Accountancy Forum-Top 44 Richest Families in Pakistan
Short-listing Pakistan's most
influential business magnates or Groups has never been an easy task because
there are the people who have been very powerful in nearly every regime that has
held this country's reins since the last 60 years and then we have had those
seasonal species that maneuvered their voice to be heard better than most within
the power 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 of country's history, have earned consistently, have been setting
up units at regular intervals or have been legends in stocks, currency or real
estate business.
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 Commercial
Bank is also setting up a $ 17m paper mill. 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. He is deemed to
have made investments in many bourses, currency and metal exchanges both within
and outside Pakistan. 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.
Nishat group assets are $4.4Billion. He is sometimes even regarded as the
richest Pakistani 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-time
businessman who struck gold by marrying one of the worlds most glamorous women
Former Prime Minister of Pakistan Benzair Bhutto. Taking advantage of his wife's
authority he is known to have taken kickbacks from many deals inside and outside
of Pakistan. The most famous was a $4 billion deal to buy 32 Mirage jets from
the French company Dassault. Documents, which include letters from Dassault
executives, indicate an agreement was reached to pay a 5% "remuneration" - about
$200m - to Marleton Business, a BVI company controlled by Zardari. Besides these
many more kickback deals were taken with companies such as ARY Gold, Société
Général de Surveillance (SGS), Cotecna, and ZPC Ursus, a Polish tractor company.
Zardari assets holding amount into hundreds of millions of dollars easily,
Having 8 prime properties 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 14 multi-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
running into hundreds of millions if not billion mark. Mr Zardari also has huge
stakes in sugar mills all over Pakistan,which include: Sakrand Sugar Mills,
Nawabshah, Ansari Sugar Mills, Hyderabad, Mirza Sugar Mills, Badin, Pangrio
Sugar Mills, Thatta and Bachani Sugar 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
Bestway cash and carry warehouse opened in London. Today the have in total
around 50 Cash and Carry's. Including their recent takeover of rival group
Batleys for around £100m. Bestway Group ventured into Pakistan's 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 in
United Bank Limited in 2002. Today, the Bestway Group has interests in cash &
carry wholesale, property investments, retail outlets, milling of rice, lentils
and pulses, cement production and more recently into banking. The group's total
sales amounted to in excess of £ 2 billion. The group provides direct employment
to thousands in the UK and Pakistan. The have many interests in Pakistan too.
Sir Anwar Pervaiz and his his partners sheer hard work has bought them to
outstanding international levels, which definitely makes 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 was ousted in a military coup in 1999 and was forced to forfeit $9million
dollars and some of his assets including his $5m Mansion is Raiwind near Lahore.
Before becoming PM he was a major share holder along with his brother and
cousins of Ittefaq Group, having assets well in excess of £50m in the 90's.
However he got richer when he took commissions from foreign companies for
construction in Pakistan. He build the first motorway and many new roads and
took heavy kickbacks. He then also stole $100m from the Iqra funds, he started a
new scheme "Ghar Apna" in which he again looted around $40m, the "Mulk swaaro"
scheme involving public & govt. money collections to help pay pf Pakistan's
debts also was pocketed. Today he lives in exile in Saudi Arabia where it is
known he has a new huge business empire in various sectors.
5 - Saddaruddin Hashwani Pakistan
Ranking: 5 Worth: £550m ($1.1billion) Industry: Businessman
Saddaruddin Hashwani is Chairman Hashoo Group is known for his dominance in
Pakistan's hotel industry, though Hashwanis are have huge 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.
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 Schon family is one of the few striving Muhajir Urdu business families in
Pakistan. Starting off in Singapore in 1982, the peek of Schon group was in 1995
when they owned National Fibres, Schon Bank, Schon Textiles and Pak-China
Fertizilers. Currently, Schon Group is managed by his sons, Asher Schon and
Khizer Schon who look after day-to-day affairs in their Dubai HQ. They have also
launched Schon Ventures, which is the group investment vehicle which has
invested in Fitness, Transportation, Real Estate, and Technology start ups.
