Richest in Pakistan

8/8/2019 Richest in Pakistan

1/18

Qwertyuiopasdfghjklzxcvbnmqwerty

opasdfghjklzxcvbnmqwertyuiopasdf

hjklzxcvbnmqwertyuiopasdfghjklzxcv

bnmqwertyuiopasdfghjklzxcvbnmqw

tyuiopasdfghjklzxcvbnmqwertyuiop

df

RICHEST PEOPLE IN

PAKISTAN

[UPLOADED BY: OMER ARIF]


2/18

Short-listing Pakistans most influential business magnates or Groups has never been aneasy task because there are the people who have been very powerful in nearly everyregime that has held this countrys reins since the last 60 years and then we have hadthose seasonal species that maneuvered their voice to be heard better than most within thepower corridors, but later vanished into the oblivion for one reason or the other. We have

selected only those tycoons who have made their presence felt for a better part ofcountrys history, have earned consistently, have been setting up units at regular intervalsor have been legends in stocks, currency or real estate business

The list excludes many names that have previously qualified and all of Pakistans mostprominent feudal land lords who would definitely make it to the top 10, expect the fewland owners which have declared their assets and work force and registered with the CBRIslamabad. In order to promote the new and unknown Pakistani magnates we haveexcluded in previous entities

Unfortunately, our extensive research does not currently include the names of a few stars

that shone brightly amidst the galaxy of the influential creed of yesteryear like C.M.Latifof BECO- the Steel Man of Pakistan- who did make a lot of name once, but then gotgifted with contentment somehow, although the late business wizard got very badly hit byBhuttos nationalization of 1970 which had inflicted an astounding thud to everybody inbusiness then. Had it not been the case, many of our tycoons may well have managed togain the kind of status greeting the likes of Birlas and Tatas in India today, if not the onesaluting Bill Gates or Warren Buffet. Among these gifted individuals, you will findpoliticians-turned-businessmen, businessmen-turned-politicians or even the businessmen-cum-politicians. With malice towards none and with no intention to decorate somebody,We thus takes the pride of announcing these names. We hope this document will go along way in serving as the most authentic endeavor of its kind for a very long time to

come. It has been prepared very carefully in consultation with leading real estate barons,stock moguls, business leaders of virtue and senior bureaucrats at the Central Board ofRevenue

1 -Mian Muhammad Mansha Yaha Pakistan

Ranking: 1 Worth: 1.25b ($2.5billion)Industry: Businessman

Mansha has around 40 companies on board. Mansha, who owns the Muslim CommercialBank is also setting up a $ 17m paper mill. He is one of the richest Pakistanis around.

Nishat Group was countrys 15th richest family in 1970, 6th in 1990 and Number 1 in1997. Mansha is on the board of nearly 50 companies. He is deemed to have madeinvestments in many bourses, currency and metal exchanges both within and outsidePakistan. He could have bought the United Bank too, but then who doesnt haveadversaries. Nishat Group comprises of textiles, cement, leasing, insurance andmanagement companies. If Mansha was bitten by Bhuttos nationalization stint of 1970,his friends think he was compensated by Nawaz Sharifs denationalization programme toa very good effect. There is no stopping Mansha and he is still on the move


3/18

Nishat group assets are $4.4Billion. He is sometimes even regarded as the richestPakistani around by his friends claiming he does not show it off

2 -Asif Ali Zardari Pakistan

Ranking: 2 Worth: 900m ($1.8billion) Industry: Politics

Asif Zardari dubbed Mr 10% an unknown happy-go-lucky son of a small-timebusinessman who struck gold by marrying one of the worlds most glamorous womenFormer Prime Minister of Pakistan Benzair Bhutto. Taking advantage of his wifesauthority he is known to have taken kickbacks from many deals inside and outside ofPakistan. The most famous was a $4 billion deal to buy 32 Mirage jets from the Frenchcompany Dassault. Documents, which include letters from Dassault executives, indicatean agreement was reached to pay a 5% remunerationabout $200m to MarletonBusiness, a BVI company controlled by Zardari. Besides these many more kickback dealswere taken with companies such as ARY Gold, Social de Surveillance (SGS), Cotecna,

and ZPC Ursus, a Polish tractor company

Zardari assets holding amount into hundreds of millions of dollars easily, Having 8 primeproperties in the UK, of which once is the famous Rockwood Estate 365 acres in Surrey,worth 4.35m has now been sold and money sent back to the Govt. of Pakistan. Also 14multi-million dollar mansions in the USA, including owning Holiday Inn hotel Houston,Texas Owned by Mr 10% and Iqbal Memon and Sadar-ud-Din Hashwani

