Following is the list of the top Famous Business families in Pakistan at the moment 2010.
1. The Nishat Group
Mian Muhammad Mansha Yaha is the captain of this splendid ship having around 30 companies on board. Mansha, who owns the Muslim Commercial Bank as well, is now setting up a billion rupee ($ 17 m) paper sack project too. He is one of the richest Pakistanis around. Nishat Group was country’s 15th richest family in 1970, 6th in 1990 and Number 1 in 1997. Mansha is on the board of nearly 50 companies. Chiniotiby clan, Mansha is married to Yousaf Saigol’s daughter. He is deemed to have made investments in many bourses, currency and metal exchanges both within and outside Pakistan. He has had his share of luck on many occasions in life and has recently been awarded Pakistan’s highest civil award by President Musharraf. He could have bought the United Bank too, but then who doesn’t have adversaries. Nishat Group comprises of textiles, cement, leasing, insurance and management companies.
2. The Jang Group
This huge media empire was founded by late Mir Khalil-ur-Rehman some six decades ago. Today, around 10 top newspapers and the multi-billion rupee GEO TV project are being run by Mir Shakeel-ur-Rehman, Mir Khalil’s brainy son, who has a lot of projects pertaining to real estate under his belt too. Though he can be very modest, Shakeel is known to have taken country’s Prime Ministers head-on. His tussle with Nawaz Sharif in 1999 spoke volumes of his unmatched influence in all domestic and international quarters which matter Shakeel is one of Asia’s most well known media barons, whose newspapers have served to be the breeding nurseries for country’s top journalists. He invests massively in stocks business regularly. His elder brother Mir Javed ur Rehman and tender son Mir Ibrahim also assist him in business. Such magnificent has been his influence that at times, a few governments have opted to take a few of his employees as ministers. The Group, as most politicians agree, has been instrumental in both toppling and building governments in Pakistan for decades now. Limelight is the product that he sells but doesn’t like tasting the fruits of his own garden.
3. The Hashoo Group
Led by the vintage Saddaruddin Haswani, the Hashoo Group is more known for its dominance in Pakistan’s hotel industry, though the people who know a bit more about the Hashwanis are of their strength in real estate business too. Hashwanis are involved in trading of cotton grain and steel and till the nationalization of cotton export in 1974, they were widely being dubbed as the Cotton Kings of Pakistan. Today, this group has excelled in export of rice, wheat, cotton and barley.
4. The Packages Group
The seed of this huge empire was sown by Syed Maratib All, a renowned supplier for British Army and the Indian Railways before partition. The group launched a joint venture with Lever Brothers soon after 1947, but massive production of Pakistan Tobacco Company later reportedly made Syed Maratib All and sons install a packaging Unit by the names of Packages. Two of Maratib’s sons-Syed Amjad All and Syed Babar Au have remained Pakistan’s finance Ministers and two of his well-known grand-children-Syeda Abida Hussain and Syed Fakhar Imam- are political stalwarts who need no recognition. Late Syed Amjad Ali was Pakistan’s first Ambassador to the United Nations, while Syed Babar Ali is the force behind the establishment of the LUMS. The group owns Nestle Pakistan too which is being run by Syed Yawar Ali. Syed Babar Ali has also served as Chairman National Fertilizer Corporation during the Bhutto regime too and has been the Chairman of Hoeist Pakistan, Lever Brothers and Siemen. The group also acquired a good number of Coca Cola plants in Pakistan. Its famous brands include Nestle Milk Pak, Treet, Mitchells and Tri Pack Films. It has stakes in the textile, dairy, agriculture and rice Sectors too. The groups Contributions towards the cause of an independent Pakistan are unprecedented.
