Who Owns Pakistan - Yimg

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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: 67
Adam Group: A memon group with only two companies. Adam Sugar Mills and Premier Textile listed on KSE. It is known as one of the biggest importers and dealers of tea in Pakistan. Avari Group: It comprises Spencers, Beach luxury hotel, newly set up Beach Brewery and Avari Hotels at Karachi and Lahore. The group also holds " management contracts for Avari Hotel at Totonto, Dubai and Sharja. Chaudry Group:of Ch. Shujaat Husain comprising of at least ten companies including four sugar mills namely Punjab Sugar Mills, National Sugar Mills, Phalia Sugars and under construction Nayyar Sugar Mills as well as Impak International, Cee Bee Industries, Modern Embroidary Textile Mills and Kunjah Textile Mills. Chaudry Shujaat Hussain and his close relatives are known to be operating carpet manufacturing plant at Jabl-e-Ali in UAE and two carpet manufacturing units under Nayyar Industries Ltd at Gujrat and Lahore. Chaudry Shujaat Hussain's arch rival Ahmad Mukhtar claimed during the 1993 election compaign that Chaudries of Gujrat have set up business in Far East including a hotel. Chinab Group: It is an export oriented Chanioti group which has been winning PFCCI Export Trophy for several years. Starting with export of Rs 88 million in 1987, exports by the group rose to to 2,219 million in 1997. The companies in the group include Chinab Fabrics and Processing Mills Ltd, Chinab Fibres Ltd, Chinab Cotton and Oil Extraction Ltd, Faisal Weaving Mills Ltd, Latif Weaving Mills, Chinab Garments Ltd and Chinab Exports Ltd. Chinab group was part of National group of twelve industrial families who acquired MCB in 1991. Dimond Group: A chinioti group headed by Tariq Shafi, a member of National Assembly from Karachi. The group has only one company listed on KSE. DSI Goup: The group started in 1974 by setting up a 100% export oriented company but now comprising of four units. A) DSI Corporation, B) DSI Corporation (Pvt), C) DSI Household Linen(Pvt) and D) Messers Mohammad Amin Mohammad Siddique. Its total exports in 1996 stood at Rs 654 million which won it best exporter award from PFCCI for third year running, in the field of cotton knitted products. Sahaf Group:headed by Salahuddin Sahaf had a turn over of Rs 400 million in 1994. It comprised of 1) Shahdin Ltd 2) Sahaf Enterprise, 3) Tush Private Ltd and 5) Iqbal Qamar (Pvt) Ltd. REDCO Group: headed by Senator Saif ur Rehman comprising seven companies including three Pre-Fab Construction companies in the Middle 68
Page 1:
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
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 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
Page 144 and 145:
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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