They (Zardari and B.Bhutto) also have huge business ventures in the Middle East runninginto hundreds of millions if not billion mark. Mr Zardari also has huge stakes in sugarmills all over Pakistan,which include: Sakrand Sugar Mills, Nawabshah, Ansari Sugar

Mills, Hyderabad, Mirza Sugar Mills, Badin, Pangrio Sugar Mills, Thatta and BachaniSugar Mills, Sanghar

3 -Sir Anwar Pervaiz UK

Ranking: 3 Worth: 750m ($1.5billion) Industry: Businessman

Chairman of Bestway Group. The Bestway Group started in 1976 with its first Bestwaycash and carry warehouse opened in London. Today the have in total around 50 Cash andCarrys. Including their recent takeover of rival group Batleys for around 100m.Bestway Group ventured into Pakistans huge the cement business in 1995 and set up

cement manufacturing plant in Pakistan at a cost of $120 million

Taking Advantage of Pakistan growing economy they also acquired a 25.5% stake inUnited Bank Limited in 2002. Today, the Bestway Group has interests in cash & carrywholesale, property investments, retail outlets, milling of rice, lentils and pulses, cementproduction and more recently into banking. The groups total sales amounted to in excessof 2 billion. The group provides direct employment to thousands in the UK andPakistan. The have many interests in Pakistan too. Sir Anwar Pervaiz and his his partners


4/18

sheer hard work has bought them to outstanding international levels, which definitelymakes him an ideal role model for many young Pakistanis today. He still on the move!

4 -Nawaz Sharif & Shahbaz Sharif family Saudi Arabia/Pakistan

Ranking: 4 Worth: 700m ($1.4billion) Industry: Politics/Businessman

Mr Sharif Businessman turned politician the former Prime Minister of Pakistan. He wasousted in a military coup in 1999 and was forced to forfeit $9million dollars and some ofhis assets including his $5m Mansion is Raiwind near Lahore. Before becoming PM hewas a major share holder along with his brother and cousins of Ittefaq Group, havingassets well in excess of 50m in the 90s. However he got richer when he tookcommissions from foreign companies for construction in Pakistan. He build the firstmotorway and many new roads and took heavy kickbacks. He then also stole $100mfrom the Iqra funds, he started a new scheme Ghar Apna in which he again lootedaround $40m, the Mulk swaaro scheme involving public & govt. money collections to

help pay pf Pakistans debts also was pocketed. Today he lives in exile in Saudi Arabiawhere it is known he has a new huge business empire in various sectors

-Saddaruddin Hashwani Pakistan

Ranking: 5 Worth: 550m ($1.1billion) Industry: Businessman

Saddaruddin Hashwani is Chairman Hashoo Group is known for his dominance inPakistans hotel industry, though Hashwanis are have huge strength in real estate businesstoo. Hashwanis are involved in trading of cotton, grain and steel and till thenationalization 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 andbarley. It owns textile units, besides having invested billions in mines, minerals. hotels,insurance, batteries, tobacco, residential properties, construction, engineering andinformation technology. In 1984, Hashwani defeated the Lakhanis in the bid for PremierTobacco but was arrested along with his brother Akbar in 1986 for allegedly evadingcustoms duty on cigarettes. Sadarduddins brother Akbar and the children of another latebrother Hassan Ali Hashwani together manage around 45 companies. Akbar runs thesecond Hashwani Group. He is one of the most well-known magnates in Pakistan who isa regular invitee at the Diplomatic Enclave. The list of local and international bigwigsknown personally to Hashwani is unending

6 -Nasir Schon & family U.A.E/Pakistan

Ranking: 6 (tied at 6) Worth: 500m ($1billion) Industry: Businessman

Nasir Schon is a prominent business leader of Pakistan and the CEO of Schon Group.Nasir Schon is the son of Captain Ather Schon Hussain, an ex-pilot of PIA. The Schonfamily is one of the few striving Muhajir Urdu business families in Pakistan. Starting offin Singapore in 1982, the peek of Schon group was in 1995 when they owned National


5/18

Fibres, Schon Bank, Schon Textiles and Pak-China Fertizilers. Famous for the trend-setting roundabout, Schon Circle, Nasir Schon is also known to be one of the first peopleto have a Rolls-Royce in Pakistan. Directors of Schon group flew to Dubai in 1997 inexile after the dismissal of ex-Prime Minister Benazir Bhutto. The directors of Schongroup were known to have close contacts with the husband of former Prime Minister,

Asif Zardari. Many assets of the Schon group were auctioned by the Nawaz Sharifgovernment. Schon Group is the only group in Pakistan who has paid the governmentover 3 billion rupees ($65m) in order to return from exile. Living in Dubai gave NasirSchon an opportunity to start businesses there. Currently working on an $830 million realestate project known as Dubai lagoon, Schon group is also fighting to get back the assetsthey once lost. Currently, the Schon group operates a pilot training center in Pakistanknown as Schon Air