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
the president ARY group ($1.5Billion turnover) and World Memon Organization
(WMO). He is one of Pakistan's biggest media barons controlling around 7
channels. Besides this he has 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 been involved in paying Asif Zardari $5m in
1990's for allowing him to import/export gold. Which he denies and claim's is
government forgeries.
8 - Rafiq Habib & Rasheed Habib Pakistan
Ranking: 7 Worth: £450m ($900) Industry: Businessman
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.
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. And then times saw them shining literally like the Kohinoor until their
progress was halted by Nationalization in which they lost two-thirds of their
wealth. Saigols got trifurcated in 1976 and 15 descendents of Amin Saigols four
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 time either accepting or refusing prized slots
everywhere. Tariq is the one of the finest 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 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 also have the franchise licence for BMW in Pakistan and now Rolls Royce
showrooms.
11 - Sultan Ali Lakhani & family Pakistan
Ranking: 9 (tied at 9) Worth: £400m ($800) Industry: Businessman
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
have rifts with large business empires despite being known fur their genteel
nature. Whether it is any government in Sindh or at the Federal level, Lakhanis
have had trusted friends everywhere, though the present era has proved a painful
exception.
12 - Malik Riaz Hussain Pakistan
Ranking: 9 (tied at 9) Worth: £400m ($800) Industry: Businessman
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, 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. His land-holdings both within and outside Pakistan 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 his wealth. He
is also the first man to drive a Bentley car on Pakistani soil.
13 - Sheikh Abid Hussain alias Seth Abid Pakistan
Ranking: 10 Worth: £390m ($780) Industry: Businessman
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.
14 - Mian Mohammed Latif Pakistan
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, 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. The group's textile products have been awarded the
Oekotex 100 accreditation.
15 - Haji Abdul Ghafoor & Haji Bashir Ahmed Pakistan
Ranking: 12 Worth: £330m ($660) Industry: Businessman
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.
16 - Sheikhani Family Pakistan
Ranking: 13 Worth: £300m ($600) Industry: Businessman
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 $ 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 $ 2,50,000 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 unprecedented overnight
17 - Razzaq Dawood Pakistan/UAE
Ranking: 14 (tied at 14) Worth: £250m ($500) Industry: Businessman
Razzaq presently heads one of Pakistan's biggest construction and engineering
conglomerate 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
employ's over 1,000 people directly. His name was more prominent among the top
22 richest families in 1970 until the Bhutto nationalization which then made him
set up abroad, he returned to Pakistan in the early 90's 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
Ranking: 14 (tied at 14) Worth: £250m ($500) Industry: Businessman
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 owns and operates the Avari Group of companies, of which he is the chairman.
Hotel management is the Avari Group's core business. In Pakistan, the group owns
and operates Avari Hotels which includes 5-star deluxe hotel in Lahore, the
5-star Avari Towers and the seafront Beach Luxury Hotel in Karachi. The group is
also actively pursuing opportunities 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 Arab Emirates and manage the 200-room
Ramada Inn in Toronto at Pearson Airport in Canada.
19 - Rafiq Rangoonwala Pakistan
Ranking: 15 (tied at 14) Worth: £240m ($480) Industry: Businessman
Mr. Rafiq Rangoonwala, Chief Executive Officer Cupola Group of Companies, was
born in Karachi, did BA (Hons.) from University of Karachi, went to United
States of America in 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 KFC like Pizza Hut, Harry Ramsden's, TGI Fridays,
Pizza Express etc. e joined Artal Restaurants International as CEO in October
1999 and is currently heading Cupola Group of 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
Ranking: 15 (tied at 15) Worth: £240m ($480) Industry: Businessman
A jet-setting international businessman who fly's by jet and swings a polo
mallet with some of the world's top players, Qureshi seems a model of successful
enterprise. Shimmys business interests are mainly property, which with the boom
and his holidings has took his wealth to a new level. Although people may
remember him for his stunt in the early 90's with George Lindemann, the
billionaire founder of Cellular One, when Lindemann took him to court claiming
he has cheated them in to a deal to buy their home on Hurlingham Drive in
Wellington for $3.5 million. A year before the Lindemanns filed their suit,
Qureshi bartered with another wealthy family - the al-Thanis, who rule the Arab
country of Qatar - to buy Gulf Union Bank in the Cayman Islands.
