40 Richest Groups of Pakistan
1. THE NISHAT GROUP
Mian Muhammad Mansha Yaha is the captain of this splendid ship having around 30
companies on board. Mansha, who owns the Muslim Commercial Bank as well, is now
setting up a billion rupee ($ 17 m) paper sack project too. He is one of the richest Pakistanis
around. Nishat Group was country’s 15th richest family in 1970, 6th in 1990 and Number 1
in 1997. Mansha is on the board of nearly 50 companies. 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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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. 40 Richest Groups of Pakistan = Page 3 of 15
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 Ali and Syed Babar Ali 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 HO– — USE 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
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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. 40 Richest Groups of Pakistan = Page 4 of 15
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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 40 Richest Groups of Pakistan = Page 5 of 15
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
1905 at Calcutta. The first unit owned by the Monnoos was the Olympia Rubber Works. And
then time saw the Monnoos setting up sonic 20 textile mills in succession. Former President
Shahzada Alam Monnoo is the man behind the strength of this group-known more for its
achievements in the textile sector. Munnoos have been a symbol of wealth during the last
65 years or so. Shahzada’s brothers, .Jahengir and Kaiser are assisting him in business,
while silting APTMA Central Chairman Waqar Monnoo also hails from this magnificent group.
In East Pakistan, Monnoos had also left a few power, feed, textile and agriculture-related
units some nine in all. Their elder Munir Monnoo, after leaving East Pakistan, had set up
looms at Faisalabad. Shahzada Alum Monnoo, perhaps the well-dressed man in the country
along with Saddar-ud-Din Hashwani, is no alien for any ruler. The Monnoos are Chiniotis
too. Shahzada Alum Monnoo, after some break, is again active in the politics of Lahore
Chamber while Jahengir Monnoo is siding with Waqar Monnoo in latter’s vicious battle of ego
with Messrs Tariq Saigol and Mian Mansha. They star in business politics of and on, but
seem to have Inst the taste of ii somehow. Perhaps had enough of salutes!
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
The Lakhanis are currently having a hard time 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 40 Richest Groups of Pakistan = Page 6 of 15
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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 40 Richest Groups of Pakistan = Page 7 of 15
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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 40 Richest Groups of Pakistan = Page 8 of 15
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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 40 Richest Groups of Pakistan = Page 9 of 15
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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 40 Richest Groups of Pakistan = Page 10 of 15
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
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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 40 Richest Groups of Pakistan = Page 11 of 15
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 un-
presciently overnight.
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
40 Richest Groups of Pakistan = Page 12 of 15
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.
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
40 Richest Groups of Pakistan = Page 13 of 15
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 specializes in.
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
40 Richest Groups of Pakistan = Page 14 of 15
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.
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
40 Richest Groups of Pakistan = Page 15 of 15
Asad Shaheen Akram | 0300 & 0321-9219551 | [email protected]
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.
Reference
http://www.nidokidos.org/threads/40897-40-Richest-Groups-of-Pakistan#.UCWhjY6hBHg
