Who Owns Pakistan - Yimg

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Earlier in this chapter, we have listed some projects abandoned by the big business, half or three quarters complete because nationalization order excluded private sector from operating in certain industrial fields. These projects mainly related to manufacture of tractors, automobiles and fertilizers which were capital intensive and employment generating. The sponsors of these gigantic projects resigned themselves in the post-Bhutto era to become traders or at best spinner of yarn and processor of sugarcane. The sweep of nationalization, its impact on the psyche of the big business and thus on Pakistan's industrial development can not be comprehended without taking a look at the taken-over industries, companies and their ownership. In six traumatic years of Z A Bhutto, 31 key industrial units, 13 banks, over a dozen insurance companies, 10 shipping companies and two petroleum companies were nationalized, out of which at least 22 industrial units, 9 banks, 9 insurance companies, 3 shipping companies and 2 petroleum companies belonged to the 22 families. Nasim Saigol claimed in the interview with the author that Saigols lost 70% of their assets in Bhutto's nationalization. Following is the list of industaries and companies nationalized by Bhutto and the groups owning them. 31 Key Industries Nationalized in 1972 Units taken over in Karachi 1 Steel Corporation of Pakistan Fancy 2 Hyeson's Steel Hyesons 3 Ali Automobiles Jaffer Bros 4 Kandawala Industries 5 ROK Industries 6 Haroon Industries Haroon 7 Wazir Ali Industries Packages 8 Gandhara Industries Bibojee 9 Indus Chemical and Industries 10 Valika Cement Valika 11 Karachi Gas Fancy 12 Valika Chemicals Valika 13 Karachi Electric Fancy-Jaffer Bros 14 National Refinery 15 Pakistan Fertilizer Corporation Jaffer Bros 21
Units taken over in Punjab and NWFP 16 BECO C.M.Latif 17 M.K.Foundary 18 Ittefaq Foundry Ittefaq 19 Rana Tractors 20 United Chemicals Saigol 21 Pakistan Cement Saigol 22 Ismaeel Cement Colony 23 Central Iron and Steel Works 24 Valika Steel Works Valika 25 Jaffer Steel Corporation Jaffer Bros 26 Pakistan Progressiv Cement Wah Colony 27 Pakistan progressive Cement Dandot Colony 28 Rawal Pindi Electrics 29 Modern Steel Muredke 30 Multan Electric Supply Colony 31 Karim Industries Nowshehra Nishat Nationalized Banks and their ownership 1 Habib Bank Ltd. Habib 2 United Bank Ltd Saigol 3 Muslim Commercial Bank Adamjee 4 Australasia Bank Colony 5 Premier Bank Arag 6 Habib Bank Overseas Habib 7 Commerce Bank Ltd Fancy 8 Memon Cooperative Bank Dawood 9 Lahore Commercial Bank Dawood 10 Punjab Cooperative Bank Dawood 11 Pakistan Bank Ltd Dawood 12 Bank of Bahawal Pur Dawood 13 Standards Bank 22
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 ..........
Page 8 and 9: A Brief introduction - For those wh
Page 10 and 11: Prologue "I Nawaz Sharif, do solemn
Page 12 and 13: Nawaz Sharif was not an individual.
Page 14 and 15: A white paper on " Economy under Bh
Page 16 and 17: The first Nawaz government was foll
Page 18 and 19: Another remarkable person mentioned
Page 20 and 21: Dawood lost Karnaphuli Paper Mills,
Page 22 and 23: disprove that bulk of the banking a
Page 24 and 25: perpetuated their control over the
Page 26 and 27: Kohat Cement, Dandot Cement and Tha
Page 30 and 31: Insurance companies of 22 families
Page 32 and 33: Born in Rangoon, M A Rangoonwala ha
Page 34 and 35: Crescent was a joint venture of fou
Page 36 and 37: Privatization - Turning the Clock B
Page 38 and 39: day Privatization Conference in Isl
Page 40 and 41: Independant Resource Group (IRG) of
Page 42 and 43: companies, management was to be tra
Page 44 and 45: Accelerated privatization under a f
Page 46 and 47: 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
Page 52 and 53: Pakistan Petroleum Limited (PPL) to
Page 54 and 55: group but thanks largely to the ala
Page 56 and 57: caretaker govt. to recover Rs 1,500
Page 58 and 59: Pakistan, had incorporated Muslim C
Page 60 and 61: Cement for Rs 137 million and Rs 18
Page 62 and 63: 5-star hotel. Bhutto who had planne
Page 64 and 65: For example, PSL is being managed b
Page 66 and 67: According to the Khalid Anwar, Burm
Page 68 and 69: also been assigned to the shelves o
Page 70 and 71: 32 Harijanss 61 - 61 33 Shafi 60.2
Page 72 and 73: 21 Sargodha 2,743 -- 22 Al-Noor 2,5
Page 74 and 75: had opened their offices in Japan,
Page 76 and 77: East, REDCO Textile Mills and Const
Page 78 and 79:
4 billion and a roaster of impressi
Page 80 and 81:
The geographic location of the comp
Page 82 and 83:
Haroon's great grandfather had migr
Page 84 and 85:
Gujrati and tended to be organised
Page 86 and 87:
9 Karim 3 10 Hasham 2 11 Latif Jama
Page 88 and 89:
At present, the Kaiser Monnoo group
Page 90 and 91:
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
Page 104 and 105:
8 Saigol 1,086 9 Naqvi 1,056 10 Zah
Page 106 and 107:
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 158 and 159:
conference in Islamabad, on March 2
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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