In May 1997, the al-Thanis agreed to sell Gulf Union to International Business
Holdings - a 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 Qureshi's direction, had shunted more than $5
million from First Cayman 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 (1899–1992) was a politician and
industrialist 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 Province in Pakistan. Because of his contribution to Pakistan's Industrial
development he is sometimes described as "The Goliath who Industrialized
Pakistan., today his family own Cherat Cement Company Ltd. Cherat Papersack Ltd.
Cherat Electric Ltd. Mirpurkhas Sugar Mills Ltd. Faruque (pvt) Ltd Greaves
Air-Conditioning(pvt) Ltd Greaves 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
Ranking: 16 (tied at 16) Worth: £230m ($460) Industry: Businessman
Shahid Luqman, born in Gujrat, is a financier from Manchester and has founded
'Pearl Holdings' for the property finance market He is a prominent property
developer in the UK 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 huge unpaid loans.
23 - Mukhtar Ahmed Pakistan
Ranking: 16 (tied at 16) Worth: £230m ($460) Industry: Businessman
Late Haji Sheikh Mohammad Ibrahim, founder of the Ibrahim Group, settled in
Faisalabad after partition of India in 1947 and re-established his ancestral
business of cloth trading by the name of "Ibrahim Agencies". What is known in
business today as Ibrahim Group with diversified business interests from
Spinning to PSF, Financial Institutions to Banking and Energy, started off as a
mere cloth trading agency just half a century ago. Recently Mr Ahmed bought a
stake in the Allied Bank at $300m.
24 - Aqeel Karim Dhedi Pakistan
Ranking: 16 (tied at 16) Worth: £230m ($460) Industry: Businessman
Starting from interests in real estate and stock-broking in the year 1947, the
late Haji Abdul Karim Dhedhi (may he rest in peace) laid the foundation of what
today is the AKD group of companies, one of the largest domestic business
enterprises in Pakistan with a combined net worth of over US$ 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 the AKD Group. He has built the AKD Group
as a leading and vibrant set of business enterprises operating in key sectors of
Pakistan's economy, ranging from stocks and shares, media, textile, real estate
and Oil and Gas exlporation. Yet AKD is still on the move!
25 - Syed Family Pakistan
Ranking: 17 (tied at 17) Worth: £220m ($440) Industry: Businessman
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 the world's biggest names reflect our forward-looking strategy of
continuously improving customer value through improvements in productivity. 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 group's
contributions towards the cause of an independent Pakistan are unprecedented are
the only packaging facility in Pakistan offering a complete range of packaging
solutions including offset printed cartons, shipping containers and flexible
packaging materials to individuals and businesses world-wide. They employ over
4000 people.
26 - Saif Family Pakistan
Ranking: 17 (tied at 17) Worth: £220m ($440) Industry: Businessman
Is owned and operated by the sons of famous NWFP lady politician Begum Kalsum
Saifullah. Her eldest son Javid Saifullah heads this 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.
27 - Jehangir Elahi Pakistan
Ranking: 18 (tied at 18) Worth: £200m ($400) Industry: Businessman
Jehangir Elahi is brother in law of Mian Mohammad Mansha and is ranked among the
tycoons in Pakistan. He has launched several projects as joint ventures with
Mian Mohammad Mansha, as for example Genertech, one of the earliest private
sector power plants conceived in Pakistan. Independently his group has four
companies listed on the stock exchange.
