Who Owns Pakistan - Yimg

CONTENTS
A Brief introduction - For those who do not like the title ................................ 1
Prologue .............................................................................................................. 3
Chapter One – Pakistan’s Economic Saga ....................................................... 8
Pakistan's Economic Saga and 22 Families ................................................................ 8
Paksitan's Economy, Muslim Business (22 Families) at Independence ....................... 9
The Saga of 1970s .................................................................................................... 12
Bhutto's Nationalization ............................................................................................. 15
Impact of Nationalization on Pakistan's Economic Development ............................... 20
31 Key Industries Nationalized in 1972 ...................................................................... 21
Units taken over in Karachi ............................................................................................... 21
Units taken over in Punjab and NWFP ............................................................................. 22
Nationalized Banks and their ownership .......................................................................... 22
Insurance companies of 22 families that were nationalized ............................................. 23
Nationalized Shipping Companies ................................................................................... 23
Division in 22 Families, a Post-Bhutto Stratergy to Appear Small .............................. 26
Privatization - Turning the Clock Back ....................................................................... 29
How to Change a Lemon into an Orange................................................................... 30
A Privatization Formula Rooted in Corruption, Further Being Corrupted .................... 34
How Privatized Units are Evaluated, Priced? ............................................................. 35
Owning the Liabilities, Transferring the Assets .......................................................... 37
Big Cover Up in Corruption in Privatization ................................................................ 38
Companies Defaulting in Payment to Privatization Commission. .................................... 39
A Brief History of Privatization ................................................................................... 41
Nawaz Sharif's Privatization ...................................................................................... 42
Benazir Bhutto's Privatization (1993-96) .................................................................... 44
Some Landmark Cases of Corruption in Privatization ................................................ 45
A: Fixing the reference price at will. ................................................................................. 45
B: Schon Group ................................................................................................................ 46
C: Sikandar Jatoi .............................................................................................................. 47
D: Tawakkals .................................................................................................................... 48
E: Kot Addu Power Company ........................................................................................... 48
F: OGDC Privatization Bid ................................................................................................ 48
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