5. The House of Habib
Legend has it that the Goddess of Wealth has been in love with the seasoned Habibs more than anybody else in Pakistan. Most pundits believe that Habibs own at least 100 companies throughout the world, but these content mega-tycoons never boast off, something which has made it uphill for most to predict about their financial standing. This industrial group was founded by Seth Habib Mitha, born in 1878 to Esmail Ali-a factory owner in Bombay. The financial strength of the Habibs can be gauged from the fact that Muhammad Ali Habib was gave a cheque of Rs 80 million to Quaid-e-Azam in 1948 at a time when Pakistan government was penniless owing to delay in transfer of Pakistan’s share of Rs. 750 million by the Reserve Bank of India. They had offices in Europe in 1912. They incorporated the Habib Bank in 1941. They own the Habib Bank A.G Zurich, Bank Al-Habib, Indus Motors assembling Corolla cars and many dozens of units in sectors such as jute, paper sack, minerals, steel, tiles, synthetics sugar, glass, construction, concrete, farm autos, banking, oil, computers, music, paper, packages, leasing and capital management. Habibs today are headed by Rafiq Habib and Rashid Habib in two distinct groups. What makes them extremely influential players of all times is the fact that for dozens of top businessmen today, Habib were a myth once.
6. The Saigols Saigols
originally hail from Jehlum. The pioneer of the Saigol dynasty in 1890 was Amin Saigol who established a shoe shop that eventually transformed into Kohinoor Rubber Works. And then times saw them shining literally like the Kohinoor until their progress was by Nationalization in which they lost two-thirds of their wealth. Saigols got trifurcated in 1976 and 15 descendents of Amin Saigols tour sons got a share. The name of the Saigols has been used in this part of the world as similes describing quantum of wealth. Yousaf Saigol, along with his brothers Sayeed Saigol, Bashir Saigol and Gul Saigol then nourished an excellent crop. In 1948, Saigols established the Kohinoor Textile Mills with a cost of Rs 8 million and this group happens to be the first to open an LC with the State Bank of Pakistan. They bought the United Bank in 1959 and then witnessed five of their units getting nationalized. They lived in Saudi Arabia during the Bhutto regime. Today, cousins Tariq and Nasim are holding the family’s fort together and have risen to unprecedented heights in individual capacities. NAB did haunt Nasim but Tariq spent more lime either accepting or refusing prized slots everywhere. Tariq is the one of the finest business brains around.
7. Tessori™ Group
Usually known as the Diamond and Gold King of Pakistan. Descending from an ancient family of Pakistani Goldsmiths and precious gemstones collector, Akhtar khan tessori, the company’s founder, manufactured precious Gold and Diamond Jewellery. During the late 1996, Mr Tessori moved to Karachi from Hongkong and in 1999 opened his first flagship showroom in Karachi, Pakistan. In 2001, his sons Kamran khan tessori , Imran Khan tessori and Irfan khan tessori developed a deep interest and expertise in precious stones, jewels and watches, gradually taking over their father`s role in the management of the business. By the 2000-2001, the bold and innovative style of Tessori had gain success all over Pakistan, middleast and far east. Tessori became the first branded Hallmark jewellery and the only ISO 9000 certified company in Pakistan and third in Asia in Jewellery sector. Tessori through their strategic planning and coordinated teamwork has gradually expanded into different sectors such as clothing, perfumes, financial services trade and construction businesses. Tessori Group won several awards nationally and Internationally and became the largest jewellery exporter and importer of gold bullion in Pakistan and recently won the brand of the year award in Pakistan. The company came into headlines when they bid for UNITED BANK LTD (UBL).
