Short-listing Pakistan's most influential business magnates & 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 65 years and then we have had those seasonal species that manoeuvred 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 & around the world, have earned consistently, have been setting up units at regular intervals or have been legends in stocks, currency or real estate business.
The list excludes many names that have previously qualified and all of Pakistan's most prominent feudal land lords, who would definitely make it to the top 10, expect the few land owners which have declared their assets and work force and registered with the CBR Islamabad.
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.Latif of BECO- the Steel Man of Pakistan- who did make a lot of name once, but then got gifted with contentment somehow, although the late business wizard got very badly hit by Bhutto's nationalization of 1970 which had inflicted an astounding thud to everybody in business then. Had it not been the case, many of our tycoons may well have managed to gain the kind of status greeting the likes of Birlas and Tatas in India today, if not the one saluting Bill Gates or Warren Buffet. Among these gifted individuals, you will find politicians-turned-businessmen, businessmen-turned-politicians or even the businessmen-cum-politicians. With malice towards none and with no intention to decorate somebody, we thus take the pride of announcing these names. We hope this document will go a long 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, and business leaders of virtue and senior bureaucrats at the Central Board of Revenue.
Following is the list of the top richest families in Pakistan and overseas Pakistanis at the moment. It is an interesting read and does seem like that if not 100%, then it must 80% correct. Many families such as ARY and Giga gave the government of Pakistan huge interest free loans when it was on the brink of default after the sanctions imposed due to the nuclear tests almost crippled Pakistan.
The Nishat Group Mian Muhammad Mansha Yaha Pakistan / UAE / UK
Worth: £2.5billion, Industry: Banking, Textile, Hospitality, & Investments
Mian Muhammad Mansha (above) is a prominent industrialist and entrepreneur who is officially the richest man in Pakistan.
Born in Rawalpindi to a wealthy Chiniot family, his privileged upbringing allowed him to enjoy an early business education at an elite university. He formally joined the family business after completing his studies in London.
Mr Mansha has catapulted to the top of Pakistan's richest families from the 15th position in 1970 and 6th in 1990 because of combination of factors such as his marriage to Naz, who is part of Saigol dynasty. Like several other Chinioti businessmen, Mansha had worked in a leather business in Calcutta (India) before moving to Pakistan in 1947. It was in Calcutta that Mansha developed a rapport with Naz Saigol which led to their marriage in 1970.
Mian Muhammad Mansha has a preference for only the finest tailors made clothing from London. He is often seen donning handmade suits from Savile Row. When visiting London his other favourite boutiques include Gucci, Chanel and Harrods.
Mian Mansha's conglomerate greatly benefited from the privatization drive of the 1990s. Through this period, he made a number of acquisitions and buy-outs, including engineering at least one hostile takeover. When the dust settled, Mansha had acquired a controlling position in Adamjee Group, the country's largest non-life insurer, and D.G. Khan Cement, previously owned by the Saigol family. While going through these large acquisitions, he was simultaneously expanding his Nishat Textiles segment, Nishat Textiles is Pakistan's largest fabric mill.
But all these achievements, perhaps, play third fiddle to Mansha's master-stroke: the acquisition of one of Pakistan's most profitable banks, MCB Bank Limited. Competing with several other bidders in a privatization process, there were several challenges to overcome, but ultimately he persevered. Under Mian Mansha's watch, MCB has demonstrated flawless execution, admirable growth and has built one of the premier financial services management teams in the country.
Mansha has proceeded to venture into new terrain, executing deals with state-owned WAPDA (Water and Power Distribution Authority) to sell excess power capacity installed at Nishat's various facilities. This led to the founding of Nishat Power, which is now going from strength to strength his son Qasim Mansha also laying important part in his decisions.
MCB has also recently started a partnership with Maybank of Malaysia. Maybank now has a 25% share in MCB.
The general perception is that MCB was privatized to Mansha and his associates because of his friendship with Nawaz Sharif. However, Mian Mansha feels that, investing in the shares of Muslim Commercial Bank (MCB) has been one of his biggest business slip ups. The privatization of MCB remains a mystery, till to date. Nawaz Sharif came into power on November 6, 1990, invited bids for the privatization of Muslim Commercial Bank (MCB) on 15 December 1990 and announced its privatization to successful bidder: Messrs Abdullah and others on 9 January 1991.
The stories from the past suggest that five bids were received for Muslim Commercial Bank with ‘Tawakkals’ and ‘Adamjee’, being the highest and second highest bidders. Adamjee who formed a joint venture with Yunus Brothers, perhaps the biggest Export Houses in Pakistan, had incorporated Muslim Commercial Bank in 1949. As previous owner, they had the first right of purchase but, third lowest bid by Messers Abdullah and others, a consortium comprising of 12 leading industrialists, mostly from the Punjab. Mian Muhammad Mansha was asked to match the highest bid and was declared the winner. The consortium which called itself the National Group consisted of many industrial groups and families.
With $700 million in cash from MCB and another $300 million raised from international markets, Mansha has aspirations of acquiring an established bank in Indonesia and possibly even in the Middle East. MCB Bank already has international operations, and the Mansha group also owns an automobile leasing company in Kazakhstan. Further plans include major infrastructure projects in Pakistan, such as the construction of power plants and sea ports.
Mian Mansha is the captain of this splendid ship having around 40 companies on board. Mansha, who owns the Muslim Commercial Bank as well, is now setting up a billion rupee ($ 17 m) paper sack project too. He is one of the richest Pakistanis around. Nishat Group was country’s 15th richest family in 1970, 6th in 1990 and Number 1 in 1997. Mansha is on the board of nearly 50 companies. Chiniotiby clan, Mansha is married to Yousaf Saigol’s daughter. He is deemed to have made investments in many bourses, currency and metal exchanges both within and outside Pakistan. He has had his share of luck on many occasions in life and has also 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.
Pakistan's first billionaire. Born during the tumultuous Partition winter of 1947, when his parents were among those Muslim families making the trek from India to Pakistan. His father and uncles jumped into textiles with Nishat Mills in 1951. Mian went to college in the U.K.; joined family business after graduation. Father died one year after his return. Eventually split with uncles and took over his family's business in West Pakistan decades ago. (The East Pakistan division later went bankrupt). His Nishat Group is now Pakistan's largest exporter of cotton clothes (for brands like Gap) and nation's largest private employer; also invests in power projects, cement and insurance. Smart bet in banking: Won a controversial bid for Muslim Commercial Bank during the country's privatization push in 1991. Sold more than half of his MCB shares for $900 million May 2008. 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". There is no stopping Mansha and he is still on the move.
In 2004, Mansha's group and his preferred candidate were defeated by a margin of two votes in the All Pakistan Textile Mills Association (APTMA). Mansha subsequently resigned from APTMA.
According to his first interview to a foreign magazine, Mian Mansha stated that, "my net worth is about $4-5 billion." Indeed, there have been claims by many circles in Pakistan that the closely held group has a total capitalisation of nearly US$10 Billion (Rs. 800 billion). However, due to a mix of private and public companies in the group, it is not possible to accurately arrive at a definitive capitalization of sea ports. D.G. Khan Cement, which is part of Mansha's Nishat group, was once the target of violence by local people living near the factory. The issue was eventually resolved by discussions and increased security around the plant.
Malik Riaz Hussain Pakistan
Worth: £2 billion , Industry: Property developer, Malls, Hotel
Malik Riaz Hussein (picture on right) heads the massive project which is currently developing state-of-the-art schemes in Lahore and Rawalpindi/Islamabad. He is the chairman of Bahria Town, a US$6 billion (Dh22bn) urban development enterprise that has built gated communities for a million people in the central cities of Lahore and Rawalpindi. In an interview, with cnn channel he declared his assets more than 2 billion US dollars.
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. 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. Its housing projects, unrivalled in Pakistan as models of highly desirable but affordable suburban living, have evolutionized Pakistan’s real-estate sector over the last decade by targeting the previously untapped middle class, rather than the rich. Reproductions of famous landmarks, such as London’s Trafalgar Square, the Eiffel Tower and the Statue of Liberty, point to his aspirations for Pakistan, while beautiful mosques and Quranic calligraphy suggest that modernity is in harmony with Muslim beliefs. He also owns a TV channel whose headquarter is in Bangkok Thailand.
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. 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.
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. The huge popularity of the Bahria Town brand has made Mr Hussain, at the age of 62, one of a handful of Pakistanis believed to be billionaires in US dollar terms, although this cannot be verified as he has never released his tax records. He has responded to the misery of millions of his flood-stricken compatriots by pledging to spend 75 per cent of his fortune on rebuilding their lives.
He has built a state of the art hotel and golf resort. The adjacent Sheraton Hotel is a 372-room luxury palace with serviced villas and unprecedented amenities. Including a state-of-the-art business centre, choice of themed restaurants and bars, an advanced health club, fully serviced spa and beautifully designed outdoor swimming pools. Guests can also enjoy a challenging round of 18 holes at the onsite graceful golf course and unwind later at the Sheraton Golf &Country Club.
He had recently signed a multi-billion dollar deal with Abu Dhabi Group worth US$45 billion dollars but it was scrapped due to pressure from a certain politician from Rawalpindi most probably opposition leader in previous government from Pakistan Muslim League Nawaz , Ch. Nisar. But, he has signed another deal worth US$20billion dollars with an American invester Thomas Kramer to develop two islands on Karachi's coastal area.
He has been made controversial by Pakistan's supreme court judge due to a case in which Arsalan Iftikhar who is a son of a Chief Justice of Pakistan Ch. Iftikhar, was accused of taking bribes in the form of foreign trips and gifted luxury cars so he can inflience his father to get rid of cases against Malik Riaz.
Sharif family Pakistan / UK / Middle East / Turkey
Worth: £1.5 billion, Industry: Politics (corruption), Sugar, Textile & Steel Mills, Construstion, Property Developers & Malls
Mian Muhammad Sharif was prominent Pakistani industrialist. Mr Sharif, Businessman turned politician, is the father of former Prime Minister of Pakistan. Sharif was born Mian Muhammad Sharif in Amritsar (Now in India). His family is traced to Shopian in the Kashmir valley. In 1947, after Pakistan's independence, Sharif immigrated to Pakistan.
Muhammad Sharif was involved in politics through his sons, Nawaz Sharif(above on the left), who was Prime Minister and Shahbaz Sharif(above on the right), who was Chief Minister of Punjab province of Pakistan. He insisted on many policies that were followed by his sons. His son Nawaz Sharif 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 Prime Minister of Pakistan, 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. In his tenure, as the Prime Minister of Pakistan, the first motorway and many new roads were built and took heavy kickbacks in many deals. He is one of the most popular leaders of Pakistan. He had destroy Pakistan's ship breaking industry in is tenure as a Prime Minister of Pakistan by importing tax free metal scrap from foreign countries. He was also involved in money laundering after Pakistan conducted its nuclear tests. He also started a bogus scheme called Karz Utaro Mulk Sawaro (Pay back the loans for the prosperity of the country) in which he had pocketed millions of dollars given to his administration by overseas Pakistanis. They are the biggest tax evaders & bank defaulters of Pakistan.
Raymond Baker in his book Capitalism’s Achilles has given example of Nawaz Sharif & Benazir Bhutto for a modern capitalism and said : " Corruption and criminality run from the top down, with the political class constantly looting the national treasury and distorting economic policy for personal gain. Bank loans are granted largely on the basis of status and connections. The rich stash much of their money abroad in those willing western coffers, while exhibiting little inclination to repay their rupee borrowings. Pakistan’s recent history has been dominated by two families—the Bhuttos and the Sharifs—both merely tolerated by the military, the real power in the country. When it comes to economic destruction, there’s not a lot of difference among the three." Further he explains in detail about Nawaz Sharif corruption on Pages 82-85 " While Benazir Bhutto hated the generals for executing her father, Nawaz Sharif early on figured out that they held the real power in Pakistan. His father had established a foundry in 1939 and, together with six brothers, had struggled for years only to see their business nationalized by Ali Bhutto’s regime in 1972. This sealed decades of enmity between the Bhuttos and the Sharifs. Following the military coup and General Zia’s assumption of power, the business—Ittefaq—was returned to family hands in 1980. Nawaz Sharif became a director and cultivated relations with senior military officers. This led to his appointment as finance minister of Punjab and then election as chief minister of this most populous province in 1985. During the 1980s and early 1990s, given Sharif ’s political control of Punjab and eventual prime ministership of the country, Ittefaq Industries grew from its original single foundry into 30 businesses producing steel, sugar, paper, and textiles, with combined revenues of $400 million, making it one of the biggest private conglomerates in the nation. As in many other countries, when you control the political realm, you can get anything you want in the economic realm.
With Lahore, the capital of Punjab, serving as the seat of the family’s power, one of the first things Sharif did upon becoming prime minister in 1990 was build his long-dreamed-of superhighway from there to the capital, Islamabad. Estimated to cost 8.5 billion rupees, the project went through two biddings. Daewoo of Korea, strengthening its proposals with midnight meetings, was the highest bidder both times, so obviously it won the contract and delivered the job at well over 20 billion rupees.
A new highway needs new cars. Sharif authorized importation of 50,000 vehicles duty free, reportedly costing the government $700 million in lost customs duties. Banks were forced to make loans for vehicle purchases to would-be taxi cab drivers upon receipt of a 10 percent deposit. Borrowers got their “Nawaz Sharif cabs,” and some 60 percent of them promptly defaulted. This left the banks with $500 million or so in unpaid loans. Vehicle dealers reportedly made a killing and expressed their appreciation in expected ways. Under Sharif, unpaid bank loans and massive tax evasion remained the favorite ways to get rich. Upon his loss of power the usurping government published a list of 322 of the largest loan defaulters, representing almost $3 billion out of $4 billion owed to banks. Sharif and his family were tagged for $60 million. The Ittefaq Group went bankrupt in 1993 when Sharif lost his premiership the first time. By then only three units in the group were operational, and loan defaults of the remaining companies totaled some 5.7 billion rupees, more than $100 million.
Like Bhutto, offshore companies have been linked to Sharif, three in the British Virgin Islands by the names of Nescoll, Nielson, and Shamrock and another in the Channel Islands known as Chandron Jersey Pvt. Ltd. Some of these entities allegedly were used to facilitate purchase of four rather grand flats on Park Lane in London, at various times occupied by Sharif family members. Reportedly, payment transfers were made to Banque Paribas en Suisse, which then instructed Sharif ’s offshore companies Nescoll and Nielson to purchase the four luxury suites.
In her second term, Benazir Bhutto had Pakistan’s Federal Investigating Agency begin a probe into the financial affairs of Nawaz Sharif and his family. The probe was headed by Rehman Malik, deputy director general of the agency. Malik had fortified his reputation earlier by aiding in the arrest of Ramzi Yousef, mastermind of the 1993 World Trade Center bombing. During Sharif ’s second term, the draft report of the investigation was suppressed, Malik was jailed for a year, and later reportedly survived an assassination attempt, after which he fled to London. The Malik report, five years in the making, was released in 1998, with explosive revelations:
The records, including government documents, signed affidavits from Pakistani officials, bank files and property records, detail deals that Mr. Malik says benefited Mr. Sharif, his family and his political associates:
• At least $160 million pocketed from a contract to build a highway from Lahore, his home town, to Islamabad, the nation’s capital.
• At least $140 million in unsecured loans from Pakistan’s state banks.
• More than $60 million generated from government rebates on sugar exported by mills controlled by Mr. Sharif and his business associates.
• At least $58 million skimmed from inflated prices paid for imported wheat from the United States and Canada. In the wheat deal, Mr. Sharif ’s government paid prices far above market value to a private company owned by a close associate of his in Washington, the records show. Falsely inflated invoices for the wheat generated tens of millions of dollars in cash.
The report went on to state that “The extent and magnitude of this corruption is so staggering that it has put the very integrity of the country at stake.” In an interview, Malik added: “No other leader of Pakistan has taken that much money from the banks. There is no rule of law in Pakistan. It doesn’t exist.”
What brought Sharif down in his second term was his attempt to acquire virtually dictatorial powers. In 1997 he rammed a bill through his compliant parliament requiring legislators to vote as their party leaders directed. In 1998 he introduced a bill to impose Sharia law (Muslim religious law) across Pakistan, with himself empowered to issue unilateral directives in the name of Islam. In 1999 he sought to sideline the army by replacing Chief of Staff Pervez Musharraf with a more pliable crony. He forgot the lessons he had learned in the 1980s: The army controls Pakistan and politicians are a nuisance. As Musharraf was returning from Sri Lanka, Sharif tried to sack him in midair and deny the Pakistan International Airways flight with 200 civilians on board landing rights in Karachi. Musharraf radioed from the aircraft through Dubai to his commander in Karachi, ordering him to seize the airport control tower, accomplished as the plane descended almost out of fuel. Musharraf turned the tables and completed his coup, and Sharif was jailed.
But Sharif had little to fear. This, after all, is Pakistan. Musharraf needed to consolidate his power with the generals, and Sharif knew details about the corruption of most of the brass. Obviously, it is better to tread lightly around the edges of your peer group’s own thievery. So Musharraf had Sharif probed, tried, convicted, and sentenced to life in prison, but then in 2000 exiled him to Saudi Arabia. Twenty-two containers of carpets and furniture followed, and, of course, his foreign accounts remained mostly intact. Ensconced in a glittering palace in Jeddah, he is described as looking “corpulent” amidst “opulent” surroundings. Reportedly, he and Benazir Bhutto even have an occasional telephone conversation, perhaps together lamenting how unfair life has become."
He was deported from Pakistan after a bloodless coup. Nawaz sharif and his family went to Kingdom of Saudia Arabia where he lived and started a busniess there. He has shares in a company called Al Saif Company which is heavily involved in construction business throughout the Middle East. He has established a steel mill in Saudia Arabia. There are rumours that Sharif family has shares in Panorama Mall in Saudia Arabia & in many other malls around Middle East.
His sons Hassan Nawaz is a well known real estate tycoon in United Kingdom. He has very expensive properties in London & his other brother Hussain Nawaz Sharif manages a company in Saudia Arabia under the name of Hills Metals(Hill Metals Est., M E S T E E L).
The wealth of both, Hassan and Hussain Sharif, has been included in Sharif Family wealth. But their exact worth is unknown as they are master in scams & hiding their wealth from poor people of Pakistan.
The Sharifs own property worth more than 20 million pounds (Rs 2.7 billion) in and around Central London, Daily Times has learnt. Of these, the Sharif family residence, three flats at 17 Avenfield House, 118 Park Lane alone are worth around 12 million pounds (Rs 1.6 billion).
According to documents available to Daily Times, Flagship Investments Limited, one of the companies run by the Sharif family in London, owns property worth around 10 million pounds in Central London. This does not include the value of the company’s offices. Hasan Nawaz Sharif, the son of PML-N chief Nawaz Sharif, is listed as the director of company on official documents.
Luxury residences: According to its website Flagship Investments, the company refurbishes and redevelops luxury residential properties in top end Central London locations. Sought after properties in Mayfair, Knightsbridge, Kensington and Bayswater are their primary focus.
The company’s address listed on the website is Stanhope House, Stanhope Place, Marble Arch – one of the city’s priciest neighbourhoods. However, according to documents seen by Daily Times, the company moved to Tower Bridge House on St Katherine’s Way in November 2007 – a much more upscale property located near the bank of the River Thames.
Properties: The company’s website lists several properties, which include Flat 8, Burwood Place – London W2, worth 700,000 pounds (Rs 96.6 million); Flat 9, Burwood Place – London W2, worth 900,000 pounds (Rs 124.2 million); 10 Duke Mansions, Duke Street, London W1, worth 1,495,000 pounds (Rs 206.31 million); Flat 12a, 118 Park Lane, Mayfair – London SW1, worth 475,000 pounds (Rs 65.55 million); Flat 2, 36 Green Street – London W1, worth 800,000 pounds (Rs 110.4 million); and, 117 Gloucester Place, London W1 (value not listed). The website also features a piece of real estate near the Buckingham Palace, which is valued at around 4,450,000 pounds. In addition, one of the properties listed on the website – 841 Neil Gwynne House, Slone Avenue – is said to be the residence of one Waqar Ahmed, listed on the documents as the Company Secretary of Flagship Investments Limited etc.