7 -Abdul Razzaq Yakoub & family U.A.E

Ranking: 6 (tied at 6) Worth: 500m ($1billion) Industry: Businessman

Mr Yakoub is a prominent Pakistani expatriate businessman based in Dubai. He is thepresident ARY group ($1.5Billion turnover) and World Memon Organization (WMO). Heis one of Pakistans biggest media barons controlling around 7 channels. Besides this hehas a huge property holdings in Karachi, Islamabad and Dubai amounting to over $200m.He is major in the gold market also having around 20 outlets in Asia. He has also beeninvolved in paying Asif Zardari $5m in 1990s for allowing him to import/export gold.Which he denies and claims is government forgeries

8 -Rafiq Habib & Rasheed Habib Pakistan

Ranking: 7Worth: 450m ($900) Industry: Businessman

Leg end has it that the Goddess of Wealth has been in love with the seasoned Habibs morethan anybody else in Pakistan. Most pundits believe that Habibs own at least 100companies 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-afactory owner in Bombay. The financial strength of the Habibs can be gauged from thefact that Muhammad Ali Habib gave a cheque of Rs 80 million to Quaid-e-Azam in 1948at a time when Pakistan government was penniless owing to delay in transfer ofPakistans 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 BankA.G Zurich, Bank Al-Habib, Indus Motors assembling Corolla cars and many dozens ofunits 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 RashidHabib in two distinct groups. What makes them extremely influential players of all timesis the fact that for dozens of top businessmen today, Habib were a myth once


6/18

9 -Tariq Saigol & Nasim Saigol Pakistan

Ranking: 8 Worth: 425m ($850) Industry: Businessman

Hailing from Jhelum. The pioneer of the Saigol dynasty in 1890 was Amin Saigol who

established a shoe shop that eventually transformed into Kohinoor Rubber Works. Andthen times saw them shining literally like the Kohinoor until their progress was halted byNationalization in which they lost two-thirds of their wealth. Saigols got trifurcated in1976 and 15 descendents of Amin Saigols four sons got a share. The name of the Saigolshas been used in this part of the world as similes describing quantum of wealth. YousafSaigol, along with his brothers Sayeed Saigol, Bashir Saigol and Gul Saigol thennourished an excellent crop. In 1948, Saigols established the Kohinoor Textile Mills witha cost of Rs 8 million and this group happens to be the first to open an LC with the StateBank of Pakistan. They bought the United Bank in 1959 and then witnessed five of theirunits getting nationalized. They lived in Saudi Arabia during the Bhutto regime. Today,cousins Tariq and Nasim are holding the familys fort together and have risen to

unprecedented heights in individual capacities. NAB did haunt Nasim but Tariq spentmore time either accepting or refusing prized slots everywhere. Tariq is the one of thefinest business brains around

10-Dewan Yousaf Farooqui Pakistan

Ranking: 9 (tied at 9) Worth: 400m ($800) Industry: Businessman

Mr Farooqui. The mentor of this group has been the Sindh Minister for Local Bodies.Industries, Labour, Transport, Mines & Minerals. Dewan Mushtaq Group is one of thePakistans largest industrial conglomerates in sectors like polyester acrylic fiber,

manufacturing and automotives. Six of their companies are listed at the Karachi & stockExchange and one at the Luxembourg bourse. Dewan Farooqui Motors assembles around10,000 cars annually under technical license agreement with Hyundai and Kia Motors ofKorea. The Dewan Salman Fiber is the pride of this empire as it ranks 11th in the worldin total production capacity. The group owns three textile units, a motorcyclemanufacturing concern and the largest sugar unit in the country. Dewans also havebusiness interests in India. They possess dozens of millions of shares of Saudi Cementand Pak land Cement. They also have the franchise licence for BMW in Pakistan andnow Rolls Royce showrooms

11 -Sultan Ali Lakhani & family Pakistan


The Lakhanis are currently having a hard time at the hands of NAB. Sultan Lakhani andhis three brothers run this prestigious group and the chain of McDonalds restaurants inPakistan. NAB has alleged the Lakhanis of having created phoney companies throughworthless directors and raised massive loans from various banks and financialinstitutions. Sultan is currently abroad after having served a jail term with younger sibling


7/18

A min, though the latter was released much earlier. NAB had reportedly demanded Rs 7billion 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 Ismaelitycoons. Their stakes range from media, tobacco, paper, chemicals and surgicalequipment to cotton, packaging, insurance, detergents and other house-hold items, many

of which are joint ventures with leading international conglomerates. Though Lakhanisare in turbulent waters currently, the success that greeted them during the last 25 yearsespecially has been tremendous. They have rifts with large business empires despitebeing known fur their genteel nature. Whether it is any government in Sindh or at theFederal level, Lakhanis have had trusted friends everywhere, though the present era hasproved a painful exception

