Who Owns Pakistan - Yimg
Who Owns Pakistan - Yimg
Who Owns Pakistan - Yimg
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At present, the Kaiser Monnoo group is made up of at least 15 textile mills with<br />
175,000 spindles and assets totalling Rs 3 billion. A splinter is headed by Mian<br />
Munir A Monnoo who migrated from East <strong>Pakistan</strong> in 1971 and set up Olympia<br />
Textile in the name and style of the factory left behind in East <strong>Pakistan</strong>.<br />
By 1970, very few of the Chiniotis had branched into heavy industry with the<br />
result that losses suffered by the Chiniotis in East <strong>Pakistan</strong> and Bhutto's<br />
nationalization were not heavy, as compared to the Memons.<br />
Saphire-Gulistan and Monnoo suffered some losses in East <strong>Pakistan</strong> but<br />
apparently they had managed to salvage some of their investment in time which<br />
helped them is settling themselves afresh in the Western wing. Two other<br />
Chiniotis Mohammad Salim and Sheikh Mohammad Nasir of United group also<br />
lost their Usmania Glass Factory at Chittgong.<br />
Mian Mansha narrowly escaped the effects of the fall of East <strong>Pakistan</strong> and<br />
nationalization since a family division had taken place in 1969 after the death of<br />
his father Mian Mohammad Yahya and the bulk of the assets in East <strong>Pakistan</strong><br />
was inherited by his uncles.<br />
Saigols had migrated to Calcutta in 1890 from Chakwal and are known as<br />
Punjabi Sheikh but Prof Pervaiz Ahmad of Islamia College, Chiniot claimed in an<br />
interview with the author that they are one of them, basically from Kot Shakir in<br />
Chiniot, going back to the days of Sher Shah of Sur.<br />
Prof. Ahmad claimed that Chiniotis comprised different castes including Vohras,<br />
Maghoons, Mannoos, Vadhavans and Saigols and pointed out that several<br />
Saigols are represented on various organizations set up by the Chiniotis.<br />
Biographical Encyclopedia of <strong>Pakistan</strong>, 1970 carried biographical sketch of one<br />
Shafiq Saigol of Chiniot who had set up Bengal Belting Corporation and several<br />
other industries in East <strong>Pakistan</strong> before 1970. It also carried biographical sketch<br />
of one Vohra Chinioti, Abdul Majid of Khotian (The native town of Saigols) who<br />
had set up a shoe factory in Calcutta and a rubber factory in Dhaka).<br />
Whether Saigols are Chiniotis or not, there have been inter-marriages between<br />
the Saigols and prominent Chinioti families particularly Monnoos.<br />
Bhutto's nationalization - A Blessing in Disguise for the<br />
Chiniotis<br />
In 1970 there were only five Chinioti groups among the top 42 families including<br />
Colony at no 5, Crescent at no 9, Nishat at 15, Monnoos at 26 and Maulabaksh<br />
at 27. However while nationalization shattered the will of the Karachi-based<br />
groups to invest in <strong>Pakistan</strong> and triggered a flight of capital, it proved to be a<br />
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