Their industrial assets in Pakistan include Brother Steel Mills, Ilyas Enterprises, Hudaybia Paper Mill, Hudaybia Engineering Company, Hamza Spinning Mills, Mehran Ramzan Textile Mills Ltd, Muhammad Baksh Textile Mills, Hamza Board Mills, Kulsoom Textile Mills, Ittefaq Brothers (Pvt) Ltd, Ittefaq Sugar Mills, Khalid Siraj Textile Industries, Ramzan Baksh Textile Mills, Ittefaq Textile Mills, Brothers Textile Mills, Ittefaq Foundries, Barkat Textile Mills, Abdul Aziz Textile Mills, Brothers Sugar Mills, Effective (Pvt) Ltd, Chaudhry Sugar Mills, Ramzan Sugar Mills Ltd, Abdullah Sugar Mills, Channar Sugar Mills, Haseeb Waqas Sugar Mills, Kashmir Sugar Mills, and Yousaf Sugar Mills.
Their residential property including the Model Town bungalow, three houses at Mall Road Murree, property at 135 Upper Mall Lahore, a plot at Model Town Lahore, a plot at Upper Mall, Lahore, the farm house at Jatti Umra Raiwand
Their agricultural property including 10.2 kanals of land at Khanpur Sheikhupura Road Lahore, 41 acres and 7 kanals of land at Sheikhupura, 14.2 kanals of land and another 35 kanals at Bhaipharu in Chunnian and 88 kanals of land at Raiwind.
They also built The Sharif Medical City and Educational Complex as a welfare institution but according to the TV reports, during 2011 dengue crisis, the doctors charged heavy fees for the medical treatment of the patients who were struck by dengue fever. In recent scam which Sharif brothers have done is that they ordered all the barricades for the mega project known as Rapid Transit Bus from their own steel mill without giving tenders & not only that but they have taken heavy kickbacks again in many projects in Punjab.
The son of Ex Chief Minister of Punjab Pakistan Hamza Shahbaz is known as poultry king in Pakistan. He was involved in a scandal with a woman known as Aysha Ahad Malik. Shabaz Sharif's daughter & son in law Imran was also implicated in a bakery assault case. Imran is also a biggest land grabbing Mafia head in Lahore along his cousins Salman Zia Butt.
Shahid Khan USA / Pakistan
Worth: £1.45billion, Industry: Businessman
He (born c. 1950) is an Urbana, Illinois owner of the automobile parts manufacturer Flex-N-Gate Corp. who in February 2010 was reported to have made an agreement to acquire 60 percent ownership of the St. Louis Rams, an American football team. But, later he bought 100% ownership of New Jacksonville Jaguars.
Khan was born in Lahore, Pakistan and moved to the United States when he was 16. He graduated from the University of Illinois School of Mechanical and Industrial Engineering with a BS in 1971.
While attending the University of Illinois he worked at Flex –N-Gate. When he graduated he became the engineering director for the company. In 1978, he started Bumper Works which made car bumpers for customizing pickup trucks and body shop repairs. The transaction involved a $50,000 from the Small Business Loan Corporation and $16,000 in his savings.
In 1980 he bought his former employer Flex-N-Gate bringing Bumper Works into the fold. Khan grew the company so that it supplied bumpers for the Big Three automakers. In 1984 he began supplying a small number of bumpers for Toyota pickups. By 1987 it was the sole supplier for Toyota pickups and by 1989 it was the sole supplier for the entire Toyota line in the United States. Toyota Sensei instruction drastically transformed the company efficiency and ability to change its manufacturing process within a few minutes. Since then the company has grown $17 million in sales to an estimated $2 billion in 2010.
Flex-N-Gate employs over 9,500 people at 48 manufacturing and 9 product development and engineering facilities throughout Canada, the United States, Mexico, Argentina, and Spain. Flex-N-Gate’s products include: large body and chassis structural assemblies; full bumper and fascia systems, brackets, receiver hitches; interior plastic panels and pillars; exterior trim components, running board systems; scissor and screw jacks, tools, spare tire hoists, hinges, checks, pedals, parking brakes, and latch systems.
Khan has received a number of awards from the University of Illinois, incluuding a Distinguished Alumnus Award in 1999 from the Department of Mechanical Science and Industrial Engineering, the Alumni Award for Distinguished Service in 2006 from the College of Engineering, and (with his wife, Ann) the Distinguished Service Award in 2005 from the University of Illinois Alumni Association.
Asif Ali Zardari Pakistan
Worth: £ 1.2billion, Industry: Politics
Asif Ali Zardari (picture on right) born 26 July 1955) was 11th President of Pakistan and the Co-Chairman of the Pakistan People’s Party (PPP). Zardari is the widower of Benazir Bhutto, who twice served as Prime Minister of Pakistan. When his wife was assassinated in December 2007, he became the leader of the PPP. Asif Ali Zardari is a Sindhi of Baloch origin from Sindh. He was born in Karachi and is the son of Hakim Ali Zardari, head of one of the balochi tribes, who chose urban life over rustic surroundings. His mother is from the family of Khan Bahadur Hassan Ali, who was among the founders of the first educational institution in Sindh, "Sindh Madarsa-tul-Islam Karachi".
Asif Zardari dubbed "Mr 10%" an unknown happy-go-lucky son of a small-time businessman who struck gold by marrying one of the world’s 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 bought a castle in France. 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. He has a huge business ventures in the Middle East, especially in Dubai, running into hundreds of millions if not billion mark. He has investments in construction and transportation business in Dubai. 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.
ZARDARI’S ASSETS in Pakistan:
1. Plot no. 121, Phase VIII, DHA Karachi.
2. Agricultural land situated in Deh Dali Wadi, Taluka, Tando Allah Yar.
3. Agricultural property located in Deh Tahooki Taluka, District Hyderabad measuring 65.15 acres.
4. Agricultural land falling in Deh 76-Nusrat, Taluka, District Nawabshah measuring 827.14 acres
5. Agricultural land situated in Deh 76-Nusrat, Taluka, District Nawabshah measuring 293.18 acres
6. Residential plot No 3 (Now House) Block No B-I, City Survey No 2268 Ward-A Nawabshah
7. Huma Heights (Asif Apartments) 133, Depot Lines, Commissariat Road, Karachi
8. Trade Tower Building 3/CL/V Abdullah Haroon Road, Karachi
9. House No 8, St 9, F-8/2, Islamabad
10. Agricultural land in Deh 42 Dad Taluka/ District Nawabshah
11. Agricultural land in Deh 51 Dad Taluka Distt Nawabshah
12. Plot No 3 & 4 Sikni (residential) Near Housing Society Ltd. Nawabshah
13. CafT Sheraz (C.S No.. 2231/2 & 2231/3) Nawabshah
14. Agricultural land in Deh 23-Deh Taluka & District Nawabshah
15. Agricultural property in Deh 72-A, Nusrat Taluka, Nawabshah
16. Agricultural land in Deh 76-Nusrat Taluka, Nawabshah
17. Plot No. A/136 Survey No 2346 Ward A Government Employee’s Cooperative Housing Society Ltd, Nawabshah
18. Agricultural land in Deh Jaryoon Taluka Tando Allah Yar, Distt. Hyderabad
19. Agricultural land in Deh Aroro Taluka Tando Allah Yar, Distt. Hyderabad
20. Agricultural land in Deh Nondani Taluka Tando Allah Yar, Distt. Hyderabad
21. Agricultural land in Deh Lotko Taluka Tando Allah Yar, Distt. Hyderabad
22. Agricultural land in Deh Jhol Taluka Tando Allah Yar, Distt. Hyderabad
23. Agricultural land in Deh Kandari Taluka Tando Allah Yar, Distt. Hyderabad
24. Agricultural land in Deh Deghi Taluka Tando Mohammad Khan
25. Agricultural land in Deh Rahooki Taluka, Hyderabad
26. Property in Deh Charo Taluka, Badin
27. Agricultural property in Deh Dali Wadi Taluka, Hyderabad
28. Five acres prime land allotted by DG KDA in 1995/96
29. 4,000 kanals on Simli Dam
30. 80 acres of land at Hawkes Bay
31. 13 acres of land at Maj Gulradi (KPT Land)
32. One acre plot, GCI, Clifton
33. One acre of land, State Life (International Center, Sadar)
34. FEBCs worth Rs. 4 million
FRONT COMPANIES IN FOREIGN COUNTRIES:
1. Bomer Fiannce Inc, British Virgin Islands
2. Mariston Securities Inc, British Virgin Islands
3. Marleton Business S A, British Virgin Islands
4. Capricorn Trading S A, British Virgin Islands
5. Fagarita Consulting INc, British Virgin Islands
6. Marvil Associated Inc, British Virgin Islands
7. Pawnbury Finance Ltd, British Virgin Islands
8. Oxton Trading Limited, British Virgin Islands
9. Brinslen Invest S A, British Virgin Islands
10. Chimitex Holding S A, British Virgin Islands
11. Elkins Holding S A, British Virgin Islands
12. Minister Invest Ltd, British Virgin Islands
13. Silvernut Investment Inc, British Virgin Islands
14. Tacolen Investment Ltd, British Virgin Islands
15. Marlcrdon Invest S A, British Virgin Islands
16. Dustan Trading Inc, British Virgin Islands
17. Reconstruction and Development Finance Inc, British Virgin Islands
18. Nassam Alexander Inc.
19. Westminster Securities Inc.
20. Laptworth Investment Inc 202, Saint Martin Drive, West Jacksonville
21. Intra Foods Inc. 3376, Lomrel Grove, Jacksonville, Florida
22. Dynatel Trading Co, Florida
23. A..S Realty Inc. Palm Beach Gardens Florida
24. Bon Voyage Travel Consultancy Inc, Florida
ZARDARI’S PROPERTIES IN UK ARE:
1. 355 acre Rockwood Estate, Surrey (Now stands admitted)
2. Flat 6, 11 Queensgate Terrace, London SW7
3. 26 Palace Mansions, Hammersmith Road, London W14
4. 27 Pont Street, London, SW1
5. 20 Wilton Crescent, London SW1
6. 23 Lord Chancellor Walk, Coombe Hill, Kingston, Surrey
7. The Mansion, Warren Lane, West Hampstead, London
8. A flat at Queensgate Terrace, London
9. Houses at Hammersmith Road, Wilton Crescent, Kingston and in Hampstead.
ZARDARI’S PROPERTIES IN BELGIUM ARE:
1. 12-3 Boulevard De-Nieuport, 1000, Brussels, (Building containing 4 shops and 2 large apartments)
2. Chausee De-Mons, 1670, Brussels
ZARDARI’S PROPERTIES IN FRANCE ARE:
1. La Manoir De La Reine Blanche and property in Cannes
ZARDARI’S PROPERTIES IN USA — in the name of Asif Zardari and managed by Shimmy Qureshi are:
1. Stud farm in Texas
2. Wellington Club East, West Palm Beach
3. 12165 West Forest Hills, Florida
4. Escue Farm 13,524 India Mound, West Palm Beach
5. 3,220 Santa Barbara Drive, Wellington Florida
6. 13,254 Polo Club Road, West Palm Beach Florida
7. 3,000 North Ocean Drive, Singer Islands, Florida
8. 525 South Flager Driver, West Palm Beach, Florida
9. Holiday Inn Houston Owned by Asif Ali Zardari, Iqbal Memon and Sadar-ud-Din Hashwani
The Best Way Group Sir Anwar Pervaiz UK / Pakistan
Worth: £1 billion , Industry: Cash & Carry, Real Estate, Manufacturing, Banking & Investments
Sir Anwar Pervaiz (picture on right) 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. He moved to England at the age of 21. He is the Deputy Chairman of United Bank Limited. He is the Chairman of the Board of Trustees of Bestway Foundation UK and the Patron-in-Chief of Bestway Foundation Pakistan. Sir Anwar is a Trustee of the Memorial Gates Trust, Crimestoppers and a supporter of UK Charity The Duke of Edinburgh's Award. Sir Anwar describes himself politically as a Thatcherite. He is an integral supporter and regular donor to the Conservative party. 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. Today they have in total around 50 Cash and Çarry, including their recent takeover of rival group Batleys for around £100m. The Bestway Group moved into the cement business in 1995 when it decided to set up cement manufacturing plant in Pakistan at a cost of $120 million. In 2002, the Bestway Group acquired a 25.5% stake in United Bank Limited. Today, the Bestway Group has a diversified portfolio, with interests in cash & carry wholesale, property investments, retail outlets, milling of rice, lentils and pulses, cement production and more recently into banking. The group's total sales amounted to in excess of £ 2 billion. The group provides direct employment to thousands in the UK and Pakistan. They have many interests in Pakistan too. Sir Anwar Pervaiz and 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!
The Hashoo Group Pakistan
Worth: £600million, Industry: Businessman
Led by the vintage Saddaruddin Hashwani(on the right), he is the Chairman of Hashoo Group. He is Ismaili Nizari Muslim (Aga Khani) by faith. Sadarduddin’sbrother Akbar and the children of another late brother Hassan Ali Hashwani together manage around 45 companies. Akbar runs the second Hashwani Group. He is one of the most well-known magnates in Pakistan who is a regular invitee at the Diplomatic Enclave. The list of local and international bigwigs known personally to Hashwani is unending. The Hashoo Group was established in 1960 by Saddaruddin Hashwani and is one of the larger conglomerates in Pakistan. The Hashoo Group initially operated as a trading enterprise. Today, ‘Hashoo Group’ is one of the most diversified industrial groups in Pakistan with interests across tourism, travel, real-estate development, pharmaceuticals, IT, insurance, batteries, tobacco, construction, engineering and Oil and Gas.
The Hashoo Group is more known for its dominance in Pakistan’s hospitality sector. It has in its fold, as owners and operators, The Pearl Continental Hotels and Marriott Hotels brands with presence in all major cities of Pakistan. They have developed new low cost budget hotels called The One and they have a franchise of a Dubai Based Jumeirah Group's restaurant called The Noodle House.
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. This group has excelled in export of rice, wheat, cotton and barley. It owns textile units, besides having invested billions in mines, minerals. It also owns Orient Petroleum International Inc., a prestigious Oil and Gas exploration and production company. 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.
The Servis Group Shahid Hussain Pakistan
Worth: £500million, Industry: Businessman
Servis Group is one of the most respected corporate citizens of the country and has a rich heritage spanning over half a century. The story of ‘Servis’ begins with a group of friends - young, energetic, fresh from college - who established Service Industries more than 50 years ago.
These young men, named Ch. Nazar Muhammad (Late ,left picture), Ch. Muhammad Hussain (Late, down picture) – both from Gujrat district – and Ch. Muhammad Saeed (Late) from Gujranwala District, started business in 1941 at a small scale in Lahore. At that time, they were only manufacturing handbags and some other sports goods. Within years their business flourished remarkably and they were supplying their products to every corner of India at the time of Partition.
In 1954, they installed a shoe manufacturing plant at industrial area Gulberg, Lahore. This started production in the same year. The industry started manufacturing various types of shoes. Later management shifted the factory from Lahore to Gujrat. Service Sales Corporation (Pvt.) Ltd. – the Group’s marketing company – was established in 1959. Humility, fairness, and respect were the values close to the heart of these founders and it were these values that led to phenomenal success of the Group over the years.
Shahid Hussain is the Chairman of this massive foot-wear giant which now is neck-deep in textile business too. Shahid has replaced Ch Ahmad Saeed (sitting PIA Chairman as the Servis boss). Both Chaudhary Ahmed Saeed and President General Musharraf happen to be old friends from their Forman Christian College days. Ch. Ahmad Saeed’s younger brother Chaudhary Ahmed Multhtar is a well-known Pakistan People’s 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-collar crime, these Servis guys remain relatively comfortable-courtesy their clout as a political-cum-business family. Starting its journey as a single retail footwear outlet, the brand today has a 400+ stores presence in Pakistan, 2000+ dealer-base 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. It is the largest manufacturer of tyres and tubes for two-wheelers, and has been the largest exporter of footwear from Pakistan for a decade. The Company employs more than 9,000 people in its facilities located in Gujrat and Muridke.
Servis Group has entered in the field of pharmaceuticalsthrough Servaid Pharmacy. Servaid Pharmacy was formed in 2005 as a commercial organization with a social imperative. Servaid envisaged a company with the objective of forming Pakistan’s first national chain of pharmacies providing 100% genuine medicine to its customers in a convenient and pleasant environment.
Servaid has already become the largest pharmacy chain in the country in less than four-year time. Currently, it is operating through 31 stores in five different cities providing services to more than 250,000 valued customers every month. Servaid employs more than 350 people.
Servis have been servicing customers internationally for more than 25 Years. The company’s products are exported primarily to Germany, Italy, France and United Kingdom. It is now moving towards retailing globally. Servis and its roots are grounded firmly in Pakistan and its people. A humble venture of friends has grown into a Group that makes a difference in lives of millions of people every day today.
Associated Group Iqbal Z. Ahmed US / Pakistan
Worth: £500million, Industry: Oil & Gas
Iqbal Zafaruddin Ahmed (b. February 3, 1946) or Iqbal Z. Ahmed (pictured above) is a leading businessman of Pakistan. Born in Patna, India, Ahmed is the son of Zohra (d. 1979) and Z. Z. Ahmed (1910-1989), a former Deputy Inspector General of Pakistan Police. He was schooled at Sadiq Public School, Bahawalpur, and Aitchison College, Lahore. He has a bachelor’s degree in economics from Government College, Lahore, and a master’s degree in economics from Punjab University, Lahore. In 1965, while he was still in college, he and his father started a business with $6,000, importing Lambretta scooters from Italy. This didn't do too well as Vespas were the fad.
Ahmed and his wife, Saira Ahmed, live in Lahore, Pakistan, with their four children: Attiq Uddin Ahmed (B Arch, National College of Arts, Lahore; MSc, Columbia University, New York), Fasih Uddin Ahmed (BA, Columbia University), Razi Uddin Ahmed (BA, University of Chicago; MA, Columbia University), and Sadia Ahmed (BA, Lahore University of Management Sciences).
He has two brothers, Qazi Shaukat Fareed and Qazi Humayun Fareed, and a sister, Talat "Manna" Nabi. His grandfather Maulvi Ziauddin Ahmed was the first Indian to serve as Deputy Inspector General of the Bombay Sind Presidency. Ahmed's paternal uncles included the Indian politician Zain-ul-Abideen Ahmed, filmmaker W. Z. Ahmed, civil servant and Pakistan's ambassador Riazuddin Ahmed. His uncle Rafeeuddin Ahmed, former Under-Secretary General of the UN, lives in New York. Advocate Khalid M. Ishaq and Supreme Court Justice Sabihuddin Ahmed were cousins, and Lady Sughra Ghulam Hussain Hidayatullah was an aunt. His cousins include Aurat Foundation founder Nigar Ahmad, educationist Afia "Moti" Rabbani, and human-rights activist Asma Jahangir. There have been many accusations and criticisms of his dealings.
Associated Group (AG) was cofounded by Ahmed and his father in 1965. Today, AG is Pakistan’s largest producer, transporter and marketer of liquefied petroleum gas (LPG). Its companies include Pakistan Power Resources (PPR), Jamshoro Joint Venture Limited (JJVL), Lub Gas, Mehran LPG, Pakistan GasPort Limited, AG Omnimedia, AG Publications, Associated Estate Developers (AEDL), and Phoenix Aviation. AG has its headquarters at Lahore and offices in Islamabad and Karachi. It has LPG and power generation facilities in Attock, Dera Ghazi Khan, Hyderabad, Larkana, and Sheikhupura. AG's philanthropic efforts are directed through the Zohra and Z. Z. Ahmed Foundation. AG Chairman Ahmed is also the elected chairman of the LPG Association of Pakistan (LPGAP), and the Publisher and Chairman of the Board of Newsweek Pakistan.
