Who Owns Pakistan - Yimg

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21 Sargodha 2,743 -- 22 Al-Noor 2,573 -- 23 Ghulam Farooq 2,465 -- 24 Ibrahim 2,333 336 25 United 2,237 3,644 26 Bawany 2,189 53 27 Zahoor 2,178 -- 28 Schon 2,038 2,259 29 Dadabhoy 2,016 151 30 Jehangir Elahi 2,038 -- 31 Fazalsons 2,000 -- 32 Rupali 1,910 12,833 33 Servis 1,707 -- 34 Yunus Bros 1,689 997 35 Tawkkal 1,678 644 36 Sitara 1,619 -- 37 Colony 1,620 94 38 Premier 1,501 -- 39 Shahnawaz 1,299 -- 40 Sunshine/ Sunrays 1,265 -- 41 Fazal/ Fatima 1,263 -- 42 Calico 1,235 -- 43 Tata 1,060 102 44 Raja 1,020 -- 45 Nagina 1,013 -- A comparison of 45 groups in 1997 and 1970 reveals 24 new names which means 24 shining stars of the 1970 have disappeared from the corporate horizon without leaving a trail. Those who have disappeared or do not rank among the top industrial families now, include Adamjee, Fancy, Valika, Isphani, BECO, ARAG, Hafiz, Karim, Milwala, Hyesons, Hussain Ibrahim, Maula Baksh, Adam, A K Khan, Ghani, Rangoonwala, Harijan, Shafi, Fakir Chand, Hasham, Khyber Textile, Hoti, Noon and Dost Mohammad. The new entrants who have replaced them are, Ittefaq, Dewan, United, Saphire- Gulistan, Atlas, Chakwal, Fecto, Hashwani, Gatron, Lakson, Rupali, Tawakkal, Fatima, Servis, Ibrahim, Sargodha, Elahi, Schon, Kohistan, Fazalsons, Sitara, Nagina, Tata, Shahnawaz and Zahur. 65
The 42 groups ranked by White in the 1970 included 24 Karachi-based groups, 12 from Punjab and five from NWFP while I could not place whether Dost Mohammad was based in Karachi or Punjab. On the other hand, the 1997 ranking include 24 groups based in Punjab, 18 based in Karachi and three based in NWFP. At least 15 of Punjabi groups were Chiniotis while there were nine Memons, three Ismaeeli Khojas but not a single native Sindhi or Baluchi group. In fact, it is difficullt to identify more than a dozen companies on the KSE except for a few sugar mills headed by a sindhi or for that matter a Baluch Chief Executive. The Karachi-based based groups have not only gone down in number but also in ranking. Except for Maula Baksh, Adamjee and Noon, all the families disappreaing from the 1970 list were headquartered in Karachi. Adamjee, at number 3 in 1970 do not appear in the ranking based on manufacturing assests, Dawood, no 1 in 1970 has gone down to14th position, Habib at no 1 in 1990 has relegated to sixth position, Bawany and Gul Ahmad have fallen from commanding heights in the 1970 to the bottom of the list in 1997. Three top and seven of the top ten positions in 1997 are held by business groups from Punjab but a fundamental and structural change that has taken place between 1970-97 is the fall of Memons and the rise of Chiniotis. In 1970's every fourth company in Pakistan was owned by the Memons but in 1997 one in every seven companies listed on KSE belonged to Chiniotis. The two business communities of Chiniotis and Memons together own 206 of the 725 KSE companies. The top 44 business groups of 1997 include 15 Chiniotis, 9 Memons, Three Ismaeelis, One Khoja and three Pathans from the NWFP. As stated earlier in the chapter, ranking based on the listed companies does not reflect their actual economic muscle since they have consciously take steps to appear small, hiding a big part of their wealth in private and unlisted public limited companies. Although Ittefaq group has only four listed companies and Monnoos have none, it was possible to rank them because of govt. reports and estimates of the assets given out by the group members, in interviews or statements. The main monnoo group headed by Jehangir Monnoo has up to 20 textile and sugar mills, big live stock and poltry forms. Several of Pakistan's biggest industrial families like the Tabanis, the Haroons, Kasim Dada, Chaudrys of Gujrat, Raja group of Industries and Jaffer Bros have none or just one listed company but their wealth is legendary. Tabanis do not appear in ranking of the rich of the rich families either in the 1970 or 1990 but with an origin going back to early 19th century they are undoubtedly one of the richest families of Pakistan today. According to a group profile Tabanis 66
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Who Owns Pakistan By Shahid-ur-Rahm
Page 4 and 5:
G: UBL Privatization Bid ..........
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
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Nawaz Sharif was not an individual.
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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 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
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Chapter Four - Pakistan's Tax Web P
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28. Ushr 29. Oilseeds Development C
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political heavyweights or their hen
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Export Duties It is one of the most
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Capital Gain Tax As is evident from
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Law Authority will soon seek public
Page 134 and 135:
Chapter 5 - Money and Politics Elec
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Some of the known units of Saifulla
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These charges were peanuts when vie
Page 140 and 141:
In the references about Lakeview Ho
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Epilogue For several years, the peo
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One wonders how a government that c
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accustomed to buying his casual out
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141
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chemicals, synthetic fibres, cookin
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Iqbal Saigol S. No Name Assets Turn
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In a communication to the author in
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Dewan Listed Companies S. NO Names
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conference in Islamabad, on March 2
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Listed Companies S. No Company Asse
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when the Rserve Bank of India faile
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10. Noble Computer Services (pvt) L
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Syed Maratib Ali was a well known n
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Unlisted Companies 1. Clearance and
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Akbar Hashwani 1. Hashwani Construc
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Dawood Cotton Mills was set up in 1
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5. Margalla Textile 6. Rawal Textil
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Lakhani (Lakson) Lakhanis have grow
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6 Husein Sugar 358 560 7 Shadman Te
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Unlisted Companies 1. Ibrahim Agenc
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4 B F Modaraba 16 16 5 Bawany Air 5
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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
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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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