8. The Saif Group
Is owned and operated by the sons of famous NWFP lady politician Begum Kalsum Saifullah. Her eldest son Javid Saifullah heads Ibis very powerful business group. Javid obtained his Master degree in Business Administration from the University of Pittsburgh, USA in 1973, followed by diversified experience of over 30 years in textiles, elecommunication, cement and Information Technology. He also remained the Chairman of All Pakistan Textile Mills Association (APTMA) for two years and NWFP for seven years. He has also been the member Task Force IT & Telecommunication Advisory Board, Ministry of Science and Technology, Member of Task Force (Liberalization & Privatization of Pakistan Telecommunication Company Limited), Ministry of Science & Technology)Javed Saifullah Khan is looking after the group businesses for the past 20 years. Saifullahs are in power always, in one form or the other. Javaid’s brothers Anwar Saifullah, Khan (Former Federal Minister), Salim Saifullah Khan king-maker in NWFP polities) and Osman Saifullah (another APTMA& wizard) have very close family ties with a lot of key politicians in the country, besides being related directly or indirectly through marriages to the families of a few leading and famous Army Generals who ruled Pakistan.
9.The Crescent Group
The history of this group dates back to 1910 when Shams Din of Chiniot and his four sons came into business with a tannery at Amritsar. This family was allotted 125 acres in Faisalabad in lieu of their left-over property in India. These brothers’ Muhammad Antis, Muhammad Bashir, Fazal Karim and Muhammad Shafi-then ruse up to become country’s largest textile exporters. They had initially set up the Mohammad Amin-Muhammad Bashir Limited for export of cotton and import of various products. Having more than two dozen concerns in its fold, Crescent is majestic force to reckon with. This empire serves as the best example of cohesion among cousins, uncles and nephews. Altaf Saleem of this group has enjoyed the slot of Chairman Privatisation Commission during the Musharraf regime, but has not been accused of any bungling during despite having served on a Prized slot. The group today owns numerous textile, steel, sugar, modaraba, food, leasing, knitwear, software, power, chemical, banking and investment units. They are one of the richest people in the country for the last 40 odd years. This Chinioti Sheikh family has lived up with quite a wonderful reputation, bearing an excellent record with its creditors throughout its bu.siness history. Men running Crescent do not have to make contacts, for the privilege comes to them naturally.
10. The Dewan Group Dewan
Yousaf Farooqui. The mentor of this group has been the Sindh Minister for Local Bodies. Industries, Labour, Transport, Mines & Minerals. Holding of so many portfolios y a single man bears ample testimony to the fact that the Dewans keep a leg sticking in polities too. The Dewan Mushtaq Group is one of the Pakistan’s largest industrial conglomerates in sectors like polyester acrylic fiber, manufacturing and automotives. Six of their companies are listed at the Karachi & stock Exchange and one at the Luxembourg bourse. Dewan Farooqui Motors assembles around 10,000 cars annually under technical license agreement with Hyundai and Kia Motors of Korea The Dewan Salman Fiber is the pride of this empire as it ranks 11th in the world in total production capacity. The group owns three textile units, a motorcycle manufacturing concern and the largest sugar unit in the country. Dewans also have business interests in India. They possess dozens of millions of shares of Saudi Cement and Pak land Cement. They finance some 40 medical dispensaries and over a dozen schools, apart from funding roads/drinking water and Bio-energy infrastructures. Dewans arc on their way building a $ 1O million SME Resources with IFC investment of $ 3 million. The Dewans enjoy massive influence in the engineering sector.
11. The Lakson Group The Lakhanis are currently having a hard lime at the hands of NAB. Sultan Lakhani and his three brothers run this prestigious group and the chain of McDonald’s restaurants in Pakistan. NAB has alleged the Lakhanis of having created phoney companies through worthless directors and raised massive loans from various banks and financial institutions. Sultan is currently abroad after having served a jail term with younger sibling Amin, though the latter was released much earlier. NAB had reportedly demanded Rs 7 billion from Lakhanis, but later agreed they pay only Rs 1.5 billion over a 10-year period. Lakhanis, like their arch-rivals Hashwanis, are the most well-known of all Ismaeli tycoons. Their stakes range from media, tobacco, paper, chemicals and surgical equipment to cotton, packaging, insurance, detergents and other house-hold items, many of which are joint ventures with leading international conglomerates. Though Lakhanis are in turbulent waters currently, the success that greeted them during the last 25 years especially has been tremendous. They have rifts with large business empires despite being known fur their genteel nature. Whether it is any government in Sindh or at the Federal level, Lakhanis have had trusted friends everywhere, though the present era has proved a painful exception.