In 2005 he built a plant to produce LPG from "wet" natural gas. Associated's revenues have grown tenfold since then. His $300 million (revenues) family company is the nation's biggest producer of liquefied petroleum gas (LPG).
In one of those meetings on March 22, 2006 attended by Prime Minister Shaukat Aziz and President Pervez Musharraf that official minutes of the meeting (available with The News) stated the order of the President/Prime Minister for “WAPDA” to finalize terms and conditions for leasing Lakhra Power Plant to Associated Group within one week. The same minutes also ordered that “An appropriate block in Thar Coal Field to be allocated to Associated Group”.
The clout of Mr Iqbal Ahmed, a mutual friend of both PPP leaders and Musharraf, is evident from the fact that he was a part of the secret negotiation team which had met Benazir Bhutto at London in 2007 to strike a deal with General Pervez Musharraf. And this fact has also been reported by Mahmood Shaam in his new political book “Upset 2008” based on interviews with General Pervez Musharraf.
In 2010, Pakistan Power Resources LLC (PPR) is incorporated in Oklahoma, and majority-owned by Associated Group and minority-owned by Governor Walters who founded and owns Walters Power International (WPI), also an Oklahoma-incorporated corporation which was founded in 1995. Fasih said Governor Walters’ company is a minority shareholder in Jamshoro Joint Venture Limited (JJVL) on standard terms and conditions allowed under the laws of Pakistan.
He said, the PPR is implementing the gas-fired 110 MW Guddu Power Project and the furnace oil-based 192 MW Multan Power Project, while WPI is implementing the furnace oil-based 205 MW Korangi Power Project and the gas-fired 51 MW Naudero Power Project. WPI has proposed augmenting the Naudero Project to 102 MW to capitalize on economies of scale.
‘The News’ has learnt that Iqbal Z Ahmed of Associated Group, which also has major LPG interests, has set up a company in Oklahoma USA under the name of Pakistan Power Resources. This company, according to an Oklahoma newspaper Tulsa World, is controlled by Iqbal Z Ahmed’s Group. David Walter’s company Walters International is a minority partner of Pakistan Power Resources. Although the industry sources describe Iqbal Z Ahmed to be the primary beneficiary of the rental power bonanza, 783 MW projects have already been contracted to Iqbal Z Ahmed and David Walters. These include: Naudero 51 MW (Naudero Sugar Mills), Guddu 110 MW, Bhichi 225 MW, Korangi 205 MW, Multan 192 MW.
Rafiq Habib & Rasheed Habib Pakistan / UK / Switzerland / Middle East
Worth: £500million, Industry: Banking & Investments
The House of Habib Legend has it that the Goddess of Wealth has been in love with the seasoned Habibs more than anybody else in Pakistan. The House of Habib is a prominent Muslim Khoja business family 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. The Habib group's most famous and successful subsidiary is its Banking and Finance division.This industrial group was founded by Seth Habib Mitha, born in 1878 to Esmail Ali-a factory owner in Bombay. The history of the House of Habib goes back to middle of the previous-to-last century when Esmail Ali of Jamnagar, India, set up a small utensil factory in Bombay. His son Habib Esmail, born in 1878, founded the House of Habib. Habib was very young when his father died, forcing him to join the business of his uncle Cassum Mohammad. Cassum Mohammad was the owner of Khoja Mithabai Nathoo, a merchant, and a manufacturer of copper and brass utensils. It was because of his association with Mithabai Nathoo that Habib Ismaeel came to be known as Seth Habib Mitha.
The House of Habib holds many distinctions in Pakistan's history. Habib Bank was shifted to Pakistan on the personal bidding of Quaid-e-Azam Mohammad Ali Jinnah. The financial strength of the Habibs can be gauged from the fact he came to the aid of the nascent state "even before the Govt of Pakistan was ready to issue appropriate government paper" with a Rs 80 million loan when the Reserve Bank of India failed to deliver Pakistan share of Rs 750 million held by it. It is said that Mohammad Ali Habib gave a blank cheque on Lloyd Bank to the Quaid-e-Azam who wrote Rs 80 million in it.
The Habib family set up offices in Vienna and Geneva as early as 1912 and incorporated Habib and Sons in 1921, which dealt in brass, metal scraps and gold with "Lion of Ali" & Zulfiqar embossed on it. The Habib Bank still uses this as its insignia. 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.
Abdul Razzaq Yakoub & family U.A.E / Pakistan/ UK
Worth: £450million, Industry: Businessman
Mr Abdul Razzak Yakoub (picture on right) is a prominent Pakistani expatriate businessman based in Dubai. He is the owner of ARY Group of Companies ($1.5Billion turnover) and the president of World Memon Organization (WMO). He is one of Pakistan's biggest media barons controlling around 7 channels. Besides this he has 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. Yaqoob is known to provide financial assistance to the Pakistani government in times of need. He is currently involved in setting up a university in Dubai. 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.
Mr Yaqoob was born into a poor family and spent his youth working in a factory to earn some extra money for his family. His parents hail from Surat in India. He came to Dubai from Pakistan in 1969 to recover some money owed to him from a friend. But Yaqoob realised that Dubai was a place of opportunities and decided to stay on. It was in Dubai that Yaqoob created his wealth after running his business on a simple "table-kursi" format.
In 1972 Yakoob established ARY and opened its first outlet in Fikri market Deira. He also started importing watches, perfumes and cigarettes. Two years later, when his brother, Mohammed Iqbal, joined him, the group branched out into dealing with food and Textiles. Besides catering to the local market, they also began exporting food-stuff to Iran. Yaqoob's current business includes a Gold and Silver trading segment.
Yaqoob is Muslim by faith. He keeps a full beard and enjoys simple food. He has also performed the Islamic pilgrimage of Hajj. He is therefore often listed as having the prefix of "Haji" before his name.
Contrary to his religious image, Yaqoob has also promoted non-Islamic views through his privately owned TV channels. TV programs like Pakistan Nachle reflect Yaqoob's utmost zeal to keep Pakistani society away from any religious grounds and as much influenced by the Indian culture as possible.
Abdul is the Chief Executive Officer and owner of the Group. ARY is a diversified group with interests in several sectors, though it is most famous for its contribution to Pakistani television. Companies under the ARY Group umbrella:
• ARY Traders
• ARY Gold
• ARY Digital Network - A bouquet of 5 television channels available via satellite in Pakistan and internationally
• ARY Essenza Jewllery
• ARY Speed Remit - A debit card called "Sahulat Card"
• ARY Communications
• ARY Telecom
• ARY Call Center
• ARY Radio (UK)
• H.M Ismail & Company
• Ayesha Electrical Industries
• New Delite Industries
• Fatima Bai Hospital
• ARY Properties - Construction in Dubai
• ARY Cash & Carry - Jewellery shops, Cash & Carry's
• Security Investment Bank Limited (SIBL)
• ARY Sahulat Bazar
The Lakson Group Sultan Ali Lakhani & family Pakistan
Worth: £450million, Industry: Businessman
The Lakson Group was founded in 1954. Lakson Group is a well-known business group in Pakistan. Its head office is located at Karachi, Sind, Pakistan. 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 for their genteel nature.
The Lakhanis also had a fair share of the criticism in the business world. They had had a very hard time at the hands of National Accountability Bureau (NAB) of Pakistan. Sultan Lakhani( shown on right side) and his three brothers run this prestigious group and the chain of McDonald’s restaurants in Pakistan. They also run Express Channels. 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.
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.
Aqeel Karim Dhedi (AKD) Pakistan
Worth: £400million, 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!
Nasir Schon & family U.A.E/Pakistan
Worth: £400million, Industry: Businessman
Nasir Schon(shown above with brother) is a prominent business leader of Pakistan and the CEO of Schon Group and he is also the Honorary Consul-General of Sierra Leone in Karachi, Sindh, Pakistan. Nasir Schon is the son of Captain Ather Schon Hussain, an ex-pilot of PIA. Ex-Prime Minister Benazir Bhutto once said, "Nasir Schon is an enterprise."The Schon family is one of the few striving Muhajir Urdu business families in Pakistan. Starting off in Singapore in 1982, the peak of Schon group was in 1995 when they owned National 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 people to have a Rolls-Royce in Pakistan. Directors of Schon group flew to Dubai in 1997 in exile after the dismissal of ex-Prime Minister Benazir Bhutto. The directors of Schon group 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 Sharif government. Schon Group is the only group in Pakistan who has paid the government over 3 billion rupees ($65m) in order to return from exile. Living in Dubai gave Nasir Schon an opportunity to start businesses there. Currently working on an $830 million real estate project known as Dubai lagoon, Schon group is also fighting to get back the assets they once lost. Currently, the Schon group operates a pilot training center in Pakistan known as Schon Air.
Chenab Group Mian Mohammed Latif Pakistan
Worth: £400million , Industry: Businessman
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.” ChenOne is a subsidiary of Chenab Limited, formally Chenab Fabrics and Processing Mills Limited. The Group is one of the largest exporters of home textile products from Pakistan.
ChenOne is a chain of fashion stores owned by Chenab Group (based in Faisalabad, Pakistan). The first ChenOne store was opened in 1997 at Lahore. ChenOne has stores located in Pakistan and the Middle East. ChenOne is considered one of the fashion outlets that hits the streets and becomes an instant success. This was the first store of its kind in Pakistan offering the complete range of Fashion clothing & foot wear, Bed Linen, Kitchen Accessories and Furniture. Fashion products by ChenOne are featured in leading fashion magazines of Pakistan. The ChenOne kiosks are popular attractions in the Dubai Shopping Festival and it is a reputed and well known brand inside and outside Pakistan. The Chenab Group is now planning to establish its new retail chains in Bahrain, UA.E, Qatar, Kuwait and Central Asian Republics. With the target of opening 50 stores in Pakistan and internationally by 2015, ChenOne will maintain its status of being the largest chain of stores in Pakistan.
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.
The Abid Group Sheikh Abid Hussain alias Seth Abid Pakistan
Worth: £350million, Industry: Businessman
More than 30 companies operate under the banner of Abid Group. Abid Group, a name which needs no introduction in terms of repute & credibility in the fields of construction & real estate development at Lahore. The core business of the Group is real estate & construction. In the last 30-years Abid Group has undertaken & completed various projects of multi-storey commercial & residential buildings, town houses, and regular as well as farm housing schemes. 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.
In November 2006 a great catastrophi event struck Seth Abid when he heard that his son Seth Ayaz Ahmed was gunned down by his former security guard. His son and wife were saved and have survived the attack. According to his family and friends, he happens to be a very modest and humble person.
Sitara Group Haji Abdul Ghafoor & Haji Bashir Ahmed Pakistan
Worth: £350million, Industry: Businessman
Started its activity with textile weaving as early as 1956, under brothers Haji Abdul Ghafoor and Haji Bashir Ahmed. Haji Abdul Gafoor (Late) and Haji Bashir Ahmed the present Chairman of the Group, the two creative and courageous men, latter joined by second generation, making a blend of experience and modern business knowledge, managed the business growth and development with assistance of highly qualified team of professionals.
It is known for its textile cloth finishing and processing, textile spinning, chlor-alkali sector and in power generation. The units owned by this establishment include Sitara Chemicals Industries Limited, Sitara Preoxides Limited, Sitara Textiles Limited, Sitara Energy Limited, Sitara Developer Limited and Yasser Spinning Limited. 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. Faith in Almighty Allah and in their own abilities & commitment to the cause, untiring efforts and leadership qualities of the family, established the group, which now stands amongst Leading Industrial Groups of the Country, under the Chairmanship of Haji Bashir Ahmed.
Tariq Saigol & Nasim Saigol Pakistan
Worth: £350million, Industry: Businessman
The Saigols originally hail from Jehlum. The Saigol family belong to the Sahgal clan of the Muslim Khatri community. Amin Saigol was a businessman of Punjab, Pakistan. Amin Saigol, the founder of the Saigol business family, was from the village of Khotian in Chakwal District, Punjab, Pakistan. This village is now known as Saigolabad. In 1890, Amin Saigol who established a shoe shop that eventually transformed into Kohinoor Rubber Works. The biggest undertaking of the family was the Kala Shah Kaku Industrial Complex near Lahore, Punjab, Pakistan. They also launched United Bank in 1959. When Prime Minister Zulfiqar Ali Bhutto in 1973 nationalized heavy industries, the family lost 70% of their assets. During the Bhutto era, the Saigols moved out of Pakistan and launched the Conforce Construction Company in collaboration with Germany's Veba Group. 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 four sons got a share. In 1976, the Saigols split into distinct groups headed by Nasim Saigol, Tariq Saeed Saigol, and M Rafique Saigol (who died on December 10, 2005). Nasim Saigol heads Pakistan's largest group in the engineering goods industries. It is the biggest manufacturer of air conditioners, deep freezers, and electric goods supplied to the Water and Power Development Authority. Tariq Saeed Saigol heads the Kohinoor Maple Group, which comprises Kohinoor Textile Mills and Maple Leaf Cement.
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. Many famous personalities such as cricketer Javed Miandad & News analyst Najam Sethi are member of this family.
The Dewan Group Dewan Yousaf Farooqui
Worth: £350million, Industry: Businessman
In 1968, the Dewan Family, under the leadership of Dewan Mohammad Umer Farooqui, ably supported by his younger brother, Dewan Salman Farooqui, decided to enter the industrial arena. The first industrial unit was set up in 1970 under the name and style of Dewan Textile Mills Limited with a capacity of 25,080 spindles which has since been increased to 61,704 spindles. The Group strengthened its footing in the textile field by taking over another textile unit in 1975, now known as Dewan Mushtaq Textile Mills Limited with an installed capacity of 25,776 spindles. Thereafter, the Group established another spinning unit Dewan Khalid Textile Mills limited, consisting of 26,624 spindles.
By mid of 1980's, the Group with its characteristics of honesty, integrity and determination, became one of the major textile groups in the country. At this stage, the Group decided to diversify its activities to other spheres and entered the sugar industry. In 1987, the Group established Dewan Sugar Mills Limited with a sugar cane crushing capacity of 3,500 metric tons/day which has been gradually expanded to 9,000 metric tons/day, thus making it one of the largest sugar plants of the country. The Mills obtained ISO Certification in 1998.
The Group further diversified its range of business by setting up capital-intensive polyester staple fibre plant under the name and style of Dewan Salman Fibre Limited. The Group's credibility is evident from the fact that Dewan Group was able to obtain the collaboration with the world's giant conglomerates like Mitsubishi Corporation of Japan and Sam Yang Company Limited, Republic of Korea and set up the state-of-the-art plant in 1990.
The Company signed an agreement with Messrs Noyvallesina Engineering, an Italian company, for establishing an Acrylic Fibre and Tow Plant as part of its expansion plan. The Acrylic Plant with an installed total capacity of 55,000 tons per annum commenced commercial production operations from 1st July, 2000. In the first phase, the Acrylic Plant is producing 25,000 tons acrylic fibre. In phase II, the output will be raised by 30,000 tons.
The Group manifested its decision to diversify into automobile industry of Pakistan through the incorporation of Dewan Farooque Motors Limited on December, 1998. Within this month, two more milestones were reached: the signing of Technical License and Exclusive Distributor agreements with Hyundai Motor Company, Korea's No. 1 and world's seventh largest automobile manufacturer.
1999 marked another important year in the history of the Group when Dewan Farooque Motors signed the Technical Collaboration Agreement with Kia Motors Corporation of South Korea, in July, 1999. Hyundai-Kia Together, are now the world's six largest automobile manufacturers.
Dewan Farooque Motors is now a key player in the automobile industry of the country offering an impressive line up of passenger cars and commercial vehicles. Its state-of-the-art plant has a capacity of 10,000 vehicles per annum on single shift basis and is equipped with the latest facilities which include CED paint system and robots for the final coat.
June, 2000, marked another important milestone in the history of the Group when its flagship company Dewan Salman Fibre Limited, acquired Dhan Fibre Limited and fully merged and incorporated its facilities into its operations .The total output of Dewan Salman Fibre Limited's 3 polyester units is 700 tons per day. The company today enjoys a market leader's position and commands market share of 60% in the country's fibre industry.
The mentor of this group has been the Sindh Minister for Local Bodies. Industries, Labour, Transport, Mines & Minerals. Holding of so many portfolios y a single man bears ample testimony to the fact that the Dewans keep a leg sticking in polities too. The Dewan Mushtaq Group is one of the Pakistan’s largest industrial conglomerates in sectors like polyester acrylic fiber, manufacturing and automotives. Six of their companies are listed at the Karachi & stock Exchange and one at the Luxembourg bourse. Dewan Farooqui Motors assembles around 10,000 cars annually under technical license agreement with Hyundai and Kia Motors of Korea. The Dewan Salman Fiber is the pride of this empire as it ranks 11th in the world in total production capacity. The group owns three textile units, a motorcycle manufacturing concern and the largest sugar unit in the country. Dewans also have business interests in India. They possess dozens of millions of shares of Saudi Cement and Pak land Cement. They finance some 40 medical dispensaries and over a dozen schools, apart from funding roads/drinking water and Bio-energy infrastructures. Dewans arc on their way building a $ 10 million SME Resources with IFC investment of $ 3 million. The Dewans enjoy massive influence in the engineering sector. They also have the franchise licence for BMW in Pakistan and now Rolls Royce showrooms.
The Dawood Group Razzaq Dawood Pakistan / UAE
Worth: £350million, Industry: Businessman
“Pursue work not money. Get down to work and don’t pursue money. If you run after the money it might run away but if you concentrate on your work, money will automatically follow you. So work, work and only work."
Born in 1905 at Bantwa of Kathiawar State (India), Ahmed Dawood started his career as a small businessman in 1920 and never looked back. From a bicycle of Rs16 he travelled to a position where most modern means of communications wait for him at his door step.
Today, the group has been splited among the decendends of the Dawood family. Razzaq presently heads one of Pakistan's biggest construction and engineering conglomerate know as Dawood group/Descon group. With a roaster of impressive clients. His group has won many contracts in Dubai, Saudi Arabia and Iraq and employs over 1,000 people directly. 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. 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. 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.
Former Federal Minister for 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, son 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. The group also has investment of $300m in Bangladesh in investments in fertiliser, energy and infrastructure and development sectors.
The Sheikhani Family
Worth: £350million, 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 the Premier Nawaz Sharif’s Debt Retirement Fund with a donation of Rs 450 million. Today, his adversaries dub him a land mafia man, alleging him for selling his Gwadar land at only $ 4000 per acre only to senior Army officials while the same was being sold at $ 2,50,000 per acre to ordinary investors. But that is the way Sheikhani runs his vast land/construction empire. Accusations don’t disturb Sheikhani, who according to many large developers is a man who has managed to create tremendous impression in land business. The rumours of his landing in any Pakistani City for land acquisition purposes, helps the price of real estate surge unprecedently overnight.
Byram Dinshawji Avari Pakistan
Worth: £260million, 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.
Shimmy Querishi USA / UAE / Pakistan
Worth: £260million, Industry: Businessman
A jet-setting international businessman who flies’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.
Ibrahim Group Mukhtar Ahmed Pakistan
Worth: £260million 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. Today, under the leadership of current chairman Mr. Sheikh Mukhtar Ahmed and with the help of his skills, the group has progressed in great strength and it has become one of the biggest names among the business circle of Pakistan.
The Atlas Group Sherazi Family Pakistan
Worth: £260million, 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 Rs 15 billion mark and so have the sales.
Atiq Raza US / Pakistan
Worth: £250 million, Industry: I.T & Software
Founder, Chairman and Chief Executive Officer of Raza Microelectronics, Inc, Atiq Raza passed high school [St. Anthony’s & Aitchison College] in the late 1960’s from the old city of Lahore.
After getting a Bachelor’s degree in Electronics from University of London, Atiq flirted briefly with work at the Haripur R& D Labs of the Pakistan Telecoms Corp. before heading out to the US. After finishing his Master’s from Stanford University, where Vinod Khosla [Sun Micro Systems and Kleiner Perkins & Caufield Byers - the venture capital company] and he became friends. Atiq Raza worked at Amdhal Corporation and VLSI Corp. in the Silicon Valley, California.