28 - Sherazi Family Pakistan
Ranking: 18 (tied at 18) Worth: £200m ($400) Industry: Businessman
This group was founded by Yousaf Sherazi, a former Income Tax official and
journalist in 1962 with a capital of Rs 03 million only. The first company set
by the Atlas Group was Sherazi Investments (Pvt) Limited and since then, there
is no looking back. The East Pakistan tragedy, however, nearly crippled Sherazi
but he never lost hope and went out forming numerous joint ventures with leading
Japanese concerns like Honda. Atlas-Honda today is a name to reckon with in
country's engineering sector and associated with this just one name are hundreds
of vendors. He holds stakes in insurance, financial services, information
technology, leasing, warehouses, office equipment, motor cars and
motorcycle-assembling units, besides running a renowned firm that manufactures
batteries. Sherazi owns the Atlas Investment Bank too. The Federal Budget
2004-05 is perhaps the only budget in country's history that has hit the very
influential car manufacturers on the head, otherwise people like Yousaf Sherazi
have always managed to dictate terms where it matters. The Atlas Group owns no
less than seven companies quoted on the stock exchanges of Pakistan. The group's
assets are believed to have touched the 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
in an old historical village in Khushab district. The Tiwana caste is a very
popular landholding and influential political caste in the Khushab district. The
Noon Family own 27 villages in Bhalwal and Bhera. The fields of these villages
are very cultivated and fertile. The Landlord Noon family created many bankers,
industrialists, ambassadors and politicians for Pakistan. The Noon family is
very popular in the area because of their character , their attitude,their
behaviour with the people and helps the poor and needy people 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 total
ranging 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
Ranking: 19 Worth: £190m ($380m) Industry: Businessman
One of the largest manufacturers and exporters of textile products in Pakistan,
Sapphire technology comes from Europe, Japan and USA. Capitalizing on the
region's principal crop, cotton, we source this locally, and augment our
offerings by providing imported fiber from the world's best crops. We work with
specialized fibers bringing in the newest innovations from major fiber and
chemical producers, and our manufacturing from yarn to finished fabric is
performed in our facilities in Pakistan. Synergies are formed with offshore
garment manufacturing companies. Our products are marketed to the industry's
biggest 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
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. 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.
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 of business development involved in almost all avenues of Nation building
activities i.e. Energy, Communications, Minerals, Construction, Geophysical
survey, Security and many other ventures. Shahzad Group has , by itself, and in
some cases in collaboration with foreign and local partners, who are the leading
brand names in the world, identified, initiated, supervised and successfully
completed major business ventures. Shahzad Group prides itself for its
accomplishments during almost three decades of business activity. The Group has
actively participated in enhancing Pakistan's international competitiveness and
social development, and for promotion of foreign and domestic investment in
business ventures. 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 in various other metropolises all over the world. Shahzad International
Group of Companies,Oil and Gas,Gold and Minerals Mining,Geological
surveys,Defence supplies,Travel and Tour Operators,Flash security services and
Trading Worldwide.
32 - Nazir Family Pakistan
Ranking: 20 (tied at 20) Worth: £170m ($340m) Industry: Businessman
One of Faislalabads most prominent families is the Haji Nair family. Owning
Masoos textiles, Mahmood Textiles, Asim Textiles and power generation plants.
Son of Mr Nazir Shahid Nazir is also a prominent politician.
33 - Abdul Bhati UK
Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman
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 a stake worth £140m as well as other assets.
34 - Adalat Chaudhary UK
Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman
Director of the London-based Bestway cash-and-carry business established by Sir
Anwar Pervez.
35 - Younis Sheikh UK
Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman
Bestway director Sheikh, 70, London cash-and-carry business Bestway continues to
thrive.
