Who Owns Pakistan - Yimg

Several leading figures like Rangoonwala, Haroon, Dawood, Jaffer, Saigols
simply left Pakistan, some of them for good. Others were to return only to indulge
in trading. Still others with the degree of ostentatious courage who stayed back
till Bhutto's day of reckoning, like Gul Ahmad, Fateh, Adamjee, Bawani,
Dadabhoys and Dadas did not set up a single industrial project of consequences
in next 25 years. When I asked Razak Dawood during an interview if he can
identify a few big industrial units set up by the Memons after 1971, the only unit
that came to his mind was Gatron Industries.
Ahmad Dawood was imprisoned and put on the Exit Control List. It was only in
1974 that he managed to go abroad, not to return till the overthrow of Z A Bhutto
by Gen. Zia in 1977. While in USA Ahmand Dawood set up an oil exploration
company which is reported to have carried out explorations at six wells " All of
which prove to be oil bearing".
Sadiq Dawood migrated to Canada where he set up chain of departmental stores
but returned in 1980 to launch BBR Madaraba with an initial capital of Rs 5
million. The BBR group today comprise five listed companies with an asset base
of Rs 2 billion, but except for one, all the group comapanies are active in the
services sector. TransPak, the only manufacturing company set up during this
period by the members of Dawood family produces toothpaste and combines a
packing concern.
Jaffer family business headed by Ahmad Ebrahim comprise at leat ten compnies
including Ahmad Jaffer and company, Jaffer Sons, International Travels Ltd,
Pakistan Garage Ltd and Karachi Electric Supply Corporation. A car assebly
plant and an under construction fertilizer factory at Hawks Bay was nationalized.
Presently the group is active only in trading and does not have a single company
listed on Karachi Stock Exchange.
In the wake of nationalization the Fancy group members sold of remaining assets
like Kotri Textile Mills, New Jubilee Insurance and interests in Pakistan Industrial
Credit & Investment Corporation (PICIC) to Sadaruddin Hishwani. The solitary
project set up by Fancies in last two decades is a biscuit factory.
Valika Steel was a big nationalized unit which underwent major expansion during
Bhutto's six years when its name was changed to Special Steel. It came close to
bankruptcy and was marked for privatization when it was taken over by Kahuta
Research Laboratory of Dr. A Q Khan. It is today the nucleus of key 0defencerelated
projects in Pakistan.
Harron's had atleast 25 companies in their group including pakistan Services
Ltd., Pakistan Herlod Ltd,Haroon Industries Ltd, Haroon Sons Ltd and
Herbertson (Pakistan) Ltd. Today their interests in Pakistan are limited to Haroon
Oils and Herold Publications while Yousaf Haroon has a divesified industrial
network in the united States.
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