Atiq then took on the colossal task of taking a handful of engineers at Nexgen [a start-up company] and challenging the total dominance of Intel in the Microprocessors area. He went on to sell Nexgen for $800 million to AMD instead of an offer of $1.2 billion from the memory chip maker Micron. In 1999 he led AMD to successfully produce and market the K-6 processors.
Working tirelessly on weekends and working hands -on to execute the early production problems, Atiq broke Intel’s hold by producing the world’s first 32- bit processors running at 1000 Mhz. Atiq Raza, calling the microprocessor an edge device, saw that the future lay in building chips for the broadband communications, especially the last mile problem. Raza left AMD to start a new venture of his own in 1999. Atiq Raza founded Raza Foundries and Raza Ventures as a special breed of venture capital Company that has successfully pioneered a new concept in the Silicon Valley by taking a team of engineers and rapidly ramping /bringing their ideas to production and eventual buyout. In this way Raza ventures has established a new milestone in creating intellectual capital and value generation in the Silicon Valley. Raza Foundries have built Pacific Broadband communications and Yuni Networks which was sold for $300 million to Applied Microcircuits in 2000. A storage area network is another field that Raza Foundries is developing.
Atiq Raza is guiding Pakistan’s efforts via the OPEN-US California Group to enter into the software market. Mr. Raza serves on the board of directors of AMCC, Maple Optical Systems, Nexsi Systems, Pacific Broadband Communications and several other private companies.
Faruque Khan Pakistan
Worth: £240million, 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 Khyber-Pakhtunkhwa 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 Limited, Cherat Papersack Limited, Cherat Electric Limited, Mirpurkhas Sugar Mills Limited, Faruque (pvt) Limited, Greaves Air-Conditioning (pvt) Limited, Greaves Engineering Services (pvt) Limited, Unicol Limited, a Joint-Venture Company Madian Hydro Power Limited, a Joint-Venture Company Zensoft (pvt) Limited and prime properties around Pakistan
Cupola Group Rafiq Rangoonwala Pakistan
Worth: £240million, 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.
In 1987 he was transferred to Caribbean region as Franchise Service Manager, then to Cairo in 1988 as Field Service Manager for Saudi Arabia and Egypt. He was appointed Market Director of Middle East in 1989. He stayed with PepsiCo in Restaurant Division for over 18 years. In 1997 –1999 he joined Americana as head of its UAE Fast Food Division. He 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. In Houston he was General Secretary of Pakistan American Association of Greater Houston, Board Member of Islamic Education Institute of Texas, and Councillor of Islamic Society of Greater Houston. He was Treasurer of YPO “Young President Organisation” – Pakistan Chapter for 2002-2003 and also served on YPO Board, and chaired Communication committee. He is member Central Committee and Chairman Publication Committee of 21st Century Business & Economic Club and OUAC “Overseas University Alumni Club”, and patron of 21st Century Business & Economics Club’s Women Forum. Additionally, he is also Advisory Board member of Institute of Business Technology. Previously he was Honorary Secretary and Chairperson of Publication & Membership Committee’s of Marketing Association of Pakistan. In February 2004 he was elected President. Vice President Elect Rotary Centennial in April 2005. He is a member of Board of Governors Reflections School and President Food Association of Pakistan. He is a founder member of Pakistan Sri Lanka Business Forum and Pakistan India CEO forum.
The Packages Group Syed Family Pakistan
Worth: £230million, Industry: Businessman
The seed of this huge empire was sown by Syed Maratib Ali, 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 Ali and sons install a packaging Unit by the names of Packages. Established in 1956 as a joint venture between the Ali Group of Pakistan and Akerlund and Rausing of Sweden, Packages Limited provides premium packaging solutions for exceptional value to individuals and businesses. 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. 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.
The group owns Nestle Pakistan too which is being run by Syed Yawar Ali. Syed Babar Ali has also served as Chairman of 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 and they 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. Packages Lanka is a joint venture between Packages Limited and the Print Care Group of Sri Lanka, and DIC Pakistan a joint venture between Packages Limited and Dainippon Ink and Chemicals, Inc. of Japan.
Ghulam Hassan Khan Pakistan
Worth: £220million, Industry: Businessman
Ghulam Hassan Khan is the father of Sardar Khan Niazi who is the Chief Editor The Daily Pakistan. 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 thousands 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 Ghulam 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. Companies owned by the family today: Rafay Mall, Paradise City, SK Dubai, Gasco 2000, Mindworks Technologies, Chain of CNG stations SK Constructions , Rose Hotel, SK plaza, Chung Pa chain fast food Chinese, SKN trust and SK farms.
The Saif Group Saif Family Pakistan
Worth: £220million, Industry: Businessman
The Saifullah family is the owner of the Saif Group. This group is owned and operated by the sons of famous NWFP lady politician Begum Kalsum Saifullah. She is famous for her love of rare diamonds. Her eldest son Javid Saifullah heads 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 Khyber Pakhtunkhwa 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. They are seen as the most influential political family in Pakistan especially in the province of Khyber Pakhtunkhwa. Javaid’s brothers Anwar Saifullah Khan (Former Federal Minister), Salim Saifullah Khan who is acknowledged as a king-maker in Khyber-Pakhtunkhwa politics 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. Their business ventures include Saif Textile Mills Ltd, Kohat Textile Mills Ltd, Mediterranean Textile Company, Saif Power Ltd, Saif Energy Ltd, Saif Healthcare Ltd, Softech Systems Ltd, & Green Fuels (Private) Ltd.
Jehangir Elahi Pakistan
Worth: £220million, Industry: Businessman
Jehangir Elahi is a relative of the richest man on Pakistan. He is a 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.
Afzal & Akmal Kushi UK / Pakistan
Worth: £200million, Industry: Clothing Businesss
Started by Ch. Khushi Mohammad, who migrated to Pakistan and lived in Faisalabad. He came to UK in 1951. He began selling door to door and carried on until 1965 when he bought a grocery shop. Today the legacy of Ch. Khushi Mohammed is continued by his two sons. Afzal Khushi, 51, managing director of Jacobs & Turner, last year received a CBE for services to business in Scotland. Afzal and Akmal Khushi are directors and co-owners of Jacobs & Turner International, probably better known as TRESPASS. He and his brother, Akmal, 50, have made the £90m Glasgow sportswear firm a global business. They also have £30 million pounds of other assets. The two brothers began an import and export company in 1980 and this has proved a great success.
The company, using the Trespass brand name, now export to over 62 countries covering most of the Europe, New Zealand, Australia, Canada, America, Chile and Argentina. They have offices in Hong Kong and spend millions annually on trade fairs and exhibitions. The company also have 70 retail outlets in the UK, including one at the Braehead Shopping centre near Glasgow and more than 40 franchises worldwide. TRESPASS was awarded The UK Fashion Exports Award, formerly known as the British Apparel Export Award three years in a row. They have three large distribution warehouses and have developed a seven and a half acre site for a new distribution centre and international offices at a cost of over five Million Sterling Pounds and located near Glasgow’s city centre. Trespass also acquired the assets and trade of Nevisport Ltd in late 2007 securing the jobs of 100 employees with business continuing to operate from stores in Aberdeen, Aviemore, Edinburgh, Fort William, Glasgow, Leeds, Middlesbrough, Newcastle and York.
Noon family Pakistan
Worth: £200million, Industry: Businessman
A taxpaying feudal 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.
The Sapphire Group Mian Abdullah Pakistan
Worth: £190million, Industry: Businessman
One of the largest manufacturers and exporters of textile products in Pakistan, Sapphire technology comes from Europe, Japan and USA. 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 Capitalizing on the region's principal crop, cotton, Over 14,000 employees ,Annual turnover US $ 500 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.
Nabeel Chaudhry UK / Pakistan
Worth: £180million, Industry: Real Estate
Chaudhry says he isn’t from a particularly privileged background. His father did have a substantial stake in a business, but he died when Chowdery was just five so it was sold and the proceeds used to buy properties which secured a decent rental income.
Still, when he first began to invest in properties himself – he started buying houses for £7,000 a pop in Manchester’s Longsight district in the early 1990s while studying for a degree in accounting and finance. He says he had to carry out much of his own handiwork to save money. He worked for his brother, Aneel Musarrat’s company, Classic Homes. This was founded in 1989 and has subsequently evolved into a huge operation with a string of associate businesses. One of which has just purchased a pair of office blocks in Piccadilly Gardens for £40 million. While there, though, Chowdery felt like he was operating under his brother’s shadow and quit after just 12 months to set up Didsbury-based Property Route in 1996. Among the investments made are a city centre block containing shops and offices on Deansgate, a block on neighbouring John Dalton St containing Panacea and Restaurant Bar & Grill, St John’s Chambers’ building on St John Street and the former Manchester Stock Exchange building on Norfolk St. His best deal to date, though, was the 2004 purchase of the ‘island site’ between John Dalton Street and South King Street containing Old Colony House, 5 Ridgefield and Grange House. He says that he managed to secure the site from vendor GE Capital ahead of property giants like Prudential. “They wanted a £50,000 deposit from me to release the contract, but I told them not to bother – I could arrange for them to have the full amount by exchanging contracts within five days.” It was a tall order, and one that involved his lawyers working right through the weekend, but his ability to deliver such a major deal so quickly landed him the site and boosted his profile considerably. “Everybody in the industry got to know me as a result of that deal,” he says. It also cemented his reputation as a member of the Spice Boys’ club, a lifestyle which he seemed to enjoy. “I suppose I did used to work hard and play hard – I’d always park the Lamborghini outside a club and come back to find girls’ numbers stuck to the windscreen,” he says. However, since marrying last year he’s settled down and it’s done his business no harm. He’s now looking at offers of around £15 milllion for the 100,000 sq ft ‘island’ site and he’s just made the shortlist for Ernst & Young’s Northern Entrepreneur of the Year. “It is nice to see the dividends of your hard work, but to be honest I’m busy working on something else. If that one comes off, it will be my biggest deal by far.”
Aneel Mussarat UK / Pakistan
Worth: £180million, Industry: Real Estate
Aneel Mussarat was born in 1970 in Manchester to Pakistani parents originally belonging to Faisalabad in Pakistan but settled in Manchester. He started renting and managing his family’s property at the age of 17 years and although faced much problem with his tenants he won over these with his perseverance and consistency.
After finishing high school, Mussarat started collecting rent and managing properties owned by his family. His love for the Property Industry helped him overcome all the hurdles that he experienced initially and taste success as an entrepreneur at an early age.
He founded a Private Limited Company named “Classic Homes" and it helped to expand his business beyond the embryonic phase into both commercial and residential sectors. His primary goal was to buy, renovate and develop student accommodation in Liverpool along with making property investments in properties located in Dubai, Europe and in the USA.
Mussarat, 40, is picking up bargains. The Manchester developer bought a portfolio of office and industrial sites for £33m in March. They were on the market last year for £38m. His parent company, MCR Property Group, has a £500m portfolio. Property Millionaire Aneel Mussarat is counted amongst the richest people in the UK. He is the founder of MCR Property Group that deals with both commercial and residential property.
He is not only a top ranking real estate entrepreneur but also a person with wonderful PR skills maintaining sound business relations with his stakeholders. Besides his real estate business, Aneel Mussarat is also famously involved in the entertainment industry working as a producer for Bollywood movies. He has a wonderful set of contacts in the top rung of the business and political worlds of the UK, this being the reason he has been able to host and finance the All Parties Conference held by the former Prime Minister of Pakistan Nawaj Sharif bringing all the major political parties of Pakistan onto one platform.
Although Aneel Mussarat is highly praised for his hard working nature and commitment, his critics have connected the source of his financial turnouts to the political turbulence of Pakistan. However, Mussarat has protested against such claims and explained his funding on top-class companies like HBOS, Britannia Building Society, Nationwide, Alliance & Leicester and Bank of Ireland.
Nazir Family Pakistan
Worth: £170million, Industry: Businessman
One of Faislalabad’s most prominent families is the Haji Nair family. They have made a mark in business circles in Pakistan. Their main strength is in the textile business. They own Masoos textiles, Mahmood Textiles, Asim Textiles. They also have diversified their business as they own many power generation plants.
They are very much a political family. Son of Mr Nazir, Shahid Nazir is an active and a prominent politician in Punjab province of Pakistan. They have favoured many politicians in their election campaign.
Shahzad Group Shahzad Family Pakistan
Worth: £170million, 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.
Inter Equipment Zafar Iqbal Khwaja Pakistan
Worth: £150million, 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.
Chaudhry Brethern Pakistan
Worth: £150million, Industry: Businessman
Chaudhry Manzur Elahi, father of Chaudhry Parvez Elahi is the elder brother of late Chaudhry Zahur Elahi raised in Gujrat; Chaudry Manzur Elahi left his hometown in 1939 to pursue further studies. He received his degree in textile engineering from Amritsar in 1940. Upon his return from Amritsar, Chaudry Manzur Elahi teamed up with his brother to develop their textile business. His family is commonly referred to as Chaudhrys of Gujrat and they were born into a Waraich family of Jats. In 1947-48, he established two textile units under the names of Gujrat Silk Mills and Pakistan Textile Mills. In 1950, the business was expanded to Lahore where they established Parvez Textile Mills, specializing in weaving, finishing and dyeing. In 1951-52, Chaudhry Manzur Elahi went to Japan to import textile machinery for his Gujrat and Lahore units. Armed with his textile education and superior business ethics, Chaudry Manzur Elahi’s textile units continued to flourish under his leadership. The family continued to dedicate their energies to their business and set up Modern Flour Mills in Lahore and Rawalpindi.
Today, this family is one of the wealthiest politicians in Pakistan. They are highly influential in Pakistani politics. The sons of Chaudhry Manzur Elahi and Chaudhry Zahur Elahi are representing Pakistan Muslim League (Quad-e-Azam).
In the elections of 2002, their party won and Pervaiz Elahi was elected for a sixth consecutive term from two constituencies - PP-110 (Gujrat) and PP-292 (Rahim Yar Khan). On November 29, 2002, he was inducted as the Chief Minister of Punjab, serving until November 22, 2007, when the five-year mandate ended for the provincial assembly of Punjab. He is also the President of his political party, Pakistan Muslim League (Q) in Punjab. On 24 July 2006 he was elected, second time unopposed, the President of the PML for next three years.
His cousin and brother-in-law Chaudhry Shujaat Hussain served as the Prime Minister of Pakistan from May to August 2004. He was the parliamentary leader of the ruling PML (Q) party during the period 2002-2007. He is also the Punjab President of PML-Q and was leader of the opposition in the National Assembly,
Saddiq & Sons Pakistan
Worth: £140million, 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, they have invested huge amounts in prime properties around Pakistan.
The Dadabhoy Group Ghani Family Pakistan
Worth: £140million, Industry: Businessman
Abdul Ghani Dadabhoy was the founder of Dadabhoy group, starting in trade and branching off into the construction business. The group has a big share of cement market in Southern Pakistan. Memons by clan, Dadabhoys are closely related to the Bawanies. Abdul Ghani Dadabhoy had five sons and two daughters, namely Noor Mohammad Dadabhoy, Mohammad Farooq Dadabhoy, Mohammad Hussain Dadabhoy, Abdullah Hussain Dada Bhoy and Ghulam Mohammad Dadabhoy. Daughters are Mrs MehrunisaJaffer and Mrs Zaibunisa Tanveer. This Group has massive investments in cement, energy, construction, leasing, polyester, banking and insurance etc. Dadabhoys are seasoned campaigners and perhaps do not like being brought into any sort of reckoning like the Habibs. Despite being a formidable business entity, this family is deemed to be extremely reluctant throughout its history, when it comes to flashing headlines, but mind you these unassuming Dadabhoys are still news-worthy. Any good day, you might hear them doing something new. Stock pundits know a lot more about their past stints at the country’s bourses.
HASSAN AHMED USA / Pakistan
Worth: £130million, Industry: Telecommunication
As President and Chief Executive Officer, Hassan Ahmed is responsible for the strategic direction and management of the company. Prior to joining Sonus in 1998, Dr. Ahmed was Executive Vice President and General Manager of Ascend Communications' Core Systems Division, which grew under his direction to a $1 billion business. Before Ascend's acquisition of Cascade Communications, he served as Cascade's Chief Technology Officer. Previously, Dr. Ahmed was President and Founder of WaveAccess, a pioneer in high-speed wireless network products. Additionally, he has held the positions of Product Engineering Manager, Analog Devices, and Director, VSLI Systems, Motorola Codex. He was also an Associate Professor at the Graduate School of Management, Boston University. Dr. Ahmed holds a BSEE and MSAE from Carleton University and a Ph.D. in Electrical Engineering from Stanford University.
Hassan Ahmed, speaking at the OPEN-US Group’s [Pakistan entrepreneurs Boston Chapter] meeting in September 2000 spoke about his experiences as an enterpreneur. His major points were that one should aim really big, which is the only way to succeed against the existing giants such as CISCO, Lucent. He said that that is what enabled their team at Sonus to produce a world class ESS Class 4 Voice over IP telephone switch which was five times smaller than an equivalent switch from Lucent.
In terms of team building Hassan emphasized that a good strong company is possible when each member is plug compatible with each other and able to back-up each other in terms of technology expertise and marketing and other skills needed in starting-up a new company.
A qualified pilot , he piloted the Company Plane when all other US Airlines were grounded due to weather conditions during their Marketing pre-IPO tour of the US Cities in 2000. The passengers on board were the Sonus team and the Goldman Sachs team members.
Younis Brothers Pakistan
Worth: £120million, Industry: Businessman
The Chairman of this group is Abdul Razzak Tabba. This group owns one of the largest warehouses (textile products) in Pakistan. Yunis 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. The concerns falling under the ambit of the Younis Brothers are Fazal Textiles, Gadoon Textiles, Lucky Cement, Lucky Energy, Lucky Power-Tech, Lucky Textiles, Younis 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.
Abdul Razzak Tabba is quite a philanthropist too and he 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.
Safi Qureshi USA / Pakistan
Worth: £120million, Industry: IT / Software
Born in Karachi in early 1950’s , Safi Qureshi came to the U.S. in 1971 for education in engineering and worked in the Information technology industries of California for companies such as Documenter, Computer Automation, and Telfile Computer.
In 1980 he co-founded a garage-based company making personal computers. As a computer industry veteran Safi played a lead role in not only AST’s growth in emerging markets but in changing the PC industry from a narrow corporate enterprise into a global business. Due to Safi’s intense focus , vision [ that of evolving the digital age as a platform to develop tools that will further promote global & personal communication in all societies.], and passion for innovation AST earned a reputation in the PC industry as one of the foremost brand names. It was recently acquired in the mid 1990’s by Samsung Electronics.
Through his involvement with executives from the high-tech community, UCI and a close relationship with venture capitalists, Mr. Qureshi is active in encouraging entrepreneurship in Southern California. Mr. Qureshi primarily works with companies in the technology space. He is involved in helping companies with strategic growth, mentoring, international expansion, and product direction. Qureshi is an active Board Member in selected companies and an investor in others.
His brainchild is the ALIF [the first letter of the Hebrew, Arabic and Urdu alphabet] which is a televised series in the Urdu language of the Sesame Street series for Pakistan Television broadcast to the children in Pakistan. The programme has been broadcast from mid 1999 to 2000.
In his most recent project, Safi Qureshi is helping Pakistan with Information Technology efforts in becoming a major exporter of Software. He took with him in March 2001 two fellow members Kanwal Rekhi [who sold his company Excelan to Novell] and Dr. Kailash Joshi -- of the The Indus Entrepreneurs Group from San Jose, California to meet the President of Pakistan and also the dynamic Minister for Science & Technology - Dr Ata-ur-Rehman. Later they also visited and had an interactive session at the Institute of Business Administration at Karachi.
Kasim Dada Pakistan
Worth: £110million, Industry: Businessman
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. Had his assets not been nationalised by Bhutto he would definitely had the status many richest men in the world enjoy today.
