Who Owns Pakistan - Yimg

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G: UBL Privatization Bid ................................................................................................... 49 H: Pak-Saudi Fertilizer Privatization Bids ......................................................................... 50 Mian Mohammad Mansha and Nawaz Sharif: Privatization of Muslim Commercial Bank - The Master Stroke? ........................................................................................ 50 Benazir Bhutto and Hashwani ................................................................................... 53 Hashwani and PPL .................................................................................................... 57 Chapter Two - Who owns Pakistan? ............................................................... 60 22 Families in 1970, 1990 and 1997 .......................................................................... 62 22 Families in 1970 .......................................................................................................... 62 22 Families in 1990 .......................................................................................................... 63 22 Families in 1997 .......................................................................................................... 64 Big and Beautiful - But looking Small and Ugly .......................................................... 67 The Ethnic Divide of Business ................................................................................... 70 Razak Dawood-A Memon in Lahore. ............................................................................... 70 Karachi vs Punjab. ............................................................................................................ 72 Memons - the Sailor Businessmen of India ................................................................ 73 Memons are finished in Pakistan? ................................................................................... 76 Will the Memons Rise from the Ashes ............................................................................. 77 The companies owned by Memons on KSC .................................................................... 78 The Rise of Chiniotis ................................................................................................. 79 Bhutto's nationalization - A Blessing in Disguise for the Chiniotis .............................. 81 Nawaz Sharif and Chiniotis ....................................................................................... 82 Companies Owned by Chiniotis on KSE .......................................................................... 85 Chapter Three - How they make MONEY ........................................................ 86 The Beginning ........................................................................................................... 87 The Founding Fathers ............................................................................................... 88 Role of Banks and Financial Institutions in the Concentration of Wealthand Social Inequities ................................................................................................................... 90 The Alarm Bells ......................................................................................................... 91 Who Gets the Bank Loans ......................................................................................... 92 Beginning of Bad Loans ............................................................................................ 93 The Loans Bonanza .................................................................................................. 94 Pakistan's Top Defaulters .......................................................................................... 94 iii
Three Lists of Loan Defaulters, a Comparison ................................................................. 94 Pakistan's Top Defaulters ................................................................................................. 95 List of Top Loan Defaulters by Benazir 6.9.1996. ............................................................ 96 Top Defaulters by Meraj Khalid in January 1997 ............................................................. 96 Mian Aftab Ahmad, a Professional Loan Defaulter .......................................................... 97 Habib Bank Gujranwala - The Bank that Gave Non-Repayable Loans ...................... 98 The Sick Mill Therapy, at Whose Cost? ..................................................................... 98 How Central Board of Revenue (CBR) Helps Them Become Rich .......................... 100 CBR: Corrupt or Politicized ............................................................................................. 100 Politics of SROs .............................................................................................................. 101 Some Interesting Cases of CBR for Making MONEY............................................... 102 The Case of Chunian Industrial Estate ........................................................................... 102 The Case of Import Duties on Steel ............................................................................... 103 The Case of Indus Toyota Motors, The Tug of War Between Bhutto and Nawaz ......... 104 The Politics of Tax Holidays ........................................................................................... 105 The Rebate, Duties Bonanza ......................................................................................... 106 Richest Individuals of Pakistan ................................................................................ 109 A List of Pakistan's RICHEST Individuals ...................................................................... 110 Pakistan's Nameless, Faceless Billionaires ............................................................. 111 Benami Ownership .................................................................................................. 112 Chapter Four - Pakistan's Tax Web ............................................................... 115 Federal Government Taxes ............................................................................................ 116 Provincial Taxes ............................................................................................................. 117 The Municipal Taxes ...................................................................................................... 117 Gross Anomalies in the Taxation System Breeding Corruption ................................ 120 Income Tax ..................................................................................................................... 120 Export Duties .................................................................................................................. 121 Development Surcharge ................................................................................................. 121 Capital Value Tax (CVT) ................................................................................................. 122 Taxes for Rich ......................................................................................................... 122 Wealth Tax ...................................................................................................................... 122 Capital Gain Tax ............................................................................................................. 123 Estate Duty ..................................................................................................................... 123 The Gift Tax .................................................................................................................... 123 How Corporate Law Authority (CLA) Helps Them? .................................................. 123 Chapter 5 – Money and Politics ..................................................................... 127 Politics and Corruption ............................................................................................ 129 Benazir, Sharif - Cataloguing Corruption ................................................................. 130 Epilogue ........................................................................................................... 135 iv
Page 1: Who Owns Pakistan By Shahid-ur-Rahm
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 28 and 29: Earlier in this chapter, we have li
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
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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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