12 -Malik Riaz Hussain Pakistan


Malik Riaz Hussain heads the massive project which is currently developing state-of-the-art schemes in Lahore, Karachi and Rawalpindi/Islamabad. Emerging out of the blue, thisdeveloper has reportedly developed tremendous connections where it matters in Pakistan-One of the few reasons why his constructed projects get completed in time withouthindrance. Whether he has gifted bungalows free of cost of countrys bigwigs or offeredthem at highly concessional rates, the reality on the ground is that Malik has managed tomesmerize most through his generous wallet. His land-holdings both within and outsidePakistan amounts to nearly a billion dollar. He is the man behind the Bahria Town.Irrespective of who is in power; he continues to build house after house-swelling hiswealth. He is also the first man to drive a Bentley car on Pakistani soil

13 -Sheikh Abid Hussain alias Seth Abid Pakistan


Sheikh Abid Hussain alias Seth Abid. He is one of the most resourcefuldevelopers/builders in the country owning vast stretches of land in major cities. On thisland worth many billion of rupees, Seth has constructed residential schemes under thebrand name ofGreen Fort. Seth came into this business after decades of notoriety asbeing one of the spearheads in cross-border smuggling. While many remember Seth forhis allegedly illegal trading stints, a lot of informed circles still say with conviction thathe, along with Dr.Qadeer and former Premier Bhutto, was the brain behind the success of

Pakistans nuclear programme. About three dozen of Seths very close relatives, friendsand nephews are members of countrys bourses and for many years now, the Seth Abidgroup 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 immensepleasure is his philanthropic institution Hamza Foundation that he sponsors for thewelfare of deaf and dumb children. Pakistan has not had a single ruler, politician,bureaucrat or Army General who doesnt 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


8/18

14 -Mian Mohammed LatifPakistan

Ranking:11 Worth: 350m ($700) Industry: Businessman

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, ChenabLimited set up its first fashion outlet Chen One. Chen One has seven outlets throughoutPakistan. After establishing its retail chain stores in various cities of Saudi Arabia, thegroup is now planning to establish its new retail chains in Bahrain, UA.E, Qatar, Kuwaitand Central Asian Republics. While Chenab Group is an eight-time Export Trophywinner, its Chief Mian Latif has won the Businessman of the Year award on fourdifferent occasions from various business bodies. Chenab is principally engaged inmanufacture and distribution of clothing, furniture goods, including non-iron suit, quiltcover and curtains etc. Chenab processes 50 million square metres fabric weaving and 75million square metres fabric dyeing every year and has established a global sales networkspanning 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.The groups textile products have been awarded the Oekotex 100 accreditation

15 -Haji Abdul Ghafoor & Haji Bashir Ahmed Pakistan


Sitara Group Started its activity with textile weaving as early as 1956, under brothersHaji Abdul Ghafoor and Haji Bashir Ahmed. It is now its textile cloth finishing andprocessing, textile spinning, chlor-alkali sector and in power generation. The units ownedby 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. Sitaras name with theindustrial City of Faisalabad is synonymous. They are the decades-old veterans inbusiness, who have excelled in leaps and bounds. At their units, the owners of Sitara usetechnology imported from Japan, UK and Germany and are export leaders in bedding andfabric collection to South America, USA, Canada, New Zealand and Europe. Their textiledivisions together operate at strength of 33,984 spindles. The Sitara (group, to a commonman, is more famous for its lawn brands like Sitara Sapna and Mughal-e-Azam. The menat helm of affairs in Sitara hardly believe in setting up dozens of units, of which they areotherwise very much capable of

16 -Sheikhani Family Pakistan


They are one of the most reputed land developers in the country. The Sheikhani, althoughnot 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.


9/18

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 beingwell known to the national political circles, the man in street knew more of him duringMarch/April 1991 when he surfaced as the single largest contributor to then PremierNawaz Sharifs Debt Retirement Fund with a donation of $ 8million. 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 $ 2,50,000per acre to ordinary investors. But that is the way Sheikhani runs his vastland/construction empire. Accusations dont disturb Sheikhani, who according to manylarge developers is a man who has managed to create tremendous impression in landbusiness. The rumours of his landing in any Pakistani City for land acquisition purposes,helps the price of real estate surge unprecedented overnight

17 -Razzaq Dawood Pakistan/UAE


Razzaq presently heads one of Pakistans biggest construction and engineeringconglomerate know as Dawood group/Descen group. With a roaster of impressive clients.His group has won many contracts in Dubai, Saudi Arabia and Iraq and employs over1,000 people directly. His name was more prominent among the top 22 richest families in1970 until the Bhutto nationalization which then made him set up abroad, he returned toPakistan in the early 90s and started from scratch and today makes it in the top easily.The group also has investment of $300m in Bangladesh in investments in fertiliser,energy and infrastructure and development sectors