Mohammad Khan, President and Founder USA / Pakistan
Worth: £100million, Industry: Businessman
Mohammad Khan is the President and Founder of ViVOtech – Khan is a recognized leader in the emerging mobile payments and marketing industry with 27 years of experience in electronic payments and ecommerce. Prior to starting ViVOtech in 2001, Khan spent 15 years at VeriFone starting in its early stage in 1983 when it had only 5 employees. Khan held several management positions at VeriFone and helped the company develop its payment automation systems and later helped successfully market these products in 96 countries. Mr. Khan was also a co-founder of the Internet Commerce business for VeriFone – a leading reason for the acquisition of the company by HP in 1997 for $1.2 billion. Mohammad Khan, sometimes referred as Mr. Contactless or Mobile Czar, has been recognized as a leader of the Electronic Payments Industry by the Transaction Trends Magazine and as a “Mover and Shaker” of the Electronic Payments Industry by the Transaction World magazine.
Recently, Khan received 2010 Outstanding Contributor Award for his contributions to Contactless and Mobile Payments Council by Smart Card Alliance. Khan holds a master's degree in electrical engineering from the University of Hawaii at Manoa.
ViVOtech is a company which produces software and hardware for the Near Field Communication (NFC) mobile payment and promotion market. Founded in 2001, it is based out of Santa Clara, California. The company develops and produces technology designed to enable consumers to download their credit, debit, loyalty or prepaid cards as well as personalized coupons and location-based promotions to NFC mobile phones and use it to pay by just waving the phone at point of sale systems enabled with radio frequency contactless readers.
ViVOtech's products are used for contactless credit/debit cards, mobile phones, and key fobs payments in business such as retail stores and gas stations to vending machines and taxi cabs. ViVOtech's products have been put to use in 33 countries. ViVOtech has worked in collaboration with corporations such as Bank of America, MasterCard, Discover, Citibank, VISA, Chase, Sprint, AT&T, SingTel and Sony.
Safi Qureshi Dubai / UK / Pakistan
Worth: £100 million Source : Real Estate
Qurashi, 41, the son of a Pakistan-born travel agent, was a successful businessman in London, developing one of the first internet cafes in Soho. In 2004 he moved to Dubai, where he flourished, friends say. Four years later, his company, Premier Real Estate Bureau, turned over £400m and employed 80 staff. But he was jailed in a fraud case in 2010. Finally, after two years of fighting against the case he was freed on bail without any charges.
He came to international prominence after buying the island in 2008. In an interview for the ITV show Piers Morgan On Dubai, he told the journalist that he planned to build a glitzy resort that would be a homage to his home city. "I am proud of my British heritage and not a day goes past when I don't miss London. It's home at the end of the day and who doesn't miss home?" he said.
Qurashi formally launched Q Properties in 2012, the first of four companies which will be part of an umbrella holding company to be called the Q Group of Companies.
“The first company is now registered and done, which is Q Properties, which launches on Thursday… There are four companies in total, one is real estate; one is development; one is an investment arm and a facilities management company. They will come under a new branded company called Q Group. We are waiting for the licences to come through in the next week or so,” he said.
Q Properties is looking to develop its first project, which will be a series of villas in Jumeirah Village Circle. “We are working to finalise that project, Total project costs are close to AED50m (US$13.4m),” he confirmed. In addition, Qurashi revealed Q Group plans to launch a number of investment funds and a REIT (Real Estate Investment Trust), which will have a total capital of around US$200m.
“We are launching two real estate funds under the banner of Q Investment… At this stage the real estate fund is aimed at four projects we have got, then, depending what comes onto our table… We also looking at launching a REIT aimed at a US$100m and the fund will be a similar amount,” he said.
[B]Ishaq Dar & Sons
Dubai / Pakistan Worth: £100 million pounD Source: Politics (corruption) & Money Laundry / Financial & Consultancy Services, & Real Estate
HDS Tower in Cluster F of Jumeirah Lakes Tower is only one of the 34 story buildings that belong to the mighty HDS Group. The News Tribe learnt that several other buildings in Jumeirah Lakes Towers, Business Bay and International City, like the HDS Sunstar Towers, are also owned by the millionaire brothers, surprisingly Pakistanis. HDS Group is owned by Ali Dar and Hasnain Dar, the sons of former finance minister of Pakistan, Senator Ishaq Dar. It’s worth mentioning here that the elder son Ali Dar is also the son-in-law of Pakistan Muslim League’s leader Mian Mohammad Nawaz Sharif. Apart from several real estate ventures, The HDS Group also launched HDS Rent a Car, JLT a month back in July 2012. The uniqueness of the car rental company lies in its array of niche car manufacturers and models of cars unavailable to the market. HDS Rent a Car owns the 2012 Lamborghini Aventador LP700-4, Mercedes Benz SLS 63 AMG Gullwing, apart from the more economy cars such as Peugeots and Renaults. Some of the many exotic, luxury and SUVs in the lineup are the the Ferrari Berlinetta F12 and the McLaren F1, and you can do the numbers yourself. The owners from a ‘poor and starving’ country Pakistan, where the average monthly income for an individual is $41, are offering such exotic services in Dubai, which even the local Emiratis fail to afford. One must ask himself / herself that how a politician can justify a single legitimate transaction from Pakistan to any part of the world who has given statement in written against his own party chief. “Where are these politicians getting the money from?” asked a frustrated Pakistani in Dubai, who came to know that the building he lived in is owned by Ali and Hasnain Dar’s HDS Group.“If they have billions of dollars and so much money, why is it not in Pakistan? These politicians talk about the welfare of Pakistani people, but all they can think about is themselves"
Senator of Muslim League N Mr Ishaq Dar had done marriage of his son in Costliest Hotel of Dubai that is one of the most famous and Expensive Hotel of The World. Ishaq Dar spent more than Half Million Dollar on the marriage of his son which is equal to 45 Lakh Pakistani Rupees. Pakistani Pubic is dying with Floods and Looking for Food and our Politicians are Spending Millions of Their Marriages
Baraq Holdings Limited is ably steered by Mr. Mohammad Ishaq Dar, Mr. Helal M. Al Zarooni, Mr. Nasir Ahmed Mehmood and Mr. Ali Mustafa Dar. This company does not just deal in property development; Baraq also provides financial consultancy services.
Afzal Kahn UK/ Pakistan
Worth £100 million, Industry: Automobile
A booming Bradford automotive company which moved into glitzy £2 million premises just two months ago is expanding so rapidly it has already outgrown its new home.
Maybe this has something to do with the fact that, in just a year, the firm has increased the number of countries to which it exports from seven to 45. And the fact that having secured deals with some of the world's top car-makers, it is now an accepted international leader in the production of prestige alloy wheels. Auto Design Technics was started by Afzal Kahn from modest premises in Thornton Road in the late 1980s. But its phenomenal growth has followed the formation of three other companies. The original ADT carved a thriving business designing and selling head-turning wheels for discerning motorists. Its reputation grew.
In the mid-90s came Kahn Design with a mission to become the Rolls Royce of wheel-makers. It seems to have achieved that goal and sells up to 40,000 wheels a year around the globe. The firm has established close links with many of the world's top manufacturers such as Bentley, Aston Martin, Marcos, Jaguar and MG Rover in the UK. Abroad, there are associations with the cream of supercar manufacturers such as Ferrari, Lamborghini, Porsche and Mercedes. The firm is rapidly breaking into new markets every month - even the tough German scene which insists that all wheels sold are tested to destruction.Running alongside these ventures has been another thriving niche business, V12 cars, specialising in selling the world's most prestigious and desirable vehicles. And out of all this grew the most recent enterprise, Project Kahn, a specialised business set up to transform Range Rovers into the sort of luxury vehicle the Sultan of Brunei would deign to be seen in. Taking a standard Range Rover, Project Kahn transforms it into a distinctive rich person's recreational vehicle by adding gleaming alloy wheels, special paintwork, leather trim, lowered suspension and a DVD player in the back. Kahn Design launches soon in the United States and expectations are high that this will create another exponential leap in turnover. Turkey and Thailand were recently added to the list. Australia and New Zealand are up and running. Brazil launches in September.
Project Kahn is a design based automotive company led by creative visionary: Afzal Kahn. Breathtaking individually tailored automobiles await those who will not submit to a life of uniformity only accepting perfection and dedication. Premier League stars including: Peter Crouch, Michael Ball, Sam Allardyce, Dickson Etuhu and entire Chelsea squad have cars and alloy wheels which were designed at Project Kahn. Various celebs are also jumping on the bandwagon - Arnold Schwarzenegger - the ex-governor of California famous for starring in the Terminator movies has also ordered a car from Project Kahn.
Afzal Kahn's story is reminiscent of a rags to riches story that any Hollywood producer would not shy away from. Very few people actually know that Afzal, the son of Pakistani Immigrants actually sold eggs door to door at the tender age of 14: "When I was walking around selling eggs I used to look at car dealerships and I just knew deep down that I could totally re-invent the automotive industry," says Afzal. "I always have had a passion for cars. 18 years ago I decided to go ahead and I started in the wheel industry. I was based in a small shack where I sold other manufacturers wheels. I did that for 10 years and then established Kahn Design. I built it up very quickly and I started producing my own car accessories, exhausts and body kits." The only thing that kept Afzal sane during those difficult times was his faith. It was his belief in the almighty that cemented his unrelenting self belief in his mission to establish himself as a force in the automotive industry: "I worked for free in a plastic moulding factory in order to get some experience of the manufacturing industry."Although the hours were very long and tiring, I gained alot of experience and it held me in good stead. The experience was vital given that I was working for free; I was taught these values from my parents who instilled a religious and hard working ethic into me.
"I actually come from a very under-privileged background and I remember I used to go to school in wellington boots."Although Allah has given me so much; I have never forgotten my roots and I remember the hard times and what Allah has given me and Insha -Allah, the almighty will keep my feet on the ground. "I work for many hours during the day and I also have time for my son Rahail who is a chip of the old block as they say. I make sure he comes to see me after school and we will have something to eat. " will also make sure that he goes to mosque and ensure he grows up in a secure and safe environment, Insha -Allah." In 1996, Afzal launched Kahn Design's first set of wheels. However, what held him back was the quality of manufacturing in the UK: "The quality here in England was inadequate. " went to manufacturers all over the country and I couldn't find any good ones so I went all over the world to find a good manufacturer. Eventually I settled on an Italian manufacturer. I had finally found the quality and production capabilities to manufacture exactly what I wanted."
In 1996 Afzal launched the Rs-R and the RS-S alloy wheels - two completely new and innovative set of wheels that took the world by storm: "I was the first manufacturer to design a wheel with a spoke that ran to the very edge of the rim. This particular style is one of the most replicated styles in the world. From the UK to the Middle East and America, you will see them at car shows, movies and absolutely every where you can imagine. It was good to see that all those hours of hard work had finally paid off." In 2001 he set up V12 Power Ltd. This particular company is one of the most prestigious bespoke vehicle specialists in the UK. However, they were still standard manufactured vehicles.
Project Kahn is now the most successful automotive design house in the UK and is very rapidly expanding at an astonishing rate throughout the world. Coupled with a property portfolio company by the name of Kahn Landmark, Afzal now has a buying power of over £75 million with properties worldwide. This is the first Kahn fashion brand but expect more in the future with the launch of the Kahn Lifestyle' brand.
Afzal has a collection of number plates. He made international headlines in January 2008, with the purchase of the "F1" number plate for £375,000 (plus VAT and fees). He currently has the F1 number plate fitted to one of his two Bugatti Veyrons. In 2010 he was reported to have turned down a £5million offer for the registration number.
Shaf Rasul UK / Pakistan
Worth: £82million, Industry: Real Estate / Computers
Rasul, 38, has joined the online version of the hit television series Dragons’ Den, which will raise the profile of the Lahore-born entrepreneur. The son of a newsagent, who recently ploughed £250,000 into Internet Aquatics, an Edinburgh-based exotic fish supply startup, created E-net Computers, a distributor of optical media, in 1999; in 2007-08, sales at the company came in at £24.9m. In 2006, as one of his first forays into Scottish property schemes, Rasul bought the former Martin & Frost building in Edinburgh, which he plans to turn into the country’s most high-tech apartments to date. He also has an industrial-estate venture in Linlithgow called E-Net Park. In all, with his property interests and other businesses, which include a sister company to E-Net Computers in Dubai.
By 1999 Shaf Rasul was already a self-made multi-millionaire with an extensive investment portfolio that would allow him to take it easy for the rest of his life. Maybe the time had come for the one of Scotland’s most successful entrepreneurs to slow down and set-up a comfortable lifestyle business that would allow him to pursue other interests like business mentoring and philanthropy. It was at that time Rasul – who was recently named as one of two new Dragons in an online version of the BBC’s Dragons Den - established E-Net Computers.
Ten years on the business is now the largest storage media distributor in Europe and one the biggest buyers of optical storage products in the world. The business has developed partnerships with the world’s top optical media manufacturers and has retained supply agreements with a wide portfolio of web-stores and high-street retail chains. A global import/export hub in Dubai and a £5million distribution centre at Edinburgh Airport have also been established to support the growth of the business which recorded peak sales of £67.2million during 2004-05. As well as masterminding the growth of E-Net Computers, Rasul has also developed a venture capital investment portfolio which focuses on property, asset management and internet technology.
In 2006 Ernst and Young Scottish Young Entrepreneur of the Year and was ranked 19th in a Management Today 2008 survey of the UK’s top 100 entrepreneurs. He has also been included in the Asian 100, a list of the most successful members of the British Asian community.
Nazim Khan AKA James Caan UK / Pakistan
Worth: £80million, Industry: Businessman
James caan(formerly Nazim Khan; born 28 December 1960) is a British Pakistani investor, entrepreneur, television personality, and philanthropist. He is the founder and CEO of Hamilton Bradshaw, a UK-based but Virgin Island owned private equity company. Caan lives in London with his wife, Aisha Caan, and two daughters Hanah Caan and Jemma-Lia Caan.
James Caan was born in Lahore, Pakistan. His father was Abdul Rashid Khan, a leather worker; he was born into a household of three brothers and three sisters. His father brought the family to the East End of London in 1962. The family settled in a home just off Brick Lane, and Abdul started a business making leather jackets.
In his youth, Caan worked for his father, but he left school without qualifications at the age of 16, and left home shortly afterwards to pursue his ambitions of founding a business. He says his father took a while to offer his full support.
Caan got his first job in the recruitment industry at the age of 18, when he joined Holborn-based Premier Personnel as a trainee interviewer. Within the year he moved to the larger City Centre Staff Bureau as a branch manager, before being headhunted by Alfred Marks, where he became manager of their Oxford Street branch. Finally, Caan settled down in the recruitment department of Reid Trevena, an incentive-driven financial services company.
In 1985, after several years investing in his wife's chain of boutiques, Caan decided to found his own recruitment company, Alexander Mann. In 1992, he appointed Jonathan Wright to run the business and stepped back to develop other business interests. In 1999, he sold a minority stake in Alexander Mann Group for £25m. The business was then valued at £60m by Advent International. In 2002, he sold his majority stake for an unknown amount. At the time Alexander Mann was turning over £130m a year and operating across Australia, Europe, and Asia.
In 1993, Caan co-founded executive headhunting firm Humana International with Doug Bugie, eventually growing the business to over 147 offices in 30 countries, and launched the trade magazine Recruitment International, with David Head. In 1996, he set up business process outsourcing company Alexander Mann Solutions with Rosaleen Blair. Caan sold Humana International to CDI International in 1999, his stake in Recruitment International to co-founder and editor David Head in 2000, and Alexander Mann Solutions in 2002. In 2003, Caan set up London-based Hamilton Bradshaw, a mid-market private equity company. The Company’s portfolio contains firms in all sectors of industry, although it lists its interests as buyouts, development capital, and turnarounds. In 2006 it bought sandwich shop chain Benjys, which collapsed 9months later into liquidation in 2007 it bought public and private sector recruitment specialist Eden Brown with revenues at over £180m. The company has already increased profits by 70% through a combination of investment and greater efficiency in the first six months of ownership. At present, Hamilton Bradshaw manages 41 companies, with a combined yearly turnover of £400m, and a real estate portfolio valued at £35m. On December 1 2009, James Caan was invited to become the Chairman of The Big Issue Magazine. A move that is hoped to inject the magazine with some entrepreneurial expertise, particularly with a view to bring it into the digital age and launching it in Pakistan.
Caan operates his own charity, the James Caan Foundation, which lends aid to the needy in the UK and Pakistan. Caan’s current and past schemes have focussed on helping disadvantaged children get a quality education. Caan is a member of the Prince's Trust Enterprise Team, he actively supported the NSPCC Full Stop charity campaign, and he adopted a school on behalf of the Care Foundation.
Caan originally visited Pakistan on a humanitarian aid trip in 2005, when he built his first independent school in partnership with The Citizens Foundation (TCF) in Lahore. The school currently educates 420 disadvantaged children between the ages of 5 and 11 for free. The Foundation continues to fund the institution and operates a teacher training programme in its premises. Caan has been working with The Prince’s Trust for several years, supporting them as an ‘Enterprise Fellow’. This involves acting as a role model for younger generations, attending fund-raising events and galas, and involvement in projects which provide support to those with disadvantaged backgrounds. Caan is a senior advisor to Marie Curie Cancer Care. Caan is also supporting their Daffodil Schools Challenge – Marie Curie Cancer Care’s new active citizenship project.
I was called Nazim Khan, and it suddenly struck me that I could spell my surname in a different way. I mentioned this to my friends and they started calling me James Caan as a joke. Then I had some business cards printed with my 'new' name on for fun and somehow the name stuck. Presenting me as James Caan was a great opener with potential clients, so I used it all the time, eventually changing my name by deed poll some years later, much to my father's disapproval.
Tahir Mohsan UK / UAE / Pakistan
Worth: £80million, Industry: Businessman
Tahir Mohsan is the founder of the TIME brand and currently manages several investment companies from his base in Dubai.
TIME Computers was set up by Tahir Mohsan and his half-brother, Dr Tariq Mohammed, in 1987 with an investment of just £1,000. At that time ohsan was aged just 16. This later diversified into many businesses. He was later joined by his younger brothers Zia Mohsan and Zuber Mohsan who both joined after school aged 16, At the age of 33 he moved to Dubai in 2002, to set up Time Group Middle East after selling the UK hardware sales operations (Granville Technology Group) to the management team led by Group MD Brian Lynn and Keiran Crowley.
Following its takeover of rival Tiny in 2002, the £207m-turnover UK operation (owned by Granville Technology) had a national chain of over 300 retail stores that traded under the Computer Shop brand. However, the Granville technology group under the leasdership of Brian Lynn faced difficulties in 2005 and went into administration in July 2005. Subsequent to its Administration, Granville lost the TIME licence for the UK which was acquired by Time UK.
Time Group continues in the UK, Middle East and the Far East, supplying computers, notebooks, plasma screens and TFT screens around the world.
Mohsan also owns the UK's 5th largest Internet service provider Supanet. Currently under the control of Zuber Mohsan who is the companies managing director the Mohans family investment companies have interests in the IT and property industries across Europe, the Middle East and Asia. These range from hardware manufacturing and sales to Internet services, software development and Voice over IP technology company Tpad. Zuber Mohsan joined his brother in Dubai in 2007
He has just acquired the Evesham Technology Group, currently the UK's largest PC and flat-screen manufacturer, but has come under criticism for cutting back production from the Evesham factory and moving it to Time UK's factory in Burnley, resulting is many job losses.
Abdul Bhati UK / Pakistan
Worth: £75million, 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 £150m as well as other assets.
After spending a considerable period of time as a retailer, Mr. Bhatti started his career with the Company working alongside Sir Anwar and Mr Chaudhary at our first depot in Acton.
He later moved to the Southall depot where he established a thriving business. Mr Bhatti joined the Central Buying Office at Head Office in 1996.
He is a Director of Bestway (Holdings) Limited, & its subsidiaries & Bestway Northern. He is a Trustee of the Bestway Foundation in both the UK and Pakistan
Adalat Chaudhary UK / Pakistan
Worth: £75million, Industry: Businessman
Mr Chaudhary is one of the pioneers of the Bestway Group. After spending a considerable period of time as a retailer, he began his career with the company as General Manager of our first depot in Acton. He later moved to the Abbey Road depot, which is the largest cash & carry warehouse in Europe. In 1994, Mr Chaudhary was responsible for setting up the successful Central Ordering Department at head office.