36 - Chaudrey Zameer UK
Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman
Finance director of the London-based Bestway cash-and-carry business started in
1976 by Anwar Pervez . In 2004 Pervez stepped down as managing director,
Choudrey took over. 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 Buybest supermarket chain in UK
37 - Zafar Iqbal Khwaja Pakistan
Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman
Zafar Iqbal Khawaja (born January 3rd, 1952) is a prominent Pakistani
businessman who owns a number of companies around the world. He is better known
in Pakistan as the "Prince of Sargodha". Also referred to as the "Shaheen of
Sargodha" (The Eagle of Sargodha). Zafar Iqbal Khawaja, is the son of a
significant military commando Muhammed Sadiq Khawaja, who worked with Muhammed
Ali Jinnah (The Founder of Pakistan) 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 Inter Equipment. It's Head Quarters are
located at the Jebal Ali Free Zone, Dubai which is a recognized commercial
capital of the Middle-East. In Mr.Khawaja's business circle, he is known for his
commitment to honest work and his ethical manner of business. Within 15 years,
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 major success.
38 - Shahid Hussain Pakistan
Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman
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 Pakistan's
leading footwear brands including DON CARLOS, CHEETAH, SKOOZ, TOZ and LIZA and
has distribution agreements with CATERPILLAR and NIKE. As part of our growth
strategy, we have expanded our businesses to include Service Communications,
Shoe Planet (Pvt.) Limited and Soul Collections.
39 - Younis Brothers Pakistan
Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman
Yunus Brothers is actively involved in international trading of various products
including Cotton & Blended Yarn, Cotton & Blended Fabrics, Garments, Rice,
Sugar, Fertilizer, Earth moving equipments, Chemicals, Spare Parts and
Automotive Vehicles etc. Yunus Brothers is one of the largest export houses of
the Pakistan exporting mainly to the European, US, Far Eastern, Middle Eastern
and African markets. Yunus Brother's annual sales turnover exceeds USD 300/-
million with 95% of the sales geared towards the export markets.
40 - Ghani Family Pakistan
Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman
Abdul Ghani Dada Bhoy was the founder of Dada Bhoy group, starting in trade and
branching off into the construction business. The group has a big share of
cement market in Southern Pakistan. Like other Memon groups, Dad Bhoys are
closely linked through intermarriages with other leading families like Jaffer
and Bawany. Abdul Ghani Dada Bhoy had five sons and two daughters, namely Noor
Mohammad Dada Bhoy, Mohammad Farooq Dada Bhoy, Mohammad Hussain Dada Bhoy,
Abdullah Hussain Dada Bhoy and Ghulam Mohammad Dada Bhoy. Daughters are Mrs
Mehrunisa Jaffer and Mrs Zaibunisa Tanveer .
41 - Saddiq & Sons Pakistan
Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman
This group made the bulk of its fortune during the chief ministership and
premiership of Nawaz Sharif when the group was sold Pasrur Sugar Mills for a
token price of Rs one and its Chairman, Mohammad Saleem was appointed managing
director of National Development Leasing Corporation (NDLC) replacing Rafiq
Habib. Today the have invested huge amounts in prime properties around Pakistan.
42 - Afzal Kushi UK
Ranking: 23 (tied at 23) Worth: £120m ($240m) Industry: Businessman
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 £90m Glasgow sportswear firm a global business. They also have £30 other
assets.
43 - Ghulam Hassan Khan Pakistan
Ranking: 23 (tied at 23) Worth: £120m ($240m) Industry: Businessman
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 SK Group's beliefs and convictions from its earliest days,
continue to guide and drive the business decisions of SK companies. The SK Group
and its enterprises have been steadfast and distinctive in their adherence to
business ethics and their commitment to corporate social responsibility. This is
a legacy that has earned the SK Group the trust of many thousand of stakeholders
The SK Group comprises of six operating companies in following business
segments: Information technology, Real estate, Developer and Builders, Media,
Welfare, Import and exports and CNG stations. The SK Group was founded by Sardar
Gulam Hassan Khan Niazi in the mid 1980's. Sardar Khan Niazi and those who
followed him aligned business opportunities with the objective of nation
building. This approach remains enshrined in the SK Group's ethos to this day.
Rose Shopping Mall
Companies 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
Ranking: 24 Worth: £100m ($200m) Industry: Businessman
Kasim 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. Had his assets not been nationalised by Bhutto he
would definitely had the status many richest men in the world enjoy today.