Who Owns Pakistan - Yimg

Pakistan, had incorporated Muslim Commercial Bank in 1949. As previous
owner, they had the first right of purchase but, third lowest bid by Messers
Abdullah and others, a consortium comprising of 12 leading industrialists, mostly
from Punjab and headed by Mian Mohammad Mansha, was asked to match the
highest bid and declared winner. The consortium which called itself the National
Group comprised the following leading industrial groups and families:
1 Mohammad Abdullah Saphire
2 S.M.Muneer Din
3 S.S.Saleem Universal Leather and Footwear
4 Mian Mohammad Mansha Nishat
5 Haji Bashir Ahmad Sitara
6 Tariq Rafi Sadiqsons (United)
7 Mohammad Naseem Shafi Tanneries
8 Mohammad Arshad Arshad Textiles
9 Sheikh Mukhtar Ahmad Ibrahim
10 Saqib Elahi Be Be Jan Pakistan (Pvt) Ltd.
11 Bashir Jan Mohammad F and B Bulk Storage (Pvt) Ltd.
12 Khawaja Mohammad Javed Chakwal
At the press Conference called to announce the sale of MCB to the National
Group, Finance Minister Sartaj Aziz said that two highest bids were rejected
because the bidders had failed to disclose the source of their income. A press
release distributed at the press conference claimed that the committee which
scrutinized the five bids was guided by four major considerations namely 1)
corporate and financial record of bidders, 2) capability of managing the bank on
sound professional basis, 3) dispersal of share-holding to avoid concentration of
ownership and control and 4) price offered on " as is where is" basis, without any
condition.
Tawakkals filed a case in High Court but withdrew it under pressure from the
Finance Ministry. In the subsequent privatization by Nawaz Sharif, Tawakkals
succeeded in the privatization of three industrial units in such a dubious manner
that Chairman, Privatization Commission came to be known as General Saeed
Qadir Tawakkal, to rhyme like Abdul Qadir Tawakkal of Tawakkal group.
For nearly 30 months while Nawaz Sharif was in power, Bhutto and her party
leaders ceaselessly attacked the privatization process, particularly privatization of
MCB to Mian Mansha and his associates, as an act of favourtism and part of a
game plan. Farooq Leghari, Finance Minister in the caretaker govt. of Prime
Minister Moeen Qureshi, declared on the floor of the Senate on May 18,1993 that
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