He is a Director of Bestway (Holdings) Limited, & its subsidiaries & Bestway Northern. He is a Trustee of the Bestway Foundation in both the UK and Pakistan.
Younis Sheikh UK /Pakistan
Worth: £75million, Industry: Businessman
Younus is a science graduate and has a Diploma in Leather Manufacturing. He joined the Group at its inception in 1968. He was a founding director and key member of the team that was involved in setting up the cash & carry business in 1976. Having risen through the ranks, he moved to the head office in 1985 as Trading Director. He was responsible for setting up the successful Central Buying Office. Following the Board reshuffle in July 2004 he was appointed Managing Director of Cash & Carry Businesses. He is a Director of Bestway (Holdings) Limited, & its subsidiaries & Bestway Northern. He is a Council Member of the Federation of Wholesale Distributors and is a Trustee of Bestway Foundation UK and Pakistan.
Chaudrey Zameer UK / Pakistan
Worth: £75million, Industry: Businessman
Zameer graduated from the University of Kent at Canterbury and is a Chartered Accountant by profession. He joined Bestway as Financial Controller in 1984 and was promoted to the Board as Finance Director in 1990.
In 1995 he initiated the Group's international business diversification strategy and was appointed Chief Executive of Bestway Cement. In October 2002 Zameer successfully led Bestway's acquisition of United Bank Limited. He now serves as a Director of UBL and Chairman of the Board Audit Committee. Zameer is also a member of the Human Resource & Compensation Committee. He is also a Director of UBL Insurers. In recognition of his efforts Zameer was promoted to Group Chief Executive in July 2004. In January 2005 he successfully spearheaded the £ 100 million acquisition of Batleys Limited. Under his stewardship, Bestway's cement manufacturing operations have blossomed to become the 2nd largest in Pakistan with a capacity of 5.4 million tonnes per annum.
He is a member of the Institute of Chartered Accountants of England & Wales and the Institute of Directors. Zameer has also been a member of the Economic Affairs Committee of the Confederation of British Industry from 2004 to 2008. Zameer is a Trustee of Bestway Foundation UK and Chairman of Bestway Foundation Pakistan. He has recently joined the Board of Trustees of Crimestoppers UK and Caravan. He served as a Governor of John Kelly Schools (Crest Acadamies) in North West London from 1992 to 2002.
Humayun Akhtar Khan & family Pakistan
Worth: £75million, Industry: Businessman / Politics
Humayun Akhtar Khan (born April 1, 1955) is a Pakistani politician. He served as the Commerce Minister from 2002-2007 and as the Investments Minister from 1997-1999. He is also the Senior Vice-President of the Pakistan Muslim League (Q) (PML-Q). His brothers are some of the biggest industrialists in Pakistan and collectively own Riaz Bottlers Ltd., Tandniawala Sugar Mills, and Superior Textile Mills. Humayun is married and has three children.
Humayun and his brothers worked in Canada and the United States. Humayun was in Canada and worked for the Morneau Sobeca Income Fund Company as an Actuary. The brothers decided to return to Pakistan to start their business career and carry their fathers name via politics. Humayun chose to enter politics while his brothers would use their experience in foreign jobs to manage businesses. On their return, the brothers bought out the Lahore franchise of Pepsi Cola Ltd. They have taken it from bankruptcy to an exemplary business which has now become the stand-out Pepsi franchise in all of Pakistan. His brother Akbar Akhtar Khan has a master’s degree in Business Administration, his younger brother Haroon Akhtar Khan is an Actuary, and his youngest brother Ghazi Akhtar Khan is a Chartered Accountant from Canada. They own three textile mills and a sugar mill.
Mo Chaudhry UK / Pakistan
Worth: £70million, Industry: Businessman
He shared his childhood home with livestock in a village which had no electricity. The entrepreneur, 48, is a real-life Slumdog Millionaire. Mo started life in a similar, humble background near Rawalpindi, in rural Pakistan, before moving with his family to Britain. At the age of eight he took his first journey, along with his parents and older brother, to Britain. He made his money in financial services and high-profile ventures which included taking over a failing waterpark in Stoke and turning it into a huge attraction. The man behind WaterWorld appeared on Channel 4's The Secret Millionaire, where he dished out money to worthy causes - and this was on top of the work he regularly does for charity.
Azeem Ibrahim UK / Pakistan
Worth: £50million, Industry: Businessman
Glasgow-born Ibrahim, 31, set up the European Commerce and Mercantile Bank in 2004 and owns a maritime insurance firm, together worth £50m. He has other assets.
Glasgow-born Azeem Ibrahim has been described by his peers as a brilliant young scholar, financial wizard and gifted entrepreneur. A self-made multi-millionaire and one of the wealthiest young people in the UK, Azeem was inaugurated onto The Sunday Times Scots’ Rich List at the age of just 31, with an estimated fortune of US$106m.
In 2007, Azeem became the youngest member of the Bank of Scotland Asian Power 100 produced by Carter Anderson, who described him as one of the most influential and highest-achieving people in Britain. The same year Azeem was included in the Observer Courvoisier Future 500 – a definitive list of the nation’s most forward-thinking and brightest young innovators.
In December 2007, a Scottish Parliament motion signed by a number of MSPs congratulated Azeem and his contribution to the country and in April 2008 Azeem accepted the Lloyds TSB and KPMG Business and Commerce Excellence Jewel Award.
His achievements have attracted considerable recognition around the globe and over the last few years Azeem has met and advised a number of world leaders, including the Prime Minister of Turkey and leaders in the Gulf States.
It seems that a Scot of Pakistani origin is a multi-millionaire, and has brains too. Azeem spends on his time thinking of ways to help the poor. Apparently the Pakistani government with the support of the US has approached Mr. Ibrahim to assist Pakistan in some long term planning, and short term relief for Pakistan after the devastating floods.
Nabeel Gareeb USA / Pakistan
Worth: £50million, Industry: Businessman
Pakistani origin "Nabeel Gareeb" was appointed President and Chief Executive Officer and a member of the Board of Directors of MEMC in 30 April 2002. Under his leadership, MEMC Electronic Materials Inc is successfully implementing a business strategy to reclaim an industry leadership position, with a balance of profits, market share, and technology. Gareeb emigrated to US from Pakistan more than 25 years ago. Nabeel holds a Master of Science degree in engineering management, and a Bachelor of Science degree in electrical / electronics engineering.
As per a list compiled by Forbes Nabeel have made to the league of young CEOs with fattest pay package in the US, list is published in the online edition of the US business magazine, has been topped by a person of Pakistani origin Nabeel Gareeb who is just 43 years old. He also listed himself in the top 25 highest paid men. Forbes reported him "The 43 year old executive ranks 1 within Semiconductors".
Maqbool Rasul Scotland / Pakistan
Worth : £50million, Business: Properties / Rent VideosMr Rasul arrived in the UK from his home town of Jagrawan Faisalabad in Pakistan in 1964 and gained a university degree in Civil Engineering with Honours from Paisley College of Technology (now known as the University of West of Scotland) in 1976. After working in the engineering field for 2 months Rasul realised that it wasn’t for him & started his own business opening grocery shops. The shops proved successful and being the entrepreneur that he is Mr Rasul decided to dedicate part of these stores to movie rental. By 1987 Mr Rasul seized the opportunity and sold his grocery stores and concentrated solely on Global Video. Through his hard work and dedication the business went from strength to strength and at its peak Rasul had 268 stores employing over 1400 staff throughout Scotland, England and Wales. Mr Rasul knew that there was a finite period of time for the movie rental market and concentrated all his efforts in being as successful as possible with Global Video as well as preparing for the future. Rasul and his family now own and manage a very large and diverse portfolio of properties in prime locations in the UK and abroad along with many other personal investments in other sectors.
Johngir & Babbar Saddiq UK / Pakistan
Worth: £25million, Industry: Food
Johngir and Babbar Saddiq, brothers run Big John’s food company, which includes 15 fish-and-chip shops in Birmingham.
Nasir Awan UK / Pakistan
Worth: £25million, Industry: Wholesale Distributer
Awan marketing was established in 1976 by the late founder Mr N.A Awan as a small retail business in Birmingham.
Mumtaz Khan Akbar UK / Pakistan
Worth: £25million, Industry: Restaurants / Food
Mumtaz Khan Akbar is founder and owner of the Mumtaz brand. He was born in Azad Kashmir on February 10, 1959 and joined his family in Britain in 1972.
Tariq Farid USA / Pakistan
Worth: £25million, Industry: Food
Tariq Farid was born near Lahore, Pakistan, in 1969, the oldest of six children of Ghulam and Salma Farid. His father immigrated to the United States in the 1970s, working in Connecticut as a machinist. Tariq Farid arrived in the United States with the rest of the family in 1981, when he was 11 years old.
Tariq Farid is founder, President and Chief Executive Officer of Edible Arrangements International, Inc. (“EAI”), the industry leader in providing high quality, artistically designed fresh fruit arrangements. Tariq is responsible for setting the company’s strategic direction and for the licensing of new franchises across the United States and internationally.
Mohammad Sarwar
Worth: £20million, Industry: Cash & Carry /Politics
He (born 18 August 1952) is a British Labour Party politician who was a Member of Parliament (MP) in Glasgow from 1997 to 2010, first for Glasgow Govan and then from 2005 for Glasgow Central. He was the first Muslim MP in the United Kingdom.
Mohammad Sarwar was born in Pirmahal, Toba Tek Singh District, Pakistan. He was educated at the University of Faisalabad. In 1976 he married Perveen Sarwar, with whom he had three sons and one daughter.
Sarwar has estimated assets of £16 million, mainly from the family wholesale cash and carry business, United Wholesale Grocers, which Sarwar and his brother founded in 1982. The brothers split the business in 2002, with Sarwar forming United Wholesale (Scotland) while his brother retained the previous name.
In 2007 his son, Athif Sarwar, was convicted of an £850,000 missing trader fraud in United Wholesale (Scotland) Limited while he was Managing Director in 2003. Mohammad Sarwar was a remunerated director of the company, but not involved in the fraud.
Shahid khaqan Abassi Pakistan
Worth: £20million, Industry: Airline / Politics
He is a Pakistani businessman, electrical engineer, and a politician. He served as the Federal Minister for Commerce in 2008. Abbasi is the Founder, Chairman and CEO of Pakistani Airline Airblue. He also served as Chairman of Pakistan International Airlines from 1997 to 1999.
He is politically affiliated with the centre-right party PML-N, where he is a senior leader. Shahid Khaqan Abbasi has built the Murree-Kahuta and Kotli Sattian area as their political stronghold and has never lost an election since. He performed his duties as the chairman of National Assembly Standing Committee on Defence.
We have selected only those tycoons who have made their presence felt for a better part of country's history & around the world, have earned consistently, have been setting up units at regular intervals or have been legends in stocks, currency or real estate business.
The list excludes many names that have previously qualified and all of Pakistan's most prominent feudal land lords, who would definitely make it to the top 10, expect the few land owners which have declared their assets and work force and registered with the CBR Islamabad.
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.Latif of BECO- the Steel Man of Pakistan- who did make a lot of name once, but then got gifted with contentment somehow, although the late business wizard got very badly hit by Bhutto's nationalization of 1970 which had inflicted an astounding thud to everybody in business then. Had it not been the case, many of our tycoons may well have managed to gain the kind of status greeting the likes of Birlas and Tatas in India today, if not the one saluting Bill Gates or Warren Buffet. Among these gifted individuals, you will find politicians-turned-businessmen, businessmen-turned-politicians or even the businessmen-cum-politicians. With malice towards none and with no intention to decorate somebody, we thus take the pride of announcing these names. We hope this document will go a long 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, and business leaders of virtue and senior bureaucrats at the Central Board of Revenue.
Following is the list of the top richest families in Pakistan and overseas Pakistanis at the moment. It is an interesting read and does seem like that if not 100%, then it must 80% correct. Many families such as ARY and Giga gave the government of Pakistan huge interest free loans when it was on the brink of default after the sanctions imposed due to the nuclear tests almost crippled Pakistan.
The Nishat Group Mian Muhammad Mansha Yaha Pakistan / UAE / UK
Worth: £2.5billion, Industry: Banking, Textile, Hospitality, & Investments
Mian Muhammad Mansha (above) is a prominent industrialist and entrepreneur who is officially the richest man in Pakistan.
Born in Rawalpindi to a wealthy Chiniot family, his privileged upbringing allowed him to enjoy an early business education at an elite university. He formally joined the family business after completing his studies in London.
Mr Mansha has catapulted to the top of Pakistan's richest families from the 15th position in 1970 and 6th in 1990 because of combination of factors such as his marriage to Naz, who is part of Saigol dynasty. Like several other Chinioti businessmen, Mansha had worked in a leather business in Calcutta (India) before moving to Pakistan in 1947. It was in Calcutta that Mansha developed a rapport with Naz Saigol which led to their marriage in 1970.
Mian Muhammad Mansha has a preference for only the finest tailors made clothing from London. He is often seen donning handmade suits from Savile Row. When visiting London his other favourite boutiques include Gucci, Chanel and Harrods.
Mian Mansha's conglomerate greatly benefited from the privatization drive of the 1990s. Through this period, he made a number of acquisitions and buy-outs, including engineering at least one hostile takeover. When the dust settled, Mansha had acquired a controlling position in Adamjee Group, the country's largest non-life insurer, and D.G. Khan Cement, previously owned by the Saigol family. While going through these large acquisitions, he was simultaneously expanding his Nishat Textiles segment, Nishat Textiles is Pakistan's largest fabric mill.
But all these achievements, perhaps, play third fiddle to Mansha's master-stroke: the acquisition of one of Pakistan's most profitable banks, MCB Bank Limited. Competing with several other bidders in a privatization process, there were several challenges to overcome, but ultimately he persevered. Under Mian Mansha's watch, MCB has demonstrated flawless execution, admirable growth and has built one of the premier financial services management teams in the country.
Mansha has proceeded to venture into new terrain, executing deals with state-owned WAPDA (Water and Power Distribution Authority) to sell excess power capacity installed at Nishat's various facilities. This led to the founding of Nishat Power, which is now going from strength to strength his son Qasim Mansha also laying important part in his decisions.
MCB has also recently started a partnership with Maybank of Malaysia. Maybank now has a 25% share in MCB.
The general perception is that MCB was privatized to Mansha and his associates because of his friendship with Nawaz Sharif. However, Mian Mansha feels that, investing in the shares of Muslim Commercial Bank (MCB) has been one of his biggest business slip ups. The privatization of MCB remains a mystery, till to date. Nawaz Sharif came into power on November 6, 1990, invited bids for the privatization of Muslim Commercial Bank (MCB) on 15 December 1990 and announced its privatization to successful bidder: Messrs Abdullah and others on 9 January 1991.
The stories from the past suggest that five bids were received for Muslim Commercial Bank with ‘Tawakkals’ and ‘Adamjee’, being the highest and second highest bidders. Adamjee who formed a joint venture with Yunus Brothers, perhaps the biggest Export Houses in Pakistan, had incorporated Muslim Commercial Bank in 1949. As previous owner, they had the first right of purchase but, third lowest bid by Messers Abdullah and others, a consortium comprising of 12 leading industrialists, mostly from the Punjab. Mian Muhammad Mansha was asked to match the highest bid and was declared the winner. The consortium which called itself the National Group consisted of many industrial groups and families.
With $700 million in cash from MCB and another $300 million raised from international markets, Mansha has aspirations of acquiring an established bank in Indonesia and possibly even in the Middle East. MCB Bank already has international operations, and the Mansha group also owns an automobile leasing company in Kazakhstan. Further plans include major infrastructure projects in Pakistan, such as the construction of power plants and sea ports.
Mian Mansha is the captain of this splendid ship having around 40 companies on board. Mansha, who owns the Muslim Commercial Bank as well, is now setting up a billion rupee ($ 17 m) paper sack project too. He is one of the richest Pakistanis around. Nishat Group was country’s 15th richest family in 1970, 6th in 1990 and Number 1 in 1997. Mansha is on the board of nearly 50 companies. Chiniotiby clan, Mansha is married to Yousaf Saigol’s daughter. He is deemed to have made investments in many bourses, currency and metal exchanges both within and outside Pakistan. He has had his share of luck on many occasions in life and has also 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.
Pakistan's first billionaire. Born during the tumultuous Partition winter of 1947, when his parents were among those Muslim families making the trek from India to Pakistan. His father and uncles jumped into textiles with Nishat Mills in 1951. Mian went to college in the U.K.; joined family business after graduation. Father died one year after his return. Eventually split with uncles and took over his family's business in West Pakistan decades ago. (The East Pakistan division later went bankrupt). His Nishat Group is now Pakistan's largest exporter of cotton clothes (for brands like Gap) and nation's largest private employer; also invests in power projects, cement and insurance. Smart bet in banking: Won a controversial bid for Muslim Commercial Bank during the country's privatization push in 1991. Sold more than half of his MCB shares for $900 million May 2008. 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". There is no stopping Mansha and he is still on the move.
In 2004, Mansha's group and his preferred candidate were defeated by a margin of two votes in the All Pakistan Textile Mills Association (APTMA). Mansha subsequently resigned from APTMA.
According to his first interview to a foreign magazine, Mian Mansha stated that, "my net worth is about $4-5 billion." Indeed, there have been claims by many circles in Pakistan that the closely held group has a total capitalisation of nearly US$10 Billion (Rs. 800 billion). However, due to a mix of private and public companies in the group, it is not possible to accurately arrive at a definitive capitalization of sea ports. D.G. Khan Cement, which is part of Mansha's Nishat group, was once the target of violence by local people living near the factory. The issue was eventually resolved by discussions and increased security around the plant.
Malik Riaz Hussain Pakistan
Worth: £2 billion , Industry: Property developer, Malls, Hotel
Malik Riaz Hussein (picture on right) heads the massive project which is currently developing state-of-the-art schemes in Lahore and Rawalpindi/Islamabad. He is the chairman of Bahria Town, a US$6 billion (Dh22bn) urban development enterprise that has built gated communities for a million people in the central cities of Lahore and Rawalpindi. In an interview, with cnn channel he declared his assets more than 2 billion US dollars.
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. 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. Its housing projects, unrivalled in Pakistan as models of highly desirable but affordable suburban living, have evolutionized Pakistan’s real-estate sector over the last decade by targeting the previously untapped middle class, rather than the rich. Reproductions of famous landmarks, such as London’s Trafalgar Square, the Eiffel Tower and the Statue of Liberty, point to his aspirations for Pakistan, while beautiful mosques and Quranic calligraphy suggest that modernity is in harmony with Muslim beliefs. He also owns a TV channel whose headquarter is in Bangkok Thailand.
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. 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.
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. The huge popularity of the Bahria Town brand has made Mr Hussain, at the age of 62, one of a handful of Pakistanis believed to be billionaires in US dollar terms, although this cannot be verified as he has never released his tax records. He has responded to the misery of millions of his flood-stricken compatriots by pledging to spend 75 per cent of his fortune on rebuilding their lives.
He has built a state of the art hotel and golf resort. The adjacent Sheraton Hotel is a 372-room luxury palace with serviced villas and unprecedented amenities. Including a state-of-the-art business centre, choice of themed restaurants and bars, an advanced health club, fully serviced spa and beautifully designed outdoor swimming pools. Guests can also enjoy a challenging round of 18 holes at the onsite graceful golf course and unwind later at the Sheraton Golf &Country Club.
He had recently signed a multi-billion dollar deal with Abu Dhabi Group worth US$45 billion dollars but it was scrapped due to pressure from a certain politician from Rawalpindi most probably opposition leader in previous government from Pakistan Muslim League Nawaz , Ch. Nisar. But, he has signed another deal worth US$20billion dollars with an American invester Thomas Kramer to develop two islands on Karachi's coastal area.