18-Byram Dinshawji Avari Pakistan


Byram Dinshawji Avari is a prominent Pakistani Parsi tycoon in Karachi, Sindh,Pakistan. Together with his sons Dinshaw and Xerxes and their direct families, he ownsand operates the Avari Group of companies, of which he is the chairman. Hotelmanagement is the Avari Groups core business. In Pakistan, the group owns and operatesAvari Hotels which includes 5-star deluxe hotel in Lahore, the 5-star Avari Towers andthe seafront Beach Luxury Hotel in Karachi. The group is also actively pursuingopportunities for owning and/or managing 3 and 4-star properties elsewhere in Pakistan.The Avari Group is the first Pakistani company to have obtained international hotel

management contracts: they operate the 200-room 4-star hotel in Dubai in United ArabEmirates and manage the 200-room Ramada Inn in Toronto at Pearson Airport in Canada

19-Rafiq Rangoonwala Pakistan



10/18

Mr Rafiq Rangoonwala, Chief Executive Officer Cupola Group of Companies, was bornin Karachi, did BA (Hons.) from University of Karachi, went to United States of Americain 1979, and did Executive Development Course from Whittemore School of Business,University of New Hampshire along with several management courses from U.K, U.S,Canada, Australia and Singapore. In 1980, he started his career in Fast Food restaurants

from KFC in Houston. Since then he has managed several other brands alongside KFClike Pizza Hut, Harry Ramsdens, TGI Fridays, Pizza Express etc. e joined ArtalRestaurants International as CEO in October 1999 and is currently heading Cupola Groupof Companies who has franchise rights in Pakistan for KFC, Indulge, Freshens and Casa.The associate Investment Company of Cupola is AL ABRAJ, with approximately US$400 million under management

20-Shimmy Querishi USA


A jet-setting international businessman who flys by jet and swings a polo mallet withsome of the worlds top players, Qureshi seems a model of successful enterprise.Shimmys business interests are mainly property, which with the boom and his holidingshas took his wealth to a new level. Although people may remember him for his stunt inthe early 90s with George Lindemann, the billionaire founder of Cellular One, whenLindemann took him to court claiming he has cheated them in to a deal to buy their homeon Hurlingham Drive in Wellington for $3.5 million. A year before the Lindemanns filedtheir suit, Qureshi bartered with another wealthy family the al-Thanis, who rule theArab country of Qatar to buy Gulf Union Bank in the Cayman IslandsIn May 1997, the al-Thanis agreed to sell Gulf Union to International Business Holdingsa Cayman Islands company owned by Qureshi for $4.5 million, according to court

records

While Cayman Islands officials were reviewing the deal, Qureshi named an associate,Kazmi, to run Gulf Union and a subsidiary, First Cayman Bank. Within three months,Kazmi, acting at Qureshis direction, had shunted more than $5 million from FirstCayman into his own account and into accounts held by Qureshi and the al-Thanis.Shimmy Qureshi also fully manages all the properties in the USA owned by Asif Zardari

21 -Faruque Khan Pakistan

Ranking:15 (tied at 15) Worth: 240m ($480) Industry: Businessman

The late Khan Bahadur Ghulam Faruque Khan (18991992) was a politician andindustrialist of Pakistan. He belonged to the village Shaidu in Nowshera District,Nowshera is the home of the famous Pashtun Tribe the Khattaks of the NWFP Provincein Pakistan. Because of his contribution to Pakistans Industrial development he issometimes described as The Goliath who Industrialized Pakistan., today his family ownCherat Cement Company Ltd. Cherat Papersack Ltd. Cherat Electric Ltd. MirpurkhasSugar Mills Ltd. Faruque (pvt) Ltd Greaves Air-Conditioning(pvt) Ltd Greaves


11/18

Engineering Services(pvt) Ltd Unicol Ltd.- A JV Company Madian Hydro Power Ltd. A JV Company Zensoft (pvt) Ltd and prime properties around Pakistan

22 -Shahid Luqman UK


Shahid Luqman, born in Gujrat, is a financier from Manchester and has founded PearlHoldings for the property finance market He is a prominent property developer in theUK and in Pakistan is projects run into multi-million pounds. He also runs a loan facility.Although in the past it has been noticed of him filling bankruptcy and pocketing hugeunpaid loans

23 -Mukhtar Ahmed Pakistan


La te Haji Sheikh Mohammad Ibrahim, founder of the Ibrahim Group, settled inFaisalabad after partition of India in 1947 and re-established his ancestral business ofcloth trading by the name ofIbrahim Agencies. What is known in business today asIbrahim Group with diversified business interests from Spinning to PSF, FinancialInstitutions to Banking and Energy, started off as a mere cloth trading agency just half acentury ago. Recently Mr Ahmed bought a stake in the Allied Bank at $300m