12. The Dawood Group
Was ranked Pakistan’s biggest group in 1970, 3rd in 1990 and 15th in 1997 like all. Nationalization and the East Pakistan tragedy trampled all over the Dawoods too. Today, the original Dawood Group stands split in three factions. The owners of this empire refrained from opening any unit for a good part of some 20 odd years. This group was founded by Ahmed Dawood, but later the dynasty found itself divided among the three Dawood brothers-Ahmad Sadiq and Suleman, The key players in this group led lives in exile during the Bhutto regime. Former Federal Minister fur Commerce and Trade Razzak Dawood, the son of the late Suleman Dawned runs the Descon Engineering and a few other units dealing in manufacturing refrigerators and other consumer products. Hussain Dawuod, sun of Ahmed Dawood, has already rendered meritorious philanthropic services in the field of education by supporting brilliant and needy students. Hussain runs Dawood Hercules, some modaraba companies and a few textile units. The Sadiq Dawned Group owns a few leasing, modaraba and insurance concerns too, apart from the Dawood Yamaha. Sadiq Dawood’s decision to become an MNA in 1951 and Treasurer Pakistan Muslim League during Ayub’s rule certainly benefited the Dawoods.
13. The Best Way Group
Sir Anwar Pervaiz is the Chairman of Bestway Group which started off as a specialist Asian food store in West London in 1962. More retail units followed and by the early l970’s the group had opened ten general food stores. He may easily be dubbed the richest Pakistani. The Bestway Group moved into the wholesale business in 1976 when its first Bestway cash and carry warehouse was established in London. Rapid expansion in wholesaling followed during the 1980’s and 1990’s, and to date, the Bestway Group comprises of about 30. The Bestway Group moved into the cement business in 1995 when it decided to set up cement manufacturing plant in Pakistan at a cost of $120 million. In 2002, the Bestway Group acquired a 25.5% stake in United Bank Limited. Today, the Bestway Group has a diversified portfolio, with interests in cash & carry wholesale.
14. The Haroon Family
Headed by Yusuf Haroon, 9l, the former Sindh Chief Minister and Governor West Pakistan, this family owns The Herald Group of publications which includes the Daily Dawn, Monthly Herald, Aurora and Spider magazines. When he rose to Karachi’s Mayorship, Yousaf was the youngest Mayor in sub-continent’s history. This prominent scion of the Memon clan had remained a strong believer that General Zia-ul-Haq bad launched systematic discrimination against the Karachi businessmen that made the Memons fly outside Pakistan with their money. Yosaf’s younger brother Mabmood A.Haroon has also remained Sindh’s Governor, besides having served as ADC to Quaid-Azam at the age of 17. The Haroons; wealthiest in the country once, are prominent media barons of today who enjoy unmatched influence in country’s political and business arena. Sir Abdullah Haroon, father of Yousaf and Mahmood, bad died in 1942, but sot before he had devoted his residence for the cause of Pakistan. Handling both business and politics at the same time never seemed tough job for the disciplined sons of Sir Abdullah Haroon. Yousaf Haroon also served a country’s High Commissioner to Australia. The great grandfathers of the Haroons had migrated to Karachi some 150 years ago where they made fortunes in clothing and sugar trades.
15. The Yunus Brothers
The Chairman of this group is Abdul Razzak Tabba. This group owns one of the largest warehouses (textile products) in Pakistan. The concerns falling under the ambit of the Younus Brothers are Fazal Textiles, Gadoon Textiles, Lucky Cement, Lucky Energy, Lucky Power-Tech, Lucky Textiles, Younus Textiles, Security Electric Power Company and Younus Brothers etc. Razzak Tabba is an active player in the politics of the prestigious All Pakistan Textile Mills Association (APTMA) too, apart from assuming a king-maker’s role in the political arena of the FPCCI. Tabba came to more limelight last year when he hosted very heavily attended dinners in honour of the textile magnates from all across the country, while siding with Messrs Tariq Saigol and Mian Mansha in their battle against the APTMA Chief Waqar Monnno. He is quite a philanthropist too and has initiated various welfare projects for his Memon community in Karachi and Sindh. He frequently stars in the community welfare programmes held under the auspices of the Asia Tabba Foundation, World Memon Foundation and the Kathiawar Cooperative Housing society etc Tabba is a man who likes to keep away from camera and despite all his influence and riches-something which has made him earn tots of respect.
16. Gul Ahmad/Al-Karam Group
Gul Ahmad is one of the most vibrant Memon business houses in the country that was founded by Haji Mohammad Pakolawala, but is now split between Gul Ahmad and Al-Karam Group of Industries. While Gul Ahmad is headed by Bashir Al Muhammad, the Al-Karam faction is controlled by Umar Haji Karim. In 1953, Gul Ahmad was incorporated as a private limited company with a capital of Rs eight million. Gul Ahmad is presently a composite unit with an installed capacity of 88,000 spindles, 108 air-jet looms and 297 conventional looms. The group has been a pioneer in the field of power generation as well. Gul Ahmad’s directors have held top positions in various textile bodies, export committees, besides having assisted government of Pakistan in few major talks with EU and US. The group is set to launch the Excel Insurance Company shortly as required licenses/documentation stands done. Al-Karam, on (be other hand, is one of the largest textile concerns in Pakistan producing superior quality yarn, apart from having Amna Industries, Orient Textiles, Imran Crown Cork, Gul Agencies, Dabheji Salt Works and Pakistan Synthetics in its wallet. It owns a dairy-related establishment too by the name of Pakistan Dairy Products Limited. During Moeen Qureshi’s tenure, Alt Muhammad was appointed Vice Chairman of Export Promotion Bureau.
17. The Bawany Group
Bawany dynasty was founded by two Bawany brothers, Ahmad Karim Ebrahim Bawany and Abdul Latif Ibrahim Bawany born in 1882 and 1890 respectively at Jetpur, Kathiawar, who had migrated to Burma towards end the end of 19th century and set up Ahmad Violin Hosiery Works in Rangoon. In 1947, they migrated to Pakistan. It was perhaps in memory of the Hosiery Mills at Rangoon that a company with the same name was incorporated in Karachi and is doing a flourishing business. The name Bawany has its origin in the name of an elder of the family, who was known for his honesty and hard work in home-town Jetpur. They were the first among the Memons to open a purchase office in Japan and are currently active in textiles, jute, sugar, particle board, Oxygen, leather, garments, tanneries and cables Bawanis are known to have maite night investment decisions at the right time and their contemperaine still acknowledge them for his quality. Bawanis are known to have made right investments us the right time-something their contemporaries acknowledge.
18. The Servis Group
Shahid Hussain is the Chairman of this massive foot-wear giant which now is neck-deep in textile business too. Shahid has replaced Ch Ahmad Saeed (sitting PIA Chairman (as the Servis boss. Both Chaudhary Ahmed Saeed and President General Musharraf happen to be old friends from their Forman Christian College days. Ch. Ahmad Saeed’s younger brother Chaudhary Ahmed Multhtar is a well-known Pakistan Peoples Party leader who has been the Federal Commerce Minister of Pakistan during one of the two tenures of two-time ex-Premier Benazir Bhutto. Ch. Ahmad Saeed’s son Arif Saeed is Chairman APTMA Punjab and is siding with his Central Chief Waqar Munnoo against a huge number of textile gurus. The Servis Group operates in sectors like shoes, tyres, cotton yarn, leather, syringes and retailing. The political constituency of these politicians-cum-businessmen also happens in be the feud-ridden Gujrat district of Punjab where Ahmed Mukhtar sometimes emerges triumphant against President Pakistan Muslim League Ch Shujaat Hussain, and at times loses the support of voters for a National Assembly seat. It is this proximity with various regimes that the Servis Group bus been rated so highly. And then, even if alleged for a white-collard crime, these Servis guys remain relatively comfortable-courtesy their clout as a political-cum-business family.
19. The Tata Family
Do not confuse the Tatas in Pakistan with their name-sake market leaders in India. Having migrated from Nepal Mehboob Elahi started with a tannery in Bangladesh much before 1971 but his five Sons Mehboob lqbal `Tata ( Chairman Jinnah Hospital Lahore). Riaz Tata (President FPCCI) Anwar Tata (Former Chairman APTMA), Khalid Tata and ljaz Tate together built 15 odd units, ably supported by the third generation scions like Shahid, Masud and Hasan Tata. Tatas are in textile spinning, weaving, denim, woven, knitwear, leather and energy business. Having annual turnover in excess of Rs 1.5 billion, this Chinioti family too traces its presence in business as early as 200 years from now. Bound in a cohesive bond, each of the Tatas heads a separate unit. The sitting Federation President Riaz Tata heads the Naveena Exports Division and despite having faced some tough times at the top slot in the apex body. Pakistan’s key business leader is holding his throne tightly, though there have been occasions when he (Riaz Tata) seriously thought in terms of vacating office due to business pre-occupation. But the mammoth number of colleagues and friends around him barred him from doing so. The vintage Tatas overall lead unassuming life styles. They love to remain in low key but prove their worth when times demand.
21. The Tapal Group
Is headed by Aftab Tapal. The group’s success in tea business has astounded many. The journey of Tapal’s remarkable success is the combined harvest of three generations of this family. In 1947, Tapal started out as a family concern under the supervision of Adam Ali Tapal. Faced with tough competition from very well known tea brands in the market, the Tapals dispelled the common impression that their capital base would soon be eroded. The company grew under Faizullah Tapal, whose son Aftab today brings a lot of innovation and marketing vision to make Tapal a household name. After having lived abroad, Aftab rushed hack home with flourishing ideas and introduced new concepts in the commodity that was first sold at Thomas Garway’s Coffee House in London in 1657. Equipped with latest state-of-the art blending and tea-mixing paraphernalia. Tapal is today Pakistan largest tea company as its consumption runs into millions of cups every month, according to an estimate by this company’s marketing division. In December 1997, Tapal Tea became the first Pakistani of its kind to have attained the ISO-9001 certification. Tapals are also known to have stakes in power generation business. But their tea makes the Tapals known to all. The group claims nearly 1.4 million cups of tea in Pakistan are made of Tapal every hour.
22. The Atlas Group
This group was founded by Yousaf Sherazi, a former Income Tax official and journalist in 1962 with a capital of Rs 03 million only. The first company set by the Atlas Group was Sherazi Investments (Pvt) Limited and since then, there is no looking back. The East Pakistan tragedy, however, nearly crippled Sherazi but he never lost hope and went out forming numerous joint ventures with leading Japanese concerns like Honda. Atlas-Honda today is a name to reckon with in country’s engineering sector and associated with this just one name are hundreds of vendors. He holds stakes in insurance, financial services, information technology, leasing, warehouses, office equipment, motor cars and motorcycle-assembling units, besides running a renowned firm that manufactures batteries. Sherazi owns the Atlas Investment Bank too. The Federal Budget 2004-05 is perhaps the only budget in country’s history that has hit the very influential car manufacturers on the head, otherwise people like Yousaf Sherazi have always managed to dictate terms where it matters. The Atlas Group owns no less than seven companies quoted on the stock exchanges of Pakistan. The group’s assets are believed to have touched the Rs 15 billion mark and so have the sales.
23. The Abid Group
Sheikh Abid Hussain alias Seth Abid. He is one of the most resourceful developers/builders in the country owning vast stretches of land in major cities. On this land worth many billion of rupees, Seth has constructed residential schemes under the brand name of “Green Fort.” Seth came into this business after decades of notoriety as being one of the spearheads in cross-border smuggling. While many remember Seth for his allegedly illegal trading stints, a lot of informed circles still say with conviction that he, along with Dr.Qadeer and former Premier Bhutto, was the brain behind the success of Pakistan’s nuclear programme. About three dozen of Seth’s very close relatives, friends and nephews are members of country’s bourses and for many years now, the Seth Abid group assumes the role of king-makers during the annual polls of these stock exchanges. He is a leading investor in stocks, metals and currency but what gives him immense pleasure is his philanthropic institution Hamza Foundation that he sponsors for the welfare of deaf and dumb children.
24. The Sheikhani Family
They are one of the most reputed land developers in the country. The Sheikhani, although not a very big industrial establishment by any means, are led by Abu Bakar Sheikhani. The Sheikhanis are famous for their construction and land development-related errands. Abu Bakar is deemed to be one of the largest investors in real estate trade at Gwadar Port. He has all the right connections that are required to be in such business. Despite being well known to the national political circles, the man in street knew more of him during March/April 1991 when he surfaced as the single largest contributor to then Premier Nawaz Sharif’s Debt Retirement Fund with a donation of Rs 450 million.
25. The Dadabhoy Group
Abdul Ghani Dadabhoy was the founder of Dadabhoy group, starting in trade and branching off into the construction business. The group has a big share of cement market in Southern Pakistan. Memons by clan, Dadabhoys are closely related to the Bawanies. Abdul Ghani Dadabhoy had five sons and two daughters, namely Noor Mohammad Dadabhoy, Mohammad Farooq Dadabhoy, Mohammad Hussain Dadabhoy, Abdullah Hussain Dada Bhoy and Ghulam Mohammad Dadabhoy. Daughters are Mrs MehrunisaJaffer and Mrs Zaibunisa Tanveer. This Group has massive investments in cement, energy, construction, leasing, polyester, banking and insurance etc. Dadabhoys are seasoned campaigners and perhaps do not like being brought into any sort of reckoning like the Habibs. Despite being a formidable business entity, this family is deemed to be extremely reluctant throughout its history, when it comes to flashing headlines, but mind you these unassuming Dadabhoys are still news-worthy. Any good day, you might hear them doing something new. Stock pundits know a lot more about their past stints at the country’s bourses.
26. The Bahria Town (Pvt) Limited
Malik Riaz Hussain heads the massive project which is currently developing state-of-the-art schemes in Lahore and Rawalpindi/Islamabad. Though Malik Riaz may not be having a very renowned name in business circles, fact has it that the value of his land-holdings both within & outside Pakistan amounts dozens of billions of rupees. Emerging out of the blue, this developer has reportedly developed tremendous connections where it matters in Pakistan-One of the few reasons why his constructed projects get completed in time without hindrance. Whether he has gifted bungalows free of cost of country’s bigwigs or offered them at highly concessional rates, the reality on the ground is that Malik has managed to mesmerize most through his generous wallet. Possessing no convincing financial background, Malik Riaz is known to have been benefited immensely-courtesy patronage of former Pakistan Navy chief admiral retired Mansoor ul Haq. Others say both Malik and the admiral had stuck a $ 200,000 deal but the man behind the Bahria Town is least moved and irrespective of who is in power; he continues to build house after house-swelling his wealth. And then he is happy being a sponsor for many-welfare parties held under patronage of the ruling elite.
27. Adamjee Group
The seed of the formidable Adamjee Empire was sown by Haji DAwood in 1896 by establishing a commodity trading company. His son Sir Adeamjee, Haji Dawood went out building a match factory, second largest of its kind then, in 1923 at Rangoon (Burma). By 1947 Adamjee Group wan the biggest exporter of jute from Calcutta. During Bhutto’s nationalization, they lost the Muslim Commercial Bank & stakes in the Mohammadi Steamship Company, leaving then with only Adamjee sugar Mills and Adamjee Cotton Mills, Karachi. Toda, they own the KSB pumps, besides having poured money in paper flooring, diesel engineering, construction centre, garments, general trading, insurance and chemicals etc. one of the biggest names in 1970’s, the Adamjee some-how failed to keep hold on Pakistan’s largest insurance companies. The Adamjee Insurance Company is one of them, which still has around 70% of country’s total insurance business & is the most internationally reputed and accepted Pakistani company of its kind.
28. Jahangir Siddiqui& Co
This firm has floated ABAMCO which is perhaps the largest mutual fund in Pakistan’s capital market arena. The firm offers full financial services in the securities industry. ABAMCO is a joit venture among major Pakistani and foreign institutions including International Financial Corporation (IFC) headquartered in Washington. Muslim Commercial Bank, Saudi Pak Commercial Bank & Messrs AMVESCAP, which is a British company created through the merger of the AIM Management Group with and into a subsidiary of INVESCO which is one of the largest asset managers on the globe having assets worth approximately $ 348 billion under its direct management. While the Munawwar Aslam Siddiqui is the Chairman of this apex capital market operator, Najam Ali sits in the Chairman’s office of the Jahengir Siddiqui and company. The Pakistan Credit Rating Agency (PCRA) has awarded heartening long and short term ratings to this concern. ABAMCO was incorporated in 1995. ABAMCO is the first asset management company in the private sector in the country. MCB, with a deposit base in excess of Rs 182 billion & operating with a network of 257 on-line branches too has played a major role in ABAMCO’s success.
29. Chenab Group
Mian Muhammad Latif supervises this group along with his brother Mian Ashfaque- a legislator in the National Assembly of Pakistan. Founded in 1975, Chenab Limited set up its first fashion outlet “Chen One.” Chen One has seven outlets throughout Pakistan. After establishing its retail chain stores in various cities of Saudi Arabia, the group is now planning to establish its new retail chains in Bahrain, UA.E, Qatar, Kuwait and Central Asian Republics. While Chenab Group is an eight-time Export Trophy winner, its Chief Mian Latif has won the `Businessman of the Year award on four different occasions from various business bodies. Chenab is principally engaged in manufacture and distribution of clothing, furniture goods, including non-iron suit, quilt cover and curtains etc. Chenab processes 50 million square metres fabric weaving and 75 million square metres fabric dyeing every year and has established a global sales network spanning across five continents. Chenab is licensed to the Swedish Texcote Technology in the manufacturing and sale of textile materials, garments and textile house-hold goods. In August 2003, the Chenab Group signed a Rs 900 million loan facility with the National Bank of Pakistan. The group’s textile products have been awarded the Oekotex 100 accreditation.
30. Sitara Group
Started its activity with textile weaving as early as 1956, under brothers Haji Abdul Ghafoor and Haji Bashir Ahmed. It is now its textile cloth finishing and processing, textile spinning, chlor-alkali sector and in power generation. The units owned by this establishment include Sitara Chemicals, Sitara Chemicals (Textile Division 1) and Sitara Chemicals (Textile Division 11), Sitara Textiles, Sitara Energy and Yasir Spinning. The charities being managed under the aegis of Sitara group are Aziz Fatima Hospital, Ghafoor Bashir Children Hospital and Aziz Fatima Girls School. Sitara’s name with the industrial City of Faisalabad is synonymous. They are the decades-old veterans in business, who have excelled in leaps and bounds. At their units, the owners of Sitara use technology imported from Japan, UK and Germany and are export leaders in bedding and fabric collection to South America, USA, Canada, New Zealand and Europe. Their textile divisions together operate at strength of 33,984 spindles. The Sitara (group, to a common man, is more famous for its lawn brands like Sitara Sapna and Mughal-e-Azam. The men at helm of affairs in Sitara hardly believe in setting up dozens of units, of which they are otherwise very much capable of.