering and Technology by 133 runs at NED Ground.
Karachi University 174 for nine in 40 overs (Rizwan Qureshi 32, Maisam Hasnain 24, Ahmed Zeeshan Malik 20, Asif Ghauri 19 not out, Ahmer Saeed 18, Atiq-uz-Zaman 13, Extras 25; Ali Ahmed Khanzada 3-33, Atif Irfan 2-29); NED University of Engineering and Technology 41 in 25 overs (Faisal Abbas 12; Rizwan Qureshi 3-13, Adnan Kalim 3-14).