24 -Aqeel Karim Dhedi Pakistan


Starting from interests in real estate and stock-broking in the year 1947, the late HajiAbdul Karim Dhedhi (may he rest in peace) laid the foundation of what today is the AKDgroup of companies, one of the largest domestic business enterprises in Pakistan with acombined net worth of over US$ 1 billion, of which Mr Karim share is at $400m. Mr.Aqeel Karim Dhedhi, son of (late) Haji Abdul Karim Dhedhi, is the Chairman of theAKD Group. He has built the AKD Group as a leading and vibrant set of businessenterprises operating in key sectors of Pakistans economy, ranging from stocks andshares, media, textile, real estate and Oil and Gas exlporation. Yet AKD is still on themove!

25 -Syed Family Pakistan


Listed on all three stock exchanges in Pakistan, Packages Limited has maintained a long-time credit rating of AA. The joint ventures and business alliances with some of theworlds biggest names reflect our forward-looking strategy of continuously improvingcustomer value through improvements in productivity. The group also acquired a good


12/18

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 ricesectors too. The groups contributions towards the cause of an independent Pakistan areunprecedented are the only packaging facility in Pakistan offering a complete range ofpackaging solutions including offset printed cartons, shipping containers and flexible

packaging materials to individuals and businesses world-wide. They employ over 4000people

26 -Saif Family Pakistan


Is owned and operated by the sons of famous NWFP lady politician Begum KalsumSaifullah. Her eldest son Javid Saifullah heads this very powerful business group. Javidobtained 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 Chairmanof All Pakistan Textile Mills Association (APTMA) for two years and NWFP for sevenyears. He has also been the member Task Force IT & Telecommunication AdvisoryBoard, 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 20years. Saifullahs are in power always, in one form or the other. Javaid s brothers AnwarSaifullah Khan (Former Federal Minister), Salim Saifullah Khan (king-maker in NWFPpolities) and Osman Saifullah (another APTMA & wizard) have very close family tieswith a lot of key politicians in the country, besides being related directly or indirectlythrough marriages to the families of a few leading and famous Army Generals who ruled

Pakistan

27 -Jehangir Elahi Pakistan


Jehangir Elahi is brother in law of Mian Mohammad Mansha and is ranked among thetycoons in Pakistan. He has launched several projects as joint ventures with MianMohammad Mansha, as for example Genertech, one of the earliest private sector powerplants conceived in Pakistan. Independently his group has four companies listed on thestock exchange

28-Sherazi Family Pakistan


This group was founded by Yousaf Sherazi, a former Income Tax official and journalist in1962 with a capital of Rs 03 million only. The first company set by the Atlas Group wasSherazi Investments (Pvt) Limited and since then, there is no looking back. The East


13/18

Pakistan tragedy, however, nearly crippled Sherazi but he never lost hope and went outforming numerous joint ventures with leading Japanese concerns like Honda. Atlas-Honda today is a name to reckon with in countrys engineering sector and associated withthis just one name are hundreds of vendors. He holds stakes in insurance, financialservices, information technology, leasing, warehouses, office equipment, motor cars and

motorcycle-assembling units, besides running a renowned firm that manufacturesbatteries. Sherazi owns the Atlas Investment Bank too. The Federal Budget 2004-05 isperhaps the only budget in countrys history that has hit the very influential carmanufacturers on the head, otherwise people like Yousaf Sherazi have always managed todictate terms where it matters. The Atlas Group owns no less than seven companiesquoted on the stock exchanges of Pakistan. The groups assets are believed to havetouched the hundreds of millions dollars mark and so have the sales

29-Noon family Pakistan

Ranking: 19 Worth: 190m ($380m) Industry: Businessman

Noon family comes from Tiwana family from Mitha Tiwana. The Tiwana family lives inan old historical village in Khushab district. The Tiwana caste is a very popularlandholding and influential political caste in the Khushab district. The Noon Family own27 villages in Bhalwal and Bhera. The fields of these villages are very cultivated andfertile. The Landlord Noon family created many bankers, industrialists, ambassadors andpoliticians for Pakistan. The Noon family is very popular in the area because of theircharacter , their attitude,their behaviour with the people and helps the poor and needypeople in the area without any prejudice so Noon family is very well-wisher,well-behaved ,sympathetic with the area. On their land they own over 40 factories on totalranging from brick manufacturing to cotton farms and production. They are a tax paying

landlords for this reason they are the only feudal lords including in this edition

