Who Owns Pakistan - Yimg

had opened their offices in Japan, Singapore and London, as early as 1920. The
group currently has ten companies its fold including a private airline and is
general sale agent for Uzbekistan Airline and is also sole agent for Ukraine
Airways, Turkmenistan Airways, Kazakhstan Airways and Volga Dnepr. The
group enjoys monopoly in barter trade with the former Soviet Union and its
exports in 1992 were valued at 300 million dollars. It owns and operates a hotel
in Tashkent, is setting up a garment factory in Uzbekistan and a cigarette factory
in another Central Asia Republic. However, it does not have a single company
listed on the Stock Exchange.
Fazal (Fatima) group based in Multan is ranked at number 37 on the basis of five
listed companies but comprises of 24 industrial units.
The House of Habib is corporate enigma. As stated in last chapter, its Habib
Bank had provided a loan of Rs 80 million to Pakistan govt. in 1947, Pakistan's
first industrial unit, Dentinic limited was launched by Habibs, none of its
manufacturing units was lost in Bhutto's nationalization or seperation of East
Pakistan and in 1984, it comprised 90 public and private limited companies.
Judged by the yardstick of known assets, Habib group comes at number 7, even
after Dewan and Saphire who were born as recently as 1970s and 1980s.
Perhaps the low ranking of the House of Habib, dispropotionate to the image of
the Habibians can be explained by an article in the Souvenir published on the
occasion of 50 years of Habib Bank which had observed that Habibian make
considerable effort to " hide the light under a bush, in the religious belief strongly
held that to win the pleasure of Allah is worth infinitely more than to seek the
plaudits of the public."
Hashwani's Hashoo group is at 21 in the national ranking of the top 44
companies but the assets acquired by the group during first two years of Bhutto
govt. and the no of private and public companies in its fold tell another story. His
catapulation under Benazir Bhutto is comparable to that of Mian Mohammad
Mansha under Nawaz Sharif.
Adamjee, one of the biggest names of the 1970s could not end up at the bottom
of the 45 families. But has the group realy gone down, considering that it has 15
private limited companies but only 4 listed companies in its fold? The group
operates Pakistan's biggest insurance companies with assets of over Rs 3 billion.
Big and Beautiful - But looking Small and Ugly
In addition to the top 22 families of the 1970 and 1990, there are several small
groups who are rich and up to the hilt but have no or little presence on the stock
exchange. They are like still waters that run deep, or icebergs with submerged
tips. These groups include:
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