He has been made controversial by Pakistan's supreme court judge due to a case in which Arsalan Iftikhar who is a son of a Chief Justice of Pakistan Ch. Iftikhar, was accused of taking bribes in the form of foreign trips and gifted luxury cars so he can inflience his father to get rid of cases against Malik Riaz.
Sharif family Pakistan / UK / Middle East / Turkey
Worth: £1.5 billion, Industry: Politics (corruption), Sugar, Textile & Steel Mills, Construstion, Property Developers & Malls
Mian Muhammad Sharif was prominent Pakistani industrialist. Mr Sharif, Businessman turned politician, is the father of former Prime Minister of Pakistan. Sharif was born Mian Muhammad Sharif in Amritsar (Now in India). His family is traced to Shopian in the Kashmir valley. In 1947, after Pakistan's independence, Sharif immigrated to Pakistan.
Muhammad Sharif was involved in politics through his sons, Nawaz Sharif(above on the left), who was Prime Minister and Shahbaz Sharif(above on the right), who was Chief Minister of Punjab province of Pakistan. He insisted on many policies that were followed by his sons. His son Nawaz Sharif 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 Prime Minister of Pakistan, 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. In his tenure, as the Prime Minister of Pakistan, the first motorway and many new roads were built and took heavy kickbacks in many deals. He is one of the most popular leaders of Pakistan. He had destroy Pakistan's ship breaking industry in is tenure as a Prime Minister of Pakistan by importing tax free metal scrap from foreign countries. He was also involved in money laundering after Pakistan conducted its nuclear tests. He also started a bogus scheme called Karz Utaro Mulk Sawaro (Pay back the loans for the prosperity of the country) in which he had pocketed millions of dollars given to his administration by overseas Pakistanis. They are the biggest tax evaders & bank defaulters of Pakistan.
Raymond Baker in his book Capitalism’s Achilles has given example of Nawaz Sharif & Benazir Bhutto for a modern capitalism and said : " Corruption and criminality run from the top down, with the political class constantly looting the national treasury and distorting economic policy for personal gain. Bank loans are granted largely on the basis of status and connections. The rich stash much of their money abroad in those willing western coffers, while exhibiting little inclination to repay their rupee borrowings. Pakistan’s recent history has been dominated by two families—the Bhuttos and the Sharifs—both merely tolerated by the military, the real power in the country. When it comes to economic destruction, there’s not a lot of difference among the three." Further he explains in detail about Nawaz Sharif corruption on Pages 82-85 " While Benazir Bhutto hated the generals for executing her father, Nawaz Sharif early on figured out that they held the real power in Pakistan. His father had established a foundry in 1939 and, together with six brothers, had struggled for years only to see their business nationalized by Ali Bhutto’s regime in 1972. This sealed decades of enmity between the Bhuttos and the Sharifs. Following the military coup and General Zia’s assumption of power, the business—Ittefaq—was returned to family hands in 1980. Nawaz Sharif became a director and cultivated relations with senior military officers. This led to his appointment as finance minister of Punjab and then election as chief minister of this most populous province in 1985. During the 1980s and early 1990s, given Sharif ’s political control of Punjab and eventual prime ministership of the country, Ittefaq Industries grew from its original single foundry into 30 businesses producing steel, sugar, paper, and textiles, with combined revenues of $400 million, making it one of the biggest private conglomerates in the nation. As in many other countries, when you control the political realm, you can get anything you want in the economic realm.
With Lahore, the capital of Punjab, serving as the seat of the family’s power, one of the first things Sharif did upon becoming prime minister in 1990 was build his long-dreamed-of superhighway from there to the capital, Islamabad. Estimated to cost 8.5 billion rupees, the project went through two biddings. Daewoo of Korea, strengthening its proposals with midnight meetings, was the highest bidder both times, so obviously it won the contract and delivered the job at well over 20 billion rupees.
A new highway needs new cars. Sharif authorized importation of 50,000 vehicles duty free, reportedly costing the government $700 million in lost customs duties. Banks were forced to make loans for vehicle purchases to would-be taxi cab drivers upon receipt of a 10 percent deposit. Borrowers got their “Nawaz Sharif cabs,” and some 60 percent of them promptly defaulted. This left the banks with $500 million or so in unpaid loans. Vehicle dealers reportedly made a killing and expressed their appreciation in expected ways. Under Sharif, unpaid bank loans and massive tax evasion remained the favorite ways to get rich. Upon his loss of power the usurping government published a list of 322 of the largest loan defaulters, representing almost $3 billion out of $4 billion owed to banks. Sharif and his family were tagged for $60 million. The Ittefaq Group went bankrupt in 1993 when Sharif lost his premiership the first time. By then only three units in the group were operational, and loan defaults of the remaining companies totaled some 5.7 billion rupees, more than $100 million.
Like Bhutto, offshore companies have been linked to Sharif, three in the British Virgin Islands by the names of Nescoll, Nielson, and Shamrock and another in the Channel Islands known as Chandron Jersey Pvt. Ltd. Some of these entities allegedly were used to facilitate purchase of four rather grand flats on Park Lane in London, at various times occupied by Sharif family members. Reportedly, payment transfers were made to Banque Paribas en Suisse, which then instructed Sharif ’s offshore companies Nescoll and Nielson to purchase the four luxury suites.
In her second term, Benazir Bhutto had Pakistan’s Federal Investigating Agency begin a probe into the financial affairs of Nawaz Sharif and his family. The probe was headed by Rehman Malik, deputy director general of the agency. Malik had fortified his reputation earlier by aiding in the arrest of Ramzi Yousef, mastermind of the 1993 World Trade Center bombing. During Sharif ’s second term, the draft report of the investigation was suppressed, Malik was jailed for a year, and later reportedly survived an assassination attempt, after which he fled to London. The Malik report, five years in the making, was released in 1998, with explosive revelations:
The records, including government documents, signed affidavits from Pakistani officials, bank files and property records, detail deals that Mr. Malik says benefited Mr. Sharif, his family and his political associates:
• At least $160 million pocketed from a contract to build a highway from Lahore, his home town, to Islamabad, the nation’s capital.
• At least $140 million in unsecured loans from Pakistan’s state banks.
• More than $60 million generated from government rebates on sugar exported by mills controlled by Mr. Sharif and his business associates.
• At least $58 million skimmed from inflated prices paid for imported wheat from the United States and Canada. In the wheat deal, Mr. Sharif ’s government paid prices far above market value to a private company owned by a close associate of his in Washington, the records show. Falsely inflated invoices for the wheat generated tens of millions of dollars in cash.
The report went on to state that “The extent and magnitude of this corruption is so staggering that it has put the very integrity of the country at stake.” In an interview, Malik added: “No other leader of Pakistan has taken that much money from the banks. There is no rule of law in Pakistan. It doesn’t exist.”
What brought Sharif down in his second term was his attempt to acquire virtually dictatorial powers. In 1997 he rammed a bill through his compliant parliament requiring legislators to vote as their party leaders directed. In 1998 he introduced a bill to impose Sharia law (Muslim religious law) across Pakistan, with himself empowered to issue unilateral directives in the name of Islam. In 1999 he sought to sideline the army by replacing Chief of Staff Pervez Musharraf with a more pliable crony. He forgot the lessons he had learned in the 1980s: The army controls Pakistan and politicians are a nuisance. As Musharraf was returning from Sri Lanka, Sharif tried to sack him in midair and deny the Pakistan International Airways flight with 200 civilians on board landing rights in Karachi. Musharraf radioed from the aircraft through Dubai to his commander in Karachi, ordering him to seize the airport control tower, accomplished as the plane descended almost out of fuel. Musharraf turned the tables and completed his coup, and Sharif was jailed.
But Sharif had little to fear. This, after all, is Pakistan. Musharraf needed to consolidate his power with the generals, and Sharif knew details about the corruption of most of the brass. Obviously, it is better to tread lightly around the edges of your peer group’s own thievery. So Musharraf had Sharif probed, tried, convicted, and sentenced to life in prison, but then in 2000 exiled him to Saudi Arabia. Twenty-two containers of carpets and furniture followed, and, of course, his foreign accounts remained mostly intact. Ensconced in a glittering palace in Jeddah, he is described as looking “corpulent” amidst “opulent” surroundings. Reportedly, he and Benazir Bhutto even have an occasional telephone conversation, perhaps together lamenting how unfair life has become."
He was deported from Pakistan after a bloodless coup. Nawaz sharif and his family went to Kingdom of Saudia Arabia where he lived and started a busniess there. He has shares in a company called Al Saif Company which is heavily involved in construction business throughout the Middle East. He has established a steel mill in Saudia Arabia. There are rumours that Sharif family has shares in Panorama Mall in Saudia Arabia & in many other malls around Middle East.
His sons Hassan Nawaz is a well known real estate tycoon in United Kingdom. He has very expensive properties in London & his other brother Hussain Nawaz Sharif manages a company in Saudia Arabia under the name of Hills Metals(Hill Metals Est., M E S T E E L).
The wealth of both, Hassan and Hussain Sharif, has been included in Sharif Family wealth. But their exact worth is unknown as they are master in scams & hiding their wealth from poor people of Pakistan.
The Sharifs own property worth more than 20 million pounds (Rs 2.7 billion) in and around Central London, Daily Times has learnt. Of these, the Sharif family residence, three flats at 17 Avenfield House, 118 Park Lane alone are worth around 12 million pounds (Rs 1.6 billion).
According to documents available to Daily Times, Flagship Investments Limited, one of the companies run by the Sharif family in London, owns property worth around 10 million pounds in Central London. This does not include the value of the company’s offices. Hasan Nawaz Sharif, the son of PML-N chief Nawaz Sharif, is listed as the director of company on official documents.
Luxury residences: According to its website Flagship Investments, the company refurbishes and redevelops luxury residential properties in top end Central London locations. Sought after properties in Mayfair, Knightsbridge, Kensington and Bayswater are their primary focus.
The company’s address listed on the website is Stanhope House, Stanhope Place, Marble Arch – one of the city’s priciest neighbourhoods. However, according to documents seen by Daily Times, the company moved to Tower Bridge House on St Katherine’s Way in November 2007 – a much more upscale property located near the bank of the River Thames.
Properties: The company’s website lists several properties, which include Flat 8, Burwood Place – London W2, worth 700,000 pounds (Rs 96.6 million); Flat 9, Burwood Place – London W2, worth 900,000 pounds (Rs 124.2 million); 10 Duke Mansions, Duke Street, London W1, worth 1,495,000 pounds (Rs 206.31 million); Flat 12a, 118 Park Lane, Mayfair – London SW1, worth 475,000 pounds (Rs 65.55 million); Flat 2, 36 Green Street – London W1, worth 800,000 pounds (Rs 110.4 million); and, 117 Gloucester Place, London W1 (value not listed). The website also features a piece of real estate near the Buckingham Palace, which is valued at around 4,450,000 pounds. In addition, one of the properties listed on the website – 841 Neil Gwynne House, Slone Avenue – is said to be the residence of one Waqar Ahmed, listed on the documents as the Company Secretary of Flagship Investments Limited etc.
Their industrial assets in Pakistan include Brother Steel Mills, Ilyas Enterprises, Hudaybia Paper Mill, Hudaybia Engineering Company, Hamza Spinning Mills, Mehran Ramzan Textile Mills Ltd, Muhammad Baksh Textile Mills, Hamza Board Mills, Kulsoom Textile Mills, Ittefaq Brothers (Pvt) Ltd, Ittefaq Sugar Mills, Khalid Siraj Textile Industries, Ramzan Baksh Textile Mills, Ittefaq Textile Mills, Brothers Textile Mills, Ittefaq Foundries, Barkat Textile Mills, Abdul Aziz Textile Mills, Brothers Sugar Mills, Effective (Pvt) Ltd, Chaudhry Sugar Mills, Ramzan Sugar Mills Ltd, Abdullah Sugar Mills, Channar Sugar Mills, Haseeb Waqas Sugar Mills, Kashmir Sugar Mills, and Yousaf Sugar Mills.
Their residential property including the Model Town bungalow, three houses at Mall Road Murree, property at 135 Upper Mall Lahore, a plot at Model Town Lahore, a plot at Upper Mall, Lahore, the farm house at Jatti Umra Raiwand
Their agricultural property including 10.2 kanals of land at Khanpur Sheikhupura Road Lahore, 41 acres and 7 kanals of land at Sheikhupura, 14.2 kanals of land and another 35 kanals at Bhaipharu in Chunnian and 88 kanals of land at Raiwind.
They also built The Sharif Medical City and Educational Complex as a welfare institution but according to the TV reports, during 2011 dengue crisis, the doctors charged heavy fees for the medical treatment of the patients who were struck by dengue fever. In recent scam which Sharif brothers have done is that they ordered all the barricades for the mega project known as Rapid Transit Bus from their own steel mill without giving tenders & not only that but they have taken heavy kickbacks again in many projects in Punjab.
The son of Ex Chief Minister of Punjab Pakistan Hamza Shahbaz is known as poultry king in Pakistan. He was involved in a scandal with a woman known as Aysha Ahad Malik. Shabaz Sharif's daughter & son in law Imran was also implicated in a bakery assault case. Imran is also a biggest land grabbing Mafia head in Lahore along his cousins Salman Zia Butt.
Shahid Khan USA / Pakistan
Worth: £1.45billion, Industry: Businessman
He (born c. 1950) is an Urbana, Illinois owner of the automobile parts manufacturer Flex-N-Gate Corp. who in February 2010 was reported to have made an agreement to acquire 60 percent ownership of the St. Louis Rams, an American football team. But, later he bought 100% ownership of New Jacksonville Jaguars.
Khan was born in Lahore, Pakistan and moved to the United States when he was 16. He graduated from the University of Illinois School of Mechanical and Industrial Engineering with a BS in 1971.
While attending the University of Illinois he worked at Flex –N-Gate. When he graduated he became the engineering director for the company. In 1978, he started Bumper Works which made car bumpers for customizing pickup trucks and body shop repairs. The transaction involved a $50,000 from the Small Business Loan Corporation and $16,000 in his savings.
In 1980 he bought his former employer Flex-N-Gate bringing Bumper Works into the fold. Khan grew the company so that it supplied bumpers for the Big Three automakers. In 1984 he began supplying a small number of bumpers for Toyota pickups. By 1987 it was the sole supplier for Toyota pickups and by 1989 it was the sole supplier for the entire Toyota line in the United States. Toyota Sensei instruction drastically transformed the company efficiency and ability to change its manufacturing process within a few minutes. Since then the company has grown $17 million in sales to an estimated $2 billion in 2010.
Flex-N-Gate employs over 9,500 people at 48 manufacturing and 9 product development and engineering facilities throughout Canada, the United States, Mexico, Argentina, and Spain. Flex-N-Gate’s products include: large body and chassis structural assemblies; full bumper and fascia systems, brackets, receiver hitches; interior plastic panels and pillars; exterior trim components, running board systems; scissor and screw jacks, tools, spare tire hoists, hinges, checks, pedals, parking brakes, and latch systems.
Khan has received a number of awards from the University of Illinois, incluuding a Distinguished Alumnus Award in 1999 from the Department of Mechanical Science and Industrial Engineering, the Alumni Award for Distinguished Service in 2006 from the College of Engineering, and (with his wife, Ann) the Distinguished Service Award in 2005 from the University of Illinois Alumni Association.
Asif Ali Zardari Pakistan
Worth: £ 1.2billion, Industry: Politics
Asif Ali Zardari (picture on right) born 26 July 1955) was 11th President of Pakistan and the Co-Chairman of the Pakistan People’s Party (PPP). Zardari is the widower of Benazir Bhutto, who twice served as Prime Minister of Pakistan. When his wife was assassinated in December 2007, he became the leader of the PPP. Asif Ali Zardari is a Sindhi of Baloch origin from Sindh. He was born in Karachi and is the son of Hakim Ali Zardari, head of one of the balochi tribes, who chose urban life over rustic surroundings. His mother is from the family of Khan Bahadur Hassan Ali, who was among the founders of the first educational institution in Sindh, "Sindh Madarsa-tul-Islam Karachi".
Asif Zardari dubbed "Mr 10%" an unknown happy-go-lucky son of a small-time businessman who struck gold by marrying one of the world’s 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 bought a castle in France. 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. He has a huge business ventures in the Middle East, especially in Dubai, running into hundreds of millions if not billion mark. He has investments in construction and transportation business in Dubai. 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.
ZARDARI’S ASSETS in Pakistan:
1. Plot no. 121, Phase VIII, DHA Karachi.
2. Agricultural land situated in Deh Dali Wadi, Taluka, Tando Allah Yar.
3. Agricultural property located in Deh Tahooki Taluka, District Hyderabad measuring 65.15 acres.
4. Agricultural land falling in Deh 76-Nusrat, Taluka, District Nawabshah measuring 827.14 acres
5. Agricultural land situated in Deh 76-Nusrat, Taluka, District Nawabshah measuring 293.18 acres
6. Residential plot No 3 (Now House) Block No B-I, City Survey No 2268 Ward-A Nawabshah
7. Huma Heights (Asif Apartments) 133, Depot Lines, Commissariat Road, Karachi
8. Trade Tower Building 3/CL/V Abdullah Haroon Road, Karachi
9. House No 8, St 9, F-8/2, Islamabad
10. Agricultural land in Deh 42 Dad Taluka/ District Nawabshah
11. Agricultural land in Deh 51 Dad Taluka Distt Nawabshah
12. Plot No 3 & 4 Sikni (residential) Near Housing Society Ltd. Nawabshah
13. CafT Sheraz (C.S No.. 2231/2 & 2231/3) Nawabshah
14. Agricultural land in Deh 23-Deh Taluka & District Nawabshah
15. Agricultural property in Deh 72-A, Nusrat Taluka, Nawabshah
16. Agricultural land in Deh 76-Nusrat Taluka, Nawabshah
17. Plot No. A/136 Survey No 2346 Ward A Government Employee’s Cooperative Housing Society Ltd, Nawabshah
18. Agricultural land in Deh Jaryoon Taluka Tando Allah Yar, Distt. Hyderabad
19. Agricultural land in Deh Aroro Taluka Tando Allah Yar, Distt. Hyderabad
20. Agricultural land in Deh Nondani Taluka Tando Allah Yar, Distt. Hyderabad
21. Agricultural land in Deh Lotko Taluka Tando Allah Yar, Distt. Hyderabad
22. Agricultural land in Deh Jhol Taluka Tando Allah Yar, Distt. Hyderabad
23. Agricultural land in Deh Kandari Taluka Tando Allah Yar, Distt. Hyderabad
24. Agricultural land in Deh Deghi Taluka Tando Mohammad Khan
25. Agricultural land in Deh Rahooki Taluka, Hyderabad
26. Property in Deh Charo Taluka, Badin
27. Agricultural property in Deh Dali Wadi Taluka, Hyderabad
28. Five acres prime land allotted by DG KDA in 1995/96
29. 4,000 kanals on Simli Dam
30. 80 acres of land at Hawkes Bay
31. 13 acres of land at Maj Gulradi (KPT Land)
32. One acre plot, GCI, Clifton
33. One acre of land, State Life (International Center, Sadar)
34. FEBCs worth Rs. 4 million
FRONT COMPANIES IN FOREIGN COUNTRIES:
1. Bomer Fiannce Inc, British Virgin Islands
2. Mariston Securities Inc, British Virgin Islands
3. Marleton Business S A, British Virgin Islands
4. Capricorn Trading S A, British Virgin Islands
5. Fagarita Consulting INc, British Virgin Islands
6. Marvil Associated Inc, British Virgin Islands
7. Pawnbury Finance Ltd, British Virgin Islands
8. Oxton Trading Limited, British Virgin Islands
9. Brinslen Invest S A, British Virgin Islands
10. Chimitex Holding S A, British Virgin Islands
11. Elkins Holding S A, British Virgin Islands
12. Minister Invest Ltd, British Virgin Islands
13. Silvernut Investment Inc, British Virgin Islands
14. Tacolen Investment Ltd, British Virgin Islands
15. Marlcrdon Invest S A, British Virgin Islands
16. Dustan Trading Inc, British Virgin Islands
17. Reconstruction and Development Finance Inc, British Virgin Islands
18. Nassam Alexander Inc.
19. Westminster Securities Inc.
20. Laptworth Investment Inc 202, Saint Martin Drive, West Jacksonville
21. Intra Foods Inc. 3376, Lomrel Grove, Jacksonville, Florida
22. Dynatel Trading Co, Florida
23. A..S Realty Inc. Palm Beach Gardens Florida
24. Bon Voyage Travel Consultancy Inc, Florida
ZARDARI’S PROPERTIES IN UK ARE:
1. 355 acre Rockwood Estate, Surrey (Now stands admitted)
2. Flat 6, 11 Queensgate Terrace, London SW7
3. 26 Palace Mansions, Hammersmith Road, London W14
4. 27 Pont Street, London, SW1
5. 20 Wilton Crescent, London SW1
6. 23 Lord Chancellor Walk, Coombe Hill, Kingston, Surrey
7. The Mansion, Warren Lane, West Hampstead, London
8. A flat at Queensgate Terrace, London
9. Houses at Hammersmith Road, Wilton Crescent, Kingston and in Hampstead.
ZARDARI’S PROPERTIES IN BELGIUM ARE:
1. 12-3 Boulevard De-Nieuport, 1000, Brussels, (Building containing 4 shops and 2 large apartments)
2. Chausee De-Mons, 1670, Brussels
ZARDARI’S PROPERTIES IN FRANCE ARE:
1. La Manoir De La Reine Blanche and property in Cannes
ZARDARI’S PROPERTIES IN USA — in the name of Asif Zardari and managed by Shimmy Qureshi are:
1. Stud farm in Texas
2. Wellington Club East, West Palm Beach
3. 12165 West Forest Hills, Florida
4. Escue Farm 13,524 India Mound, West Palm Beach
5. 3,220 Santa Barbara Drive, Wellington Florida
6. 13,254 Polo Club Road, West Palm Beach Florida
7. 3,000 North Ocean Drive, Singer Islands, Florida
8. 525 South Flager Driver, West Palm Beach, Florida
9. Holiday Inn Houston Owned by Asif Ali Zardari, Iqbal Memon and Sadar-ud-Din Hashwani
The Best Way Group Sir Anwar Pervaiz UK / Pakistan
Worth: £1 billion , Industry: Cash & Carry, Real Estate, Manufacturing, Banking & Investments
Sir Anwar Pervaiz (picture on right) 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. He moved to England at the age of 21. He is the Deputy Chairman of United Bank Limited. He is the Chairman of the Board of Trustees of Bestway Foundation UK and the Patron-in-Chief of Bestway Foundation Pakistan. Sir Anwar is a Trustee of the Memorial Gates Trust, Crimestoppers and a supporter of UK Charity The Duke of Edinburgh's Award. Sir Anwar describes himself politically as a Thatcherite. He is an integral supporter and regular donor to the Conservative party. 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. Today they have in total around 50 Cash and Çarry, including their recent takeover of rival group Batleys for around £100m. The Bestway Group moved into the cement business in 1995 when it decided to set up cement manufacturing plant in Pakistan at a cost of $120 million. In 2002, the Bestway Group acquired a 25.5% stake in United Bank Limited. Today, the Bestway Group has a diversified portfolio, with interests in cash & carry wholesale, property investments, retail outlets, milling of rice, lentils and pulses, cement production and more recently into banking. The group's total sales amounted to in excess of £ 2 billion. The group provides direct employment to thousands in the UK and Pakistan. They have many interests in Pakistan too. Sir Anwar Pervaiz and 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!
The Hashoo Group Pakistan
Worth: £600million, Industry: Businessman
Led by the vintage Saddaruddin Hashwani(on the right), he is the Chairman of Hashoo Group. He is Ismaili Nizari Muslim (Aga Khani) by faith. Sadarduddin’sbrother Akbar and the children of another late brother Hassan Ali Hashwani together manage around 45 companies. Akbar runs the second Hashwani Group. He is one of the most well-known magnates in Pakistan who is a regular invitee at the Diplomatic Enclave. The list of local and international bigwigs known personally to Hashwani is unending. The Hashoo Group was established in 1960 by Saddaruddin Hashwani and is one of the larger conglomerates in Pakistan. The Hashoo Group initially operated as a trading enterprise. Today, ‘Hashoo Group’ is one of the most diversified industrial groups in Pakistan with interests across tourism, travel, real-estate development, pharmaceuticals, IT, insurance, batteries, tobacco, construction, engineering and Oil and Gas.
The Hashoo Group is more known for its dominance in Pakistan’s hospitality sector. It has in its fold, as owners and operators, The Pearl Continental Hotels and Marriott Hotels brands with presence in all major cities of Pakistan. They have developed new low cost budget hotels called The One and they have a franchise of a Dubai Based Jumeirah Group's restaurant called The Noodle House.
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. This group has excelled in export of rice, wheat, cotton and barley. It owns textile units, besides having invested billions in mines, minerals. It also owns Orient Petroleum International Inc., a prestigious Oil and Gas exploration and production company. 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.
The Servis Group Shahid Hussain Pakistan
Worth: £500million, Industry: Businessman
Servis Group is one of the most respected corporate citizens of the country and has a rich heritage spanning over half a century. The story of ‘Servis’ begins with a group of friends - young, energetic, fresh from college - who established Service Industries more than 50 years ago.
These young men, named Ch. Nazar Muhammad (Late ,left picture), Ch. Muhammad Hussain (Late, down picture) – both from Gujrat district – and Ch. Muhammad Saeed (Late) from Gujranwala District, started business in 1941 at a small scale in Lahore. At that time, they were only manufacturing handbags and some other sports goods. Within years their business flourished remarkably and they were supplying their products to every corner of India at the time of Partition.
In 1954, they installed a shoe manufacturing plant at industrial area Gulberg, Lahore. This started production in the same year. The industry started manufacturing various types of shoes. Later management shifted the factory from Lahore to Gujrat. Service Sales Corporation (Pvt.) Ltd. – the Group’s marketing company – was established in 1959. Humility, fairness, and respect were the values close to the heart of these founders and it were these values that led to phenomenal success of the Group over the years.
Shahid Hussain is the Chairman of this massive foot-wear giant which now is neck-deep in textile business too. Shahid has replaced Ch Ahmad Saeed (sitting PIA Chairman as the Servis boss). Both Chaudhary Ahmed Saeed and President General Musharraf happen to be old friends from their Forman Christian College days. Ch. Ahmad Saeed’s younger brother Chaudhary Ahmed Multhtar is a well-known Pakistan People’s 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-collar crime, these Servis guys remain relatively comfortable-courtesy their clout as a political-cum-business family. Starting its journey as a single retail footwear outlet, the brand today has a 400+ stores presence in Pakistan, 2000+ dealer-base 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. It is the largest manufacturer of tyres and tubes for two-wheelers, and has been the largest exporter of footwear from Pakistan for a decade. The Company employs more than 9,000 people in its facilities located in Gujrat and Muridke.
Servis Group has entered in the field of pharmaceuticalsthrough Servaid Pharmacy. Servaid Pharmacy was formed in 2005 as a commercial organization with a social imperative. Servaid envisaged a company with the objective of forming Pakistan’s first national chain of pharmacies providing 100% genuine medicine to its customers in a convenient and pleasant environment.
Servaid has already become the largest pharmacy chain in the country in less than four-year time. Currently, it is operating through 31 stores in five different cities providing services to more than 250,000 valued customers every month. Servaid employs more than 350 people.
Servis have been servicing customers internationally for more than 25 Years. The company’s products are exported primarily to Germany, Italy, France and United Kingdom. It is now moving towards retailing globally. Servis and its roots are grounded firmly in Pakistan and its people. A humble venture of friends has grown into a Group that makes a difference in lives of millions of people every day today.
Associated Group Iqbal Z. Ahmed US / Pakistan
Worth: £500million, Industry: Oil & Gas
Iqbal Zafaruddin Ahmed (b. February 3, 1946) or Iqbal Z. Ahmed (pictured above) is a leading businessman of Pakistan. Born in Patna, India, Ahmed is the son of Zohra (d. 1979) and Z. Z. Ahmed (1910-1989), a former Deputy Inspector General of Pakistan Police. He was schooled at Sadiq Public School, Bahawalpur, and Aitchison College, Lahore. He has a bachelor’s degree in economics from Government College, Lahore, and a master’s degree in economics from Punjab University, Lahore. In 1965, while he was still in college, he and his father started a business with $6,000, importing Lambretta scooters from Italy. This didn't do too well as Vespas were the fad.
Ahmed and his wife, Saira Ahmed, live in Lahore, Pakistan, with their four children: Attiq Uddin Ahmed (B Arch, National College of Arts, Lahore; MSc, Columbia University, New York), Fasih Uddin Ahmed (BA, Columbia University), Razi Uddin Ahmed (BA, University of Chicago; MA, Columbia University), and Sadia Ahmed (BA, Lahore University of Management Sciences).
He has two brothers, Qazi Shaukat Fareed and Qazi Humayun Fareed, and a sister, Talat "Manna" Nabi. His grandfather Maulvi Ziauddin Ahmed was the first Indian to serve as Deputy Inspector General of the Bombay Sind Presidency. Ahmed's paternal uncles included the Indian politician Zain-ul-Abideen Ahmed, filmmaker W. Z. Ahmed, civil servant and Pakistan's ambassador Riazuddin Ahmed. His uncle Rafeeuddin Ahmed, former Under-Secretary General of the UN, lives in New York. Advocate Khalid M. Ishaq and Supreme Court Justice Sabihuddin Ahmed were cousins, and Lady Sughra Ghulam Hussain Hidayatullah was an aunt. His cousins include Aurat Foundation founder Nigar Ahmad, educationist Afia "Moti" Rabbani, and human-rights activist Asma Jahangir. There have been many accusations and criticisms of his dealings.
Associated Group (AG) was cofounded by Ahmed and his father in 1965. Today, AG is Pakistan’s largest producer, transporter and marketer of liquefied petroleum gas (LPG). Its companies include Pakistan Power Resources (PPR), Jamshoro Joint Venture Limited (JJVL), Lub Gas, Mehran LPG, Pakistan GasPort Limited, AG Omnimedia, AG Publications, Associated Estate Developers (AEDL), and Phoenix Aviation. AG has its headquarters at Lahore and offices in Islamabad and Karachi. It has LPG and power generation facilities in Attock, Dera Ghazi Khan, Hyderabad, Larkana, and Sheikhupura. AG's philanthropic efforts are directed through the Zohra and Z. Z. Ahmed Foundation. AG Chairman Ahmed is also the elected chairman of the LPG Association of Pakistan (LPGAP), and the Publisher and Chairman of the Board of Newsweek Pakistan.
In 2005 he built a plant to produce LPG from "wet" natural gas. Associated's revenues have grown tenfold since then. His $300 million (revenues) family company is the nation's biggest producer of liquefied petroleum gas (LPG).
In one of those meetings on March 22, 2006 attended by Prime Minister Shaukat Aziz and President Pervez Musharraf that official minutes of the meeting (available with The News) stated the order of the President/Prime Minister for “WAPDA” to finalize terms and conditions for leasing Lakhra Power Plant to Associated Group within one week. The same minutes also ordered that “An appropriate block in Thar Coal Field to be allocated to Associated Group”.
The clout of Mr Iqbal Ahmed, a mutual friend of both PPP leaders and Musharraf, is evident from the fact that he was a part of the secret negotiation team which had met Benazir Bhutto at London in 2007 to strike a deal with General Pervez Musharraf. And this fact has also been reported by Mahmood Shaam in his new political book “Upset 2008” based on interviews with General Pervez Musharraf.
In 2010, Pakistan Power Resources LLC (PPR) is incorporated in Oklahoma, and majority-owned by Associated Group and minority-owned by Governor Walters who founded and owns Walters Power International (WPI), also an Oklahoma-incorporated corporation which was founded in 1995. Fasih said Governor Walters’ company is a minority shareholder in Jamshoro Joint Venture Limited (JJVL) on standard terms and conditions allowed under the laws of Pakistan.
He said, the PPR is implementing the gas-fired 110 MW Guddu Power Project and the furnace oil-based 192 MW Multan Power Project, while WPI is implementing the furnace oil-based 205 MW Korangi Power Project and the gas-fired 51 MW Naudero Power Project. WPI has proposed augmenting the Naudero Project to 102 MW to capitalize on economies of scale.
‘The News’ has learnt that Iqbal Z Ahmed of Associated Group, which also has major LPG interests, has set up a company in Oklahoma USA under the name of Pakistan Power Resources. This company, according to an Oklahoma newspaper Tulsa World, is controlled by Iqbal Z Ahmed’s Group. David Walter’s company Walters International is a minority partner of Pakistan Power Resources. Although the industry sources describe Iqbal Z Ahmed to be the primary beneficiary of the rental power bonanza, 783 MW projects have already been contracted to Iqbal Z Ahmed and David Walters. These include: Naudero 51 MW (Naudero Sugar Mills), Guddu 110 MW, Bhichi 225 MW, Korangi 205 MW, Multan 192 MW.
Rafiq Habib & Rasheed Habib Pakistan / UK / Switzerland / Middle East
Worth: £500million, Industry: Banking & Investments
The House of Habib Legend has it that the Goddess of Wealth has been in love with the seasoned Habibs more than anybody else in Pakistan. The House of Habib is a prominent Muslim Khoja business family 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. The Habib group's most famous and successful subsidiary is its Banking and Finance division.This industrial group was founded by Seth Habib Mitha, born in 1878 to Esmail Ali-a factory owner in Bombay. The history of the House of Habib goes back to middle of the previous-to-last century when Esmail Ali of Jamnagar, India, set up a small utensil factory in Bombay. His son Habib Esmail, born in 1878, founded the House of Habib. Habib was very young when his father died, forcing him to join the business of his uncle Cassum Mohammad. Cassum Mohammad was the owner of Khoja Mithabai Nathoo, a merchant, and a manufacturer of copper and brass utensils. It was because of his association with Mithabai Nathoo that Habib Ismaeel came to be known as Seth Habib Mitha.
The House of Habib holds many distinctions in Pakistan's history. Habib Bank was shifted to Pakistan on the personal bidding of Quaid-e-Azam Mohammad Ali Jinnah. The financial strength of the Habibs can be gauged from the fact he came to the aid of the nascent state "even before the Govt of Pakistan was ready to issue appropriate government paper" with a Rs 80 million loan when the Reserve Bank of India failed to deliver Pakistan share of Rs 750 million held by it. It is said that Mohammad Ali Habib gave a blank cheque on Lloyd Bank to the Quaid-e-Azam who wrote Rs 80 million in it.
The Habib family set up offices in Vienna and Geneva as early as 1912 and incorporated Habib and Sons in 1921, which dealt in brass, metal scraps and gold with "Lion of Ali" & Zulfiqar embossed on it. The Habib Bank still uses this as its insignia. 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.
Abdul Razzaq Yakoub & family U.A.E / Pakistan/ UK
Worth: £450million, Industry: Businessman
Mr Abdul Razzak Yakoub (picture on right) is a prominent Pakistani expatriate businessman based in Dubai. He is the owner of ARY Group of Companies ($1.5Billion turnover) and the president of World Memon Organization (WMO). He is one of Pakistan's biggest media barons controlling around 7 channels. Besides this he has 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. Yaqoob is known to provide financial assistance to the Pakistani government in times of need. He is currently involved in setting up a university in Dubai. 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.
Mr Yaqoob was born into a poor family and spent his youth working in a factory to earn some extra money for his family. His parents hail from Surat in India. He came to Dubai from Pakistan in 1969 to recover some money owed to him from a friend. But Yaqoob realised that Dubai was a place of opportunities and decided to stay on. It was in Dubai that Yaqoob created his wealth after running his business on a simple "table-kursi" format.
In 1972 Yakoob established ARY and opened its first outlet in Fikri market Deira. He also started importing watches, perfumes and cigarettes. Two years later, when his brother, Mohammed Iqbal, joined him, the group branched out into dealing with food and Textiles. Besides catering to the local market, they also began exporting food-stuff to Iran. Yaqoob's current business includes a Gold and Silver trading segment.
Yaqoob is Muslim by faith. He keeps a full beard and enjoys simple food. He has also performed the Islamic pilgrimage of Hajj. He is therefore often listed as having the prefix of "Haji" before his name.
Contrary to his religious image, Yaqoob has also promoted non-Islamic views through his privately owned TV channels. TV programs like Pakistan Nachle reflect Yaqoob's utmost zeal to keep Pakistani society away from any religious grounds and as much influenced by the Indian culture as possible.
Abdul is the Chief Executive Officer and owner of the Group. ARY is a diversified group with interests in several sectors, though it is most famous for its contribution to Pakistani television. Companies under the ARY Group umbrella:
• ARY Traders
• ARY Gold
• ARY Digital Network - A bouquet of 5 television channels available via satellite in Pakistan and internationally
• ARY Essenza Jewllery
• ARY Speed Remit - A debit card called "Sahulat Card"
• ARY Communications
• ARY Telecom
• ARY Call Center
• ARY Radio (UK)
• H.M Ismail & Company
• Ayesha Electrical Industries
• New Delite Industries
• Fatima Bai Hospital
• ARY Properties - Construction in Dubai
• ARY Cash & Carry - Jewellery shops, Cash & Carry's
• Security Investment Bank Limited (SIBL)
• ARY Sahulat Bazar
The Lakson Group Sultan Ali Lakhani & family Pakistan
Worth: £450million, Industry: Businessman
The Lakson Group was founded in 1954. Lakson Group is a well-known business group in Pakistan. Its head office is located at Karachi, Sind, Pakistan. 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 for their genteel nature.
The Lakhanis also had a fair share of the criticism in the business world. They had had a very hard time at the hands of National Accountability Bureau (NAB) of Pakistan. Sultan Lakhani( shown on right side) and his three brothers run this prestigious group and the chain of McDonald’s restaurants in Pakistan. They also run Express Channels. 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.
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.
Aqeel Karim Dhedi (AKD) Pakistan
Worth: £400million, 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!
Nasir Schon & family U.A.E/Pakistan
Worth: £400million, Industry: Businessman
Nasir Schon(shown above with brother) is a prominent business leader of Pakistan and the CEO of Schon Group and he is also the Honorary Consul-General of Sierra Leone in Karachi, Sindh, Pakistan. Nasir Schon is the son of Captain Ather Schon Hussain, an ex-pilot of PIA. Ex-Prime Minister Benazir Bhutto once said, "Nasir Schon is an enterprise."The Schon family is one of the few striving Muhajir Urdu business families in Pakistan. Starting off in Singapore in 1982, the peak of Schon group was in 1995 when they owned National 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 people to have a Rolls-Royce in Pakistan. Directors of Schon group flew to Dubai in 1997 in exile after the dismissal of ex-Prime Minister Benazir Bhutto. The directors of Schon group 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 Sharif government. Schon Group is the only group in Pakistan who has paid the government over 3 billion rupees ($65m) in order to return from exile. Living in Dubai gave Nasir Schon an opportunity to start businesses there. Currently working on an $830 million real estate project known as Dubai lagoon, Schon group is also fighting to get back the assets they once lost. Currently, the Schon group operates a pilot training center in Pakistan known as Schon Air.
Chenab Group Mian Mohammed Latif Pakistan
Worth: £400million , Industry: Businessman
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.” ChenOne is a subsidiary of Chenab Limited, formally Chenab Fabrics and Processing Mills Limited. The Group is one of the largest exporters of home textile products from Pakistan.
ChenOne is a chain of fashion stores owned by Chenab Group (based in Faisalabad, Pakistan). The first ChenOne store was opened in 1997 at Lahore. ChenOne has stores located in Pakistan and the Middle East. ChenOne is considered one of the fashion outlets that hits the streets and becomes an instant success. This was the first store of its kind in Pakistan offering the complete range of Fashion clothing & foot wear, Bed Linen, Kitchen Accessories and Furniture. Fashion products by ChenOne are featured in leading fashion magazines of Pakistan. The ChenOne kiosks are popular attractions in the Dubai Shopping Festival and it is a