Who Owns Pakistan - Yimg

In a communication to the author in 1993, the group maintained that " there has
been no split whatseoever and Crescent group exists in the same shape as it has
always been since its inception" but there are recent indications that for
administrative convenience rather than for some other reason the group has
been subdivided.
Crescent has the slogan of " the people who care peopel" and belongs to the
enterprising Chinioti community who have the general reputation of never
transferring their money abroad. Crescent particularly has the reputation of being
truly rooted and entrenched in the Pakistani Soil and is considered to be a
conscientious tax payers.
An article in Weekly Friday Times in the first week of April 1993 described
Crescent as " one of the oldest, largest and most distinguished business
concerns in Pakistan, an exemplary tax payers and investors of every penny
earned back into their business of the home country".
Crescent lost its shipping line with two vessels, Shams and Karim in Bhutto's
nationalization and although Crescent Investment Bank was first private sector
bank to start operations in 1990 and had set up a seperate division to take part in
privatization, it did not bid for any unit during Nawaz Sharif's privatization.
However it registered one of highest growth rate during Nawaz era and launched
a large no of new companies particularly Modarba and leasing companies during
1990-93.
S No Name
Crescent Listed Companies
Assests Turnover
1 Crescent Textile 3,159 894
2 Crescent Spinning 582 209
3 Shams Textile 556 592
4 Elite Textile 161 297
5 Crescot Mills 122 324
6 Jubilee Spinning 680 322
7 Surraj Cotton 458 533
8 Crescent Steel 676 760
9 Crescent Jute 1,007 672
10 Shakarganj Sugar 1,630 1,090
11 Crescent Board 605 457
12 Crescent Sugar 950 958
Total 10,568 7,108
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