30-Mian Abdullah Pakistan


One of the largest manufacturers and exporters of textile products in Pakistan, Sapphiretechnology comes from Europe, Japan and USA. Capitalizing on the regions principalcrop, cotton, we source this locally, and augment our offerings by providing importedfiber from the worlds best crops. We work with specialized fibers bringing in the newestinnovations from major fiber and chemical producers, and our manufacturing from yarn

to finished fabric is performed in our facilities in Pakistan. Synergies are formed withoffshore garment manufacturing companies. Our products are marketed to the industrysbiggest names in Asia, Europe, Australia, and North America. Over 14,000 employees,Annual turnover US $ 500 Million

Headed by a veteran industrialist Mian Abdullah, this splendid empire owns 11 yarnspinning plants (producing 60,000 tonnes of yarn annually), 3 woven plants of greigefabric ( producing 50 million metres annually), one yarn dyeing plant (capacity 5 tonnes


14/18

per day), one knitting unit (10 tonnes per day), one knitted fabric dyeing plant (10 tonnesper day), one woven fabric dyeing and finishing plant (1.2 million metres per month) andthree power plants having the capability to produce 40 MW of energy. Sapphire formssynergies with off-shore garments companies. The group markets its products in biggestbrand names in Asia, Europe, Australia and North America. Sapphire started with one

spinning mill in 1969 and employs over 10,000 people. Mian Abdullahs repute can begauged from the fact during the October 2003 minis at APTMA, more than 1000 textilemillers 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 interimsetup. Having an influence among textile millers is no easy job but Mian Abdullah standsprivileged in this context He is often seen part of the entourages of key business leadersto foreign countries and provides input to fellow colleagues whenever requested

31 -Shahzad Family Pakistan

Ranking: 20 (tied at 20) Worth: 170m ($340m) Industry: Businessman

Shahzad Group is a reputable name which takes pride in being identified as a beacon ofbusiness development involved in almost all avenues of Nation building activities i.e.Energy, Communications, Minerals, Construction, Geophysical survey, Security andmany other ventures. Shahzad Group has , by itself, and in some cases in collaborationwith foreign and local partners, who are the leading brand names in the world, identified,initiated, supervised and successfully completed major business ventures. Shahzad Groupprides itself for its accomplishments during almost three decades of business activity. TheGroup has actively participated in enhancing Pakistans international competitiveness andsocial development, and for promotion of foreign and domestic investment in businessventures. It takes pride in delivering quality products, solutions and services that obtain a

competitive advantage over others

The Group is a wholly owned Pakistani establishment with offices in Calgary (Canada),Houston (USA), London, Kuwait, Beijing and Singapore, with a strong presence invarious other metropolises all over the world. Shahzad International Group ofCompanies,Oil and Gas,Gold and Minerals Mining,Geological surveys,Defencesupplies,Travel and Tour Operators,Flash security services and Trading Worldwide

32 -Nazir Family Pakistan


One of Faislalabads most prominent families is the Haji Nair family. Owning Masoostextiles, Mahmood Textiles, Asim Textiles and power generation plants. Son of Mr NazirShahid Nazir is also a prominent politician

33 -Abdul Bhati UK



15/18

Bhatti, 71, is a director of London-based wholesaler Bestway, which saw profits up 27%in 2005-06 at 73m on a turnover up 26% at 1.7 billion. Bhatti and his family have astake worth 140m as well as other assets

34 -Adalat Chaudhary UK


Director of the London-based Bestway cash-and-carry business established by Sir AnwarPervez

35 -Younis Sheikh UK


Bestway director Sheikh, 70, London cash-and-carry business Bestway continues to

thrive

36 -Chaudrey Zameer UK


Finance director of the London-based Bestway cash-and-carry business started in 1976by Anwar Pervez . In 2004 Pervez stepped down as managing director, Choudrey tookover. In 2005-06 Bestway profits rose 27% at 73m on turnover up 26% at 1.7 billion.Choudrey and his family have a 10.1% stake. They also own 70% of the Buybestsupermarket chain in UK

37 -Zafar Iqbal Khwaja Pakistan


Zafar Iqbal Khawaja (born January 3rd, 1952) is a prominent Pakistani businessman whoowns a number of companies around the world. He is better known in Pakistan as thePrince of Sargodha. Also referred to as the Shaheen of Sargodha (The Eagle ofSargodha). Zafar Iqbal Khawaja, is the son of a significant military commandoMuhammed Sadiq Khawaja, who worked with Muhammed Ali Jinnah (The Founder ofPakistan) during the 1947 partition of India and Pakistan. Zafar Iqbal Khawaja is most

widely known as the Managing Director of a multi-million dollar company called InterEquipment. Its Head Quarters are located at the Jebal Ali Free Zone, Dubai which is arecognized commercial capital of the Middle-East. In Mr.Khawajas business circle, he isknown for his commitment to honest work and his ethical manner of business. Within 15years, he has developed himself from a fresh college graduate, into a business tycoon.Currently, he is in the process of writing an auto-biography describing his success story.This auto-biography would be a must-read for any business-person pursuing majorsuccess


16/18

38-Shahid Hussain Pakistan


With more than 325 retail outlets and 13 wholesale depots, Service Sales Corporation

(Pvt.) Limited is the leading retail and wholesale company in Pakistan with annual sales$300m. The Company has established some of Pakistans leading footwear brandsincluding DON CARLOS, CHEETAH, SKOOZ, TOZ and LIZA and has distributionagreements with CATERPILLAR and NIKE. As part of our growth strategy, we haveexpanded our businesses to include Service Communications, Shoe Planet (Pvt.) Limitedand Soul Collections

39-Younis Brothers Pakistan


Yunus Brothers is actively involved in international trading of various products includingCotton & Blended Yarn, Cotton & Blended Fabrics, Garments, Rice, Sugar, Fertilizer,Earth moving equipments, Chemicals, Spare Parts and Automotive Vehicles etc. YunusBrothers is one of the largest export houses of the Pakistan exporting mainly to theEuropean, US, Far Eastern, Middle Eastern and African markets. Yunus Brothers annualsales turnover exceeds USD 300/- million with 95% of the sales geared towards theexport markets

40-Ghani Family Pakistan


Abdul Ghani Dada Bhoy was the founder of Dada Bhoy group, starting in trade andbranching off into the construction business. The group has a big share of cement marketin Southern Pakistan. Like other Memon groups, Dad Bhoys are closely linked throughintermarriages with other leading families like Jaffer and Bawany. Abdul Ghani DadaBhoy had five sons and two daughters, namely Noor Mohammad Dada Bhoy,Mohammad Farooq Dada Bhoy, Mohammad Hussain Dada Bhoy, Abdullah HussainDada Bhoy and Ghulam Mohammad Dada Bhoy. Daughters are Mrs Mehrunisa Jafferand Mrs Zaibunisa Tanveer

41 -Saddiq & Sons Pakistan


This group made the bulk of its fortune during the chief ministership and premiership ofNawaz Sharif when the group was sold Pasrur Sugar Mills for a token price of Rs oneand its Chairman, Mohammad Saleem was appointed managing director of NationalDevelopment Leasing Corporation (NDLC) replacing Rafiq Habib. Today the haveinvested huge amounts in prime properties around Pakistan


17/18

42 -Afzal Kushi UK


Afzal Khushi, 51, managing director of Jacobs & Turner, last year received a CBE for

services to business in Scotland. He and his brother, Akmal, 50, have made the 90mGlasgow sportswear firm a global business. They also have 30 other assets

43 -Ghulam Hassan Khan Pakistan


The SK group of companies shares a set of five core values: integrity, adaptability,excellence, unity and responsibility. These values, which have been part of the SKGroups beliefs and convictions from its earliest days, continue to guide and drive thebusiness decisions of SK companies. The SK Group and its enterprises have been

steadfast and distinctive in their adherence to business ethics and their commitment tocorporate social responsibility. This is a legacy that has earned the SK Group the trust ofmany thousand of stakeholders The SK Group comprises of six operating companies infollowing business segments: Information technology, Real estate, Developer andBuilders, Media, Welfare, Import and exports and CNG stations. The SK Group wasfounded by Sardar Gulam Hassan Khan Niazi in the mid 1980s. Sardar Khan Niazi andthose who followed him aligned business opportunities with the objective of nationbuilding. This approach remains enshrined in the SK Groups ethos to this day. RoseShopping MallCompanies owned by the family today: Paradise City, SK Trading, DUBAI Gasco 2000,chain of CNG stations SK Constructions , rose club, SK plazaz, Chuna Pa chain fast food

chinese., SKN tust and sk farms

44 -Kasim Dada Pakistan


Kasim hails from a 19th Century Memon business family known to have possessed thevision of international trade when most of their contemporaries were rather na ve onthis count. This family had offices in Burma, South Africa and countries of the Far-Eastlong before 1940. Dadas, have held decisive positions at the Karachi Stock Exchange andown shares of various Pakistani and foreign monopolies without creating any hype.

Kassim Dadas family is known to have held major local equity in multinationals likeGlaxo SmithKline, Brook Bond and Berger Paints, besides being the sponsoring directorsof 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 fromKarachi to hit cement plants in Hyderabad. It was this family which had hired MahatamaGandhi as a solicitor in 1890 to contest a business case in South Africa. Dada, was once asymbol of wealth. Had his assets not been nationalised by Bhutto he would definitely hadthe status many richest men in the world enjoy today


18/18