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Following is the list of the
top 40 richest families in Pakistan at the moment. It is an interesting
read and does seem like that if not 100%, then it must 80% correct. However,
it has missed some families which are sure to make the top 10, of the top of
my head I can think of two: Giga (Pardesi family) and the family that owns
ARY. Both of them gave the government of Pakistan huge interest free loans
when it was on the brink of default after the sanctions imposed due to the
nuclear tests almost crippled Pakistan. Anyway, check it out if you have
time, as it is quite a long post.
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. If Mansha was bitten by
Bhutto’s nationalization stint of 1970, his friends think he was compensated
by Nawaz Sharif’s denationalization programme to a very good effect. There
is no stopping Mansha and he is still on the move!
www.nishatpak.com
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.
www.janggroup.com.pk
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. It owns textile units, besides
having invested billions in mines, minerals. hotels, insurance, batteries,
tobacco, residential properties, construction, engineering and information
technology. In 1984, Hashwani defeated the Lakhanis in the bid for Premier
Tobacco but was arrested along with his brother Akbar in 1986 for allegedly
evading customs duty on cigarettes.
Sadarduddin’sbrother Akbar and the children of another late brother Hassan
Ali Hashwani together manage around 45 companies. Akbar runs the second
Hashwani Group. He is one of the most well-known magnates in Pakistan who is
a regular invitee at the Diplomatic Enclave. The list of local and
international bigwigs known personally to Hashwani is unending.
www.hashoogroup.com
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.
www.packages.com.pk
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.
www.hoh.net
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.
www.saigols.com
7.
Nawa-E-Waqt Group The Nizamis may not be Rockefellers or the Sheikh
Muhammad, but arc the custodians of a highly influential media empire. Since
media is now beginning to be classified as very serious business, Clout or
this group’s head Majid Nizami and that of his nephew Arif Nizami in nearly
every sphere or the Pakistani society is being Widely acknowledged. The
impact this group has managed create on Pakistan’s political scenario since
1947 is unprecedented too. The group runs two esteemed dailies-the
Nawai-e-Waqt (Urdu) and The Nation (English). Besides publishing a few other
monthlies and weeklies. They too are serious custoniers for an electronic
media channel. Hailing from Sangla Hill, a youth Hameed Nizami (late) went
out taking a paper that was badly needed by the Muslims of India during the
Pakistan Movement. Hameed was a renowned student leader in
the sub-continent who only gained proximity with the Quaid-c-Azam because of
his distinct and selfless for an independent Pakistan. Though Hameed died
very young in 1962, he gave Majid Nizami a rich legacy to take care of. The
youngest Nizami, Khalil, died some years ago and was also part of this
illustrious group. Out of Hameed Nizami’s three sons-Shoaib, Arif and
flr.Tahir’only Arif has followed in his father’s footsteps and is the
sitting President 0f All Pakistan Newspaper Society (APNS). Nizamis are a
60-year old entity too.
www.nawaiwaqt.com.pk
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.
www.saifgroup.com
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.
www.crescenttextile.com
10. The
Monnoo Group The Monnoo dynasty was founded by two brothers-Dust
Muhammad and Nazir Hussain in 1905 at Calcutta. The first unit owned by the
Monnoos was the Olympia Rubber Works. And then time saw the Monnoos setting
up sonic 20 textile mills in succession. Former President Shahzada Alam
Monnoo is the man behind the strength of this group- known more for its
achievements in the textile sector. Munnoos have been a symbol of wealth
during the last 65 years or so. Shahzada’s brothers, .Jahengir and Kaiser
are assisting him in business, while silting APTMA Central Chairman Waqar
Monnoo also hails from this magnificent group. In East Pakistan, Monnoos had
also left a few power, feed, textile and agriculture-related units some nine
in all. Their elder Munir Monnoo, after leaving East Pakistan, had set up
looms at Faisalabad. Shahzada Alum Monnoo, perhaps the
well-dressed man in the country along with Saddar-ud-Din Hashwani, is no
alien for any ruler. The Monnoos are Chiniotis too. Shahzada Alum Monnoo,
after some break, is again active in the politics of Lahore Chamber while
Jahengir Monnoo is siding with Waqar Monnoo in latter’s vicious battle of
ego with Messrs Tariq Saigol and Mian Mansha. They star in business politics
of and on, but seem to have Inst the taste of ii somehow. Perhaps had enough
of salutes!
www.monnoogroup.com
11. 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.
www.dewangroup.com.pk
12. 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.
www.lakson.com.pk
13. The
Sapphire Group Headed by a veteran industrialist Mian Abdullah,
this splendid empire owns 11 yarn spinning plants (producing 60,000 tonnes
of yarn annually), 3 woven plants of greige fabric ( producing 50 million
metres annually), one yarn dyeing plant (capacity 5 tonnes per day), one
knitting unit (10 tonnes per day), one knitted fabric dyeing plant (10
tonnes per day), one woven fabric dyeing and finishing plant (1.2 million
metres per month) and three power plants having the capability to produce 40
MW of energy. Sapphire formssynergies with off-shore garments companies. The
group markets its products in biggest brand names in Asia, Europe, Australia
and North America. Sapphire started with one spinning mill in 1969 and
employs over 10,000 people and has an annual turnover of $ 219 million. Mian
Abdullah’s repute can be gauged from the fact during
the October 2003 minis at APTMA, more than 1000 textile millers bad tendered
their resignations against incumbent Chief Waqar Monnoo to him. Dozens of
leading tycoons had proposed his name to head APTMA in case of an interim
setup. Having an influence among textile millers is no easy job but Mian
Abdullah stands privileged in this context He is often seen part of the
entourages of key business leaders to foreign countries and provides input
to fellow colleagues whenever requested.
www.sapphire.com.pk
14. 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.
www.dawoodgroup.com
15. 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,
property investments, retail outlets, milling of rice, lentils and pulses,
cement production and more recently into banking. The group’s total sales
amounted to in excess of £ 1 billion for the year ended 30th June 2002. The
group provides direct employment to over 2300 people.
www.bestwaygroup.co.uk
16. 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.
17. 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.
www.yunusbrs.com
18. 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.
www.alkaram.com
19. 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.
www.bawany.com.pk
20. 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.
www.servis.com
21. 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.
22. The Alam
Group This establishment comprising three leather and two textile
units is led by former President Karachi Chamber Shahzada Alam, elder
brother of sitting Vice President FPCCI and Senior Vice chairman Pak-USA
Business Council Arshad Alam. Messrs Leather Connections, a joint venture
with a UK conglomerate, is one of those units managed by this group which
happens to be Pakistan’s largest exporter of value-added leather products.
While Leather Connections is looked after by Arshad Alam’s son Khurshid
Alam, the textile arm of this group is supervised by Faraz Alam son of
Shafiq Alam, the youngest Alam brother. The family has also made huge
investments in real estate and stocks, within and outside Pakistan. While
the younger creed looks after business, the elder Alams give time to their
passion of playing ring leaders in the politics of the FPCCI and
other business chambers. The group also runs an import/export entity by the
name of Continental Traders, besides having recently set sails for
investment in media too. Shahzada Alam gained more recognition when he went
out airing strong resentment against the involvement of business
institutions in country’s politics. The Alams are an eminent Chinioti family
in business for the last 150 odd years, known more for dominance in leather
sector. COMPASS is the name of the philanthropic school for retarded and
disabled children which the Alams operate in Gulberg Lahore sans any
external assistance.
www.alam-group.com
23. The Guard
Group The 87-year old Malik Shafi, decorated with Pakistan’s
highest civil award, still looks after numerous business entities with
complete vigour. Eldest of his four sons is the former LCCI/FPCCI President
lftikhar Malik who is also the sitting Chairman of Pak-US Business Council.
The Guard Group deals in automotive parts, filters, brake fluids and other
vital accessories of motor vehicles. The group has enjoyed monopoly in this
business since 1959, when the government servant turned magnate Malik Shaft
decided to enter business. Guard Rice, one of the largest exporters of this
community around the world, is being run by Shafis youngest son Shahzad
Matte who is also holding the slot of Lahore Chamber’s Vice President. The’
other two Maliks-Waqar and Shahbaz control the technical sides of their
family business, apart from keeping an eye on this
group’s real estate & agricultural land holdings. Maliks are an Arain
Punjabi family that also runs a few free hospitals and dispensaries. Malik
lftikhar however, is keener with his hobby to be in limelight all the time
and is perhaps Pakistan’s most photographed tycoon. While people refrain
from coming under camera when they grow in stature, Malik loves operating a
Lahore-Islamabad shuttle service to sit next to anyone who is ruling. But
then he delivers when needed.
www.theguardgroup.com
24. The Ejaz
Group This establishment owns country’s largest knitwear-cum-dyeing
facility at Lahore. More than half a dozen textile units of Ejaz Group are
being run by yet another chinioti scion Mian Gohar Ejaz, son of late Senator
Sheikh Ejaz. Gohar held the reins of this group very much during his college
days when Sheikh Ejaz left for his heavenly abode after protracted illness
that lasted months. Gohar is now a noted policy maker at both Federal and
Provincial Textile Boards. He is one of the Boards of Governors at the
Punjab institute of Cardiology Lahore. People started paying a heed to his
leadership abilities in 1997, when he took on the APTMA grey-heads
convincingly during the 1997 annual polls and narrowly lost to his opponent
in fight for the top slot. Gohar then had led a rebellion comprising
promising youth from renowned textile families. Against
thehegemony of stalwarts including the likes of Messrs Tariq Saigol, Mansha
and Jahengir Elahi etc. His younger brother Mian Faisal Ejaz is the
son-in-law of Shahzada Alam Monnoo. He is yet another investor in mutual
funds and real estate, though relies more on his obsession i.e the textiles
and his passion which is value-addition in this sector. The services Gohar
has rendered for creating awareness with reference to value-addition are
certainly quite meritrions.
www.ejazgroup.com
25. The
Tabani Family The Tabanis are also deemed as one of the biggest
groups associated with manufacturing, trade, export and import business.
They are one of the few Pakistani industrialists holding massive stakes in
Central Asian Republics. They own Pakistan’s first private airline-Aero
Asia. Yaqoob Tabani is this group’s chairman. The fields of Tabanis’
businesses include counter trade and barter transactions, textiles, fashion
garments, leather, tourism, automobiles, shipping, power generation, oil and
gas, metals, chemicals, fertilizers, cigarettes, cement and medicines.
Tabanis have wings stretched everywhere. You name a business field and
Tabanis are there. But despite all the clout it enjoys at the top levels,
the family opts to remain modest. Ashraf Tabani, an elder Tabani, has served
Sindh’s Governor, Provincial Minister of Finance, Industries, Excise
and Taxation between 1981 and 1984. He was appointed Honorary Administrator
of the FPCCI during the 1971-1973 periods soon after Bhutto’s
Nationalization. Ashraf Tabani has also served as Chairman Employers
Federation Pakistan, President Silk and Rayon Mills Association and former
Chairman of Industrial Development Bank of Pakistan’s Board of Directors.
They are a leading Memon family, also engaged in funding various public
welfare schemes. Though scandals can confront any industrial establishment
of this size, Tabanis have been fairly lucky in evading them.
www.tabani-group.com
26. 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.
www.tapaltea.com
27. 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.
www.atlas.com.pk
28. The Abid
Group Is run by 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.
Pakistan has not had a single ruler, politician, bureaucrat or Army General
who doesn’t know the Seth who is more of a myth for most. The Seth,
throughout his life, has avoided publicity-a fact known to most journalists.
www.abidgroup.net
29. 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. Today, his adversaries
dub him a land mafia man, alleging him for selling his Gwadar land at only $
4000 per acre only to senior Army officials while the same was
being sold at $ 2,50,000 per acre to ordinary investors. But that is the way
Sheikhani runs his vast land/construction empire. Accusations don’t disturb
Sheikhani, who according to many large developers is a man who has managed
to create tremendous impression in land business. The rumours of his landing
in any Pakistani City for land acquisition purposes, helps the price of real
estate surge unprecedently overnight.
30. 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.
31. 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.
www.bahriatown.com
32. 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.
www.adamjees.net
33. 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.
www.js.com
34. THE Din
Group The group is headed by S.M.Muneer, former president of FPCCI
and that of the Karachi Gymkhana. He is vice chairman of Muslim Commercial
Bank too.Muneer’s din Group is engaged in textiles and leather business
mainly, though this Chinoti family has also made massive investments in real
estates and stock business too.Muneer has been active in few political
tenures too, as the former two-time prime minister Benazir Bhutto had
appointed him Minister of state along with Mian Habibullah, another Chinoti
who has headed the FPCCI too. Though people still remember Habibullah as
having served as Chairman Export Promotion Bureau during Benazir Bhutto’s
regime, they tend to forget that time had come when Muneer also shared EPB’s
Fairs and Exhibition Division with him.Muneer’s son SM.Tanveer is a key
figure at APTMA Punjab Zone. He is a busy bee in business
politics. Despite hectic life schedule, he still manages to take time out
and play an active role at prime business bodies in one way or the other,
Muneer has a visible instinct to be district-a passion that has helped him
rise to all heights. At Din Textiles, the entrepreneurs have strived to
produce nearly 1000 shades by mixing dyed cotton.
www.dingroup.com.pk
35. The Adil
Group Mian Adil Mehmood, who is married to Mian Mansha’s niece, is
in textiles business mainly, but what has actually helped him climb the
ladder of fame and respect, have been his untiring efforts to resolve the
problems of bank defaulters under Governor State Bank of Pakistan, in
collaboration with country’s Development Financial Institutions (DFIs) all
of which has resulted in revival of sick industries. Both defaulters & banks
appear indebted to Adil as he has visibly save one party from a possible
action & other from spending millions of rupees on lenghthy litigation.
Along with Mian Usman, Adil was appointed member Governor SBP, s Dispute
Resolution Committee on Defaulted Loans in 2001 and since then he has been
flying between Lahore & Karachi to provide respite to some 700 defaulters
meaning thereby that he has been catalyst in
helping banks recover billions of rupees from their stuck up credits. Adil
is also senior Vice Chairman APTMA Punjab zone. By vitue of the honorary
slots he holds, this Chinoti magnate has been one of the most sought after
businessman in the country of late, despite him chanting the merit slogan.
Like most of his contemporaries, he too has excelled in philanthropic
services. Free eye-treatment is what his charity specialises in.
36. 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.
www.chenabgroup.com
37. 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.
www.sitara.com.pk
38. The
Colony Group Mian Muhammad lsmaeel Sheikh, who laid the foundation
stone of this group, set up his first factory in 1898, first flour mill in
1908, taking Colony Group’s total tally to 14 ginning factories and 4 flour
mills by 1947. The group suffered heavily during Zulfiqar Bhutto’s
nationalization and it was left only with a few textile mills, flour mills
and ginning factories. Though Sheikh Ismaeel’s heirs could not manage to
take Colony’s name to the top, they have had an excellent time. But despite
their share of hard luck, Colony Group’s owners that still run some jute,
textile and financial companies. Colony Textile Mills was the first unit of
its kind to go into operation in independent Pakistan. Ismaeel Sheikh’s sons
Aziz, Naseer, Farooq and Mughis have also been active in politics. They once
owned equities in newspaper and a few of them even went
out contesting elections in 1970. These Colony people, many thought, could
have scaled far more greater heights, because the kind of start they had in
business falls in the lap of very lucky people only.
www.colonygroup.com
39. Arif Habib Securities
This company is owned by Chairman Karachi Stock Exchange (KSE) Arif Habib.
It is one of the largest brokerage operations on the bourse. One of its
subsidiaries-Arif Habib Investment Management Limited- specialises in mutual
funds. By 2001, this concern was listed on all the three stock exchanges.
Since its inception, Arif Habib Securities has been one of the
best-performing and most profitable brokerage houses in the country, helping
its net profit jump to Rs 751.9 million by almost 200%. At the same time,
the overall capital base of this firm had almost doubled to Rs 1415.1
million till 2003. Recently, Arif went out slating the imposition of 0.1 per
cent Capital Value Tax on turnover and managed to get it slashed through
negotiations with the government. Operating with numerous high-worth
clients, Arif Habib has won it all through the
reputation and connections he has managed to build since 1989. Arif’s
success is also attributed to the generous per centage of cash dividend and
bonus issues that he believes in announcing regularly. The company’s assets
had surged from Rs 73.54 million in 1997-98 to Rs 2178.95 million by
2002-03, while earning per share had soared from 3.72 to 12532 during the
same corresponding period.
www.arifhabib.com.pk
40. Kassim
Dada Kassim Dada, hails from a 19th Century Memon business family
known to have possessed the vision of international trade when most of their
contemporaries were rather naïve on this count. This family had offices in
Burma, South Africa and countries of the Far-East long before 1940. Dadas,
have held decisive positions at the Karachi Stock Exchange and own shares of
various Pakistani and foreign monopolies without creating any hype. Kassim
Dada’s family is known to have held major local equity in multinationals
like Glaxo SmithKline, Brook Bond and Berger Paints, besides being the
sponsoring directors of Messrs Hyderabad Electronics, Automotive Battery
Limited and Interfund Bank etc. Kassim Dada is one of the few Pakistani
Tycoons who used to fly on private planes from Karachi to hit cement plants
in Hyderabad. It was this family which had hired
Mahatama Gandhi as a solicitor in 1890 to contest a business case in South
Africa. Dada, was once a symbol of wealth.
www.dadex.com
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