Who Owns Pakistan - Yimg

8 Saigol 1,086
9 Naqvi 1,056
10 Zahur 1,028
11 Abdullah Al-Rajaih 1,031
12 Ghani 903
13 Habib 845
14 Adamjee 832
15 Hashwani 640
16 Arabian Sea Enterprise 626
17 Sargodha 581
18 United 501
19 Chakwal 441
20 Dawood 376
21 Bawany-Alnoor 352
22 Fateh 213
23 Packages 166
24 Colony 81
Total 25,389
Top four defaulters are common in lists published by Benazir and Meraj Khalid
adn 24 individuals and families are defaulting in the payments of Rs 26.7 billion
to the nationalized commercial banks and financial institutions. Mian Aftab
Ahmad of Fazalsons and Habib Bank Gujranwala merit a special place in the
history of banking frauds in Pakistan.
Mian Aftab Ahmad, a Professional Loan Defaulter
Mian Aftab Ahmad was the eldest son of Mian Fazal Ahmad, a Chinioti
businessman who set up Central Cotton Mills which became the nucleus of
Fazalsons group. By the time he died in mid-1970's his empire inherited by wife
Sughra Begum and three sons, Aftab Ahmad, Muniar Ahmad and Gulzar Ahmad,
comprised several mills.
Apparently, sometimes after his father's death, Aftab Ahmad found that cheating
the banks was far more profitable than earning livelihood industriously. Very soon
there was no bank from whom he had not borrowed, by pledging the same
collaterals. He got 11 loans worth Rs 1,192 millions from Habib Bank Limited,
circle A-1, Karachi only. After the publication of the defaulters list by Moeen
Qureshi, Mian Aftab Ahmad managed to dispose off his assets and is living off
comfortably in Europe, operating a hotel he has set up with money siphoned from
Pakistani banks.
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