. 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. Chinioti by 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!
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. 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’s brother 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.
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. 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.
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, telecommunication, 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 Monnoo Group
The Monnoo dynasty was founded by two brothers-Dust
Muhammad and Nazir Hussain in 19405 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!
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 by 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.
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.
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 forms
synergies 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.
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.
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.
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.
18. Gul Ahmad/Al-Karam Group
Gut 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.
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 nre 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.
20. The Servis Group
Shahid Hussain is the Chairman of this massive
foot-wear giant whicb 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.
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.
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
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 the hegemony 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.
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.
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.
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.
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.
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
Mehrunisa Jaffer 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.
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.
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.
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.
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 induxtries. 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.
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.
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.
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.
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.
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. Chinioti by 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!
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. 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’s brother 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.
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. 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.
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, telecommunication, 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 Monnoo Group
The Monnoo dynasty was founded by two brothers-Dust
Muhammad and Nazir Hussain in 19405 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!
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 by 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.
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.
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 forms
synergies 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.
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.
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.
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.
18. Gul Ahmad/Al-Karam Group
Gut 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.
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 nre 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.
20. The Servis Group
Shahid Hussain is the Chairman of this massive
foot-wear giant whicb 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.
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.
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
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 the hegemony 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.
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.
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.
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.
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.
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
Mehrunisa Jaffer 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.
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.
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.
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.
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 induxtries. 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.
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.
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.
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.
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.
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