Who Owns Pakistan - Yimg

For example, PSL is being managed by another group company, Hashoo
Holding Ltd, which is being paid Rs 4 million as management fee. Rent-a-car
service at Hashwani Hotels and PSL is being provided by Pearl Tours and even
the mineral water is supplied by an in-house company.
Hashwani family business currently stands split in three groups namely 1)
Hashoo group headed by Sadaruddin Hashwani, 2) Hashwani group of Akbar Ali
Hashwani and 3) Hassan Ali Hashwani group which was mainly been put
together by Sadaruddin Hashwani " for my sons" i.e. children of late Hassan Ali
Hashwani. These three groups comprise at least 40 companies.
Hahsoo group named after great grandfather is the biggest of the three and
comprise of 27 companies, of which only three are listed on the stock exchange.
The major non-listed companies include Zever Petroleum, Hashwani Hotels,
Occidental Pakistan Inc bought for at least 50 million dollars and two subsidiaries
in Europe and USA.
Hashwani and PPL
A brief background of the controversy that surrounds Pakistan Petroleum Ltd is
appropriate to give the perspective of what Hashwani was bidding for, and why
Asif Zardari was keen to that the deal got the required NOC from the Ministry of
Petroleum.
Birmah Castrol Oil of Britain owned 63% interest in PPL which was operating
Pakistan's biggest Sui gas field. It also held 8.5% interest in the country's second
biggest Qadirpur gas field. PPL itself owned 7% shares in the Qadirpur field.
Since 1985, Burmah Castrol has been trying to divest its shares in PPL since and
Pakistan govt had torpedoed two bids to sell its shares to Shell International in
1986 and to a consortium of Al-Barka of Saudi Arabia and Premier of UK in 1992,
by refusing to issue the required NOC.
In 1992, when the fedral govt was inclined to issue the required NOC for deal
between Burmah Castrol and Premier-Albarka, it was challanged by Hashoo
group in Baluchistan High Court on the plea that such a strategic interest ought
not to be sold to a foreing firm. The Court directed the Ministry of Petroleum to
reconsider the whole issue after listening to the parties concerned. However,
Burmah Castrol decided to withdraw its offer to Premier Oil and the matter came
to a standstill.
Once Burmah-Premier deal was called off, Hashoo group approached Burmah
for the said sale but without success because Burmah viewed Hashoo to be
reponsible for scuttling its deal with Premier Oil. However in 1995, Hashwani
succeeded in striking a trilateral deal, through an intermediary, BHP of Australia.
This is how it happened.
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