Who Owns Pakistan - Yimg

Gujrati and tended to be organised on the basis of ancestral residency. They
were specially strict about community endogamy based on township of origin and
had well organized and developed community associations to enforce marriage
rules and to moderate group conflicts. They were socially conservative and
religious devout with a large number of hajis among their members. As a
community roughly 100,000 Memons ranged across the entire socio-economic
spectrum from very poor to very rich.
The Memons settling in Karachi moved quickly to fill the gaps left by the
departing Hindu traders. They took over the textile importing business which had
previously been the speciality of Hindu traders from this base as textile importers,
they expanded quickly into textile manufacturing. From textile they moved into
banking, insurance and the production of other consumer goods. Within a short
period the Memons had become the most prominent business community.
Will the Memons Rise from the Ashes
The Memons are a bitter lot in Pakistan today. Several of their elders and leaders
like Yusuf Haroon, M A Rangoonwala, Jaffers and Dawood have moved or
shifted their business abroad and those who have not done so, lament the loss of
their leadership role and the decline of their economic power.
" The pre-privatization era, specially Ayub's decade, saw a surge in
industrialization with a fervent zeal. In another two decades Pakistan would have
been ranked with Japan. Also the dwarfs in the political field conspired to
dismember the country. Pakistan lost a lot of industries. And the Memons
suffered the most. But did they complain? Oh, No. Alas, then the chairman from
Larkana got his priorities all wraped up and succeeded in injecting a lethal dose
in the veins of country's industrial base by rashly nationalizing industries. And the
Memons suffered the most. But did they complain? Oh, No. They changed their
course and were back in other spheres of business doing what they did best.
Excel. Like the Phoenix, they always rise from ashes. And they always " will,
wrote Majyd Aziz, a self-proclaimed, " proud Memon businessman.
An opportunity rose after the 1997 elections to bring the Memons back into the
investment mainstream when Memon businessmen from Karachi responded to
Nawaz Sharif's call for donations and contributions for National Debt Retirement
Fund and Abu Bakr Sheikhani, president, Muslim League Karachi, pledged
donation and deposit of 50 million dollars on behalf of the Memon business
community. Appeals in newspapers on behalf of the Memon businessmen urged
Nawaz Sharif to award a Senate ticket to Sheikhani. But other consideration
weighed more heavily with Nawaz Sharif and Sheikhani was not given the ticket.
With the result that Pakistan's biggest business community lacks representation
in Nawaz Sharif govt adn the govt lacks their whole-hearted support. On the
other hand, Chiniotis have at least two known parliamentarians namely Tariq
Shafi and Qaisar A Sheikh in the national assembly.
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