Who Owns Pakistan - Yimg

Nawaz Sharif was not an individual. He symbolizes a state of mind contrary to Z
A Bhutto and his philosophy and thought's were born out of ashes of Bhutto's
autocratic rule, particularly nationalization policy. Even if, by a magic wand
Nawaz Sharif was to disappear from Pakistan's politics, somebody like him would
always be there to lead the powerful allied forces opposed to Z A Bhutto and his
philosophy.
It was on Oct 24, 1990, that I took first small step for the accomplishment of my
self-assigned task by writing two letters, one addressed to Prof. Gustave
Papanenk of the Boston University and the other to Prof. Lawrance White of the
New York University. The two were well-known for their exhaustive study about
the 22 families in Pakistan in the pre and post nationalization periods.
In my letters I told them about my intentions to update their work and sought their
advice. Papanek responded and among other things suggested that while
ranking the 22 families, I should also find out the worth of their unlisted public
and private limited companies, since the previous studies were based on the
assests held by these groups on Karachi Stock Exchange (KSE). That was a tall
order that I have accomplished only partly and hope that some other enterprising
and more resourceful journalist would follow it up.
Next I wrote letters to the 22 families, stating that I wanted to write about the
poineers of industarial development in Pakistan and would they care to provide
me some literature about their groups and ancestors who had founded them. I
got only three responses.
Even my bids to meet Farooq A Shaikh and Sadaruddin Hashwani who reside in
the twin cities of Rawalpindi and Islamabad failed. It was only while I was finally
brushing my books I managed to meet Shaikh and Hashwani, besides Nasim
Saigol and Razak Dawood after hectic chase. Despite telephone calls I failed to
meet Mian Mansha who was the one man I wanted most to meet because his
Nishat group has emerged as Pakistan's biggest group in my ranking. I decided
therefore, at the outset that instead of trying to meet the members and leaders of
22 families, I will talk to people around them, their present and former
employees, officials and people in the corporate sector, who might have worked
and dealt with them.
I have been reporting economic affairs for nearly thirty years and have covered
all the federal budges, except in 1980 when I was abroad. During 1971-77,
Pakistan People's Party, government of Z A Bhutto, I had rapport with Feroz
Qaisar, special assistant to Prime Minister and Rahim Jan, Chairman, Corporate
Law Authority ( then called Securities and Exchange Authority of Pakistan or
SEAP). They were always ready and willing to talk and listen. It was mainly
through listening to them that I developed interest in the working of the corporate
sector.
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