Who Owns Pakistan - Yimg

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conference in Islamabad, on March 2, 1994, Khalid Siraj, a cousin of prime minister claimed that the assets of the seven brothers were valued at Rs 21 billion. The units in Ittefaq as identified by H U Beg Committee included three listed companies, 12 unlisted public companies and 4 private limited companies. The Friday Time issue of April 25, 1997 reported that the Sharif group of Mian Mohammad Sharif has started work on Kashmir Sugar Mills and Bashir Sugar Mills for which it was seeking hefty loans from commercial banks. Work is also in progress over a sprawling New Sharif Medical City, opposite the big residential farm of the Sharif family on the Rai Wind Road. The group is also working on Yousaf Aziz Sugar Mills at Kasur and another at Shah Kot. According to agreement reached in Lahore High Court by members of the family sometimes in 1996, the House of Ittefaq has split in two groups. The first comprised of the families of Mian Mohammad Sharif, Mohammad Shafi, Barkat Ali, Yousaf Aziz and Idrees Bashir while the second group comprised of the families of Meraj Din and Siraj Din. Members of the Ittefaq group are currently operating in three groups namely Sharif Group, Ittefaq Group and Haseeb Waqas Group. The three groups have only four companies listed on the KSE. Listed companies S. No Names Assets Turnover 1 Ittefaq Textile Mills - - 2 Brothers Textile Mills 262 - 3 Khalid Siraj Textile Mills 228 239 4 Haseeb Waqas Sugar 1,163 901 Unlisted Companies Sharif Group 1. Ittefaq Textile 2. Mehran Ramzan Textile 3. Brothers Textile Mills 4. Ramzan Baksh Textile Mills 5. Mohammad Baksh Textile Mills 6. Hamza Spinning Mills 7. Ittefaq Sugar Mills 8. Ramzan Sugar Mills 9. Chaudri Sugar Mills 10. Ittefaq Foundry (Pvt) Ltd 11. Brothers Steel Mills 151
12. Ittefaq Brothers (Pvt) Ltd 13. Ilyas Enterprise 14. Hudaibiya Paper Mills 15. Hamza Board Mills 16. Hudabia Engineering 17. Khalid Siraj Industries 18. Ali Haroon Textile Mills 19. Hanif Siraj Textile Mills 20. Farooq Barkat (Pvt) Ltd 21. Abdul Aziz Textile Mills 22. Barkat Textile Mills 23. Sandalbar Textile Mills 24. Haseeb Waqas Rice Mills 25. Sardar Board and Paper Mills 26. Model Trading House (Pvt) Ltd Haseeb Waqas Group 1. Haseeb Waqas Sugar Mills 2. Haseeb Waqas Engineering 3. Haseeb Waqas Farms Ltd 4. Haseeb Waqas Rice Mills Ltd Source: Assets declared by Nawaz Sharif in the 1997 elections. H U Beg Committee and list of units in the Ittefaq group provided by Khalid Siraj at his press conference on March 2,1994. Chakwal The founders of Chakwal group migrated to West <strong>Pakistan</strong> in 1971 from East <strong>Pakistan</strong> and set up Chakwal Textile Mills at Chakwal, a small city in Northern Punjab near Rawalpindi. Today it has grown into multlimillion rupees conglomerate owning and operating at least 15 companies including several textile mills, a privatized cement plant, a polyester fibre plant and Commercial Bank, Fidelity Investment Bank and Trust Leasing. According to Business Recorder of February 8, 1998 the group was facing fraud charges in the Special court of crimes in Banking Circle, Karachi for defrauding National Investment Turst (NIT) to the tune of Rs 288 million by showing inflated value of Chakwal Cement to get NIT units. Khawaja Mohammad Javed is the chairman of the group and is related by marriage to Mian Mohammad Mansha and Tariq Saeed Saigol. 152
Page 1:
Who Owns Pakistan By Shahid-ur-Rahm
Page 4 and 5:
G: UBL Privatization Bid ..........
Page 6 and 7:
Pakistan's Robber Barons ..........
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A Brief introduction - For those wh
Page 10 and 11:
Prologue "I Nawaz Sharif, do solemn
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Nawaz Sharif was not an individual.
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A white paper on " Economy under Bh
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The first Nawaz government was foll
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Another remarkable person mentioned
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Dawood lost Karnaphuli Paper Mills,
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disprove that bulk of the banking a
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perpetuated their control over the
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Kohat Cement, Dandot Cement and Tha
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Earlier in this chapter, we have li
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Insurance companies of 22 families
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Born in Rangoon, M A Rangoonwala ha
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Crescent was a joint venture of fou
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Privatization - Turning the Clock B
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day Privatization Conference in Isl
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Independant Resource Group (IRG) of
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companies, management was to be tra
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Accelerated privatization under a f
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Finance Minister took a conscious d
Page 48 and 49:
clauses and buyers have committed b
Page 50 and 51:
22nd May, 1989 suggested a strategy
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Pakistan Petroleum Limited (PPL) to
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group but thanks largely to the ala
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caretaker govt. to recover Rs 1,500
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Pakistan, had incorporated Muslim C
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Cement for Rs 137 million and Rs 18
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5-star hotel. Bhutto who had planne
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For example, PSL is being managed b
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According to the Khalid Anwar, Burm
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also been assigned to the shelves o
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32 Harijanss 61 - 61 33 Shafi 60.2
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21 Sargodha 2,743 -- 22 Al-Noor 2,5
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had opened their offices in Japan,
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East, REDCO Textile Mills and Const
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4 billion and a roaster of impressi
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The geographic location of the comp
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Haroon's great grandfather had migr
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Gujrati and tended to be organised
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9 Karim 3 10 Hasham 2 11 Latif Jama
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At present, the Kaiser Monnoo group
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Sugar Mills and Samundri Sugar Mill
Page 92 and 93:
" The days immediately after nation
Page 94 and 95:
fortunes which were multiplied, in
Page 96 and 97:
the pioneer Muslim industrialist in
Page 98 and 99:
According to Lawrence White, top se
Page 100 and 101:
Beginning of Bad Loans Bhutto's nat
Page 102 and 103:
Jang, Rawalpindi of December 14, 19
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8 Saigol 1,086 9 Naqvi 1,056 10 Zah
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10, 1997, the Supreme Court observe
Page 108 and 109: Prime Minister Nawaz Sharif will gl
Page 110 and 111: specific tax holidays. It was not c
Page 112 and 113: This decision is based on personal
Page 114 and 115: oil". It is not difficult from the
Page 116 and 117: In the fiscal year 1991-92, Messers
Page 118 and 119: 21 Hussain Nawaz Sharif 3,285,6813
Page 120 and 121: The voiceless small investors have
Page 122 and 123: Chapter Four - Pakistan's Tax Web P
Page 124 and 125: 28. Ushr 29. Oilseeds Development C
Page 126 and 127: political heavyweights or their hen
Page 128 and 129: Export Duties It is one of the most
Page 130 and 131: Capital Gain Tax As is evident from
Page 132 and 133: Law Authority will soon seek public
Page 134 and 135: Chapter 5 - Money and Politics Elec
Page 136 and 137: Some of the known units of Saifulla
Page 138 and 139: These charges were peanuts when vie
Page 140 and 141: In the references about Lakeview Ho
Page 142 and 143: Epilogue For several years, the peo
Page 144 and 145: One wonders how a government that c
Page 146 and 147: accustomed to buying his casual out
Page 148 and 149: 141
Page 150 and 151: chemicals, synthetic fibres, cookin
Page 152 and 153: Iqbal Saigol S. No Name Assets Turn
Page 154 and 155: In a communication to the author in
Page 156 and 157: Dewan Listed Companies S. NO Names
Page 160 and 161: Listed Companies S. No Company Asse
Page 162 and 163: when the Rserve Bank of India faile
Page 164 and 165: 10. Noble Computer Services (pvt) L
Page 166 and 167: Syed Maratib Ali was a well known n
Page 168 and 169: Unlisted Companies 1. Clearance and
Page 170 and 171: Akbar Hashwani 1. Hashwani Construc
Page 172 and 173: Dawood Cotton Mills was set up in 1
Page 174 and 175: 5. Margalla Textile 6. Rawal Textil
Page 176 and 177: Lakhani (Lakson) Lakhanis have grow
Page 178 and 179: 6 Husein Sugar 358 560 7 Shadman Te
Page 180 and 181: Unlisted Companies 1. Ibrahim Agenc
Page 182 and 183: 4 B F Modaraba 16 16 5 Bawany Air 5
Page 184 and 185: Financial Assets 5 Schon Bank 1,994
Page 186 and 187: Mian Mohammad Ismaeel Sheikh was a
Page 188 and 189: 1 Mubarik Textiles 346 119 2 Fatima
Page 190 and 191: 1 K S B Pumps 343 385 2 Adamjee Pap
Page 192 and 193: Independently his group has four co
Page 194 and 195: Bibliography 1. 50 years presentati
Page 196 and 197: 63. The sick industary therapy, art
Page 198: 29. Hotelier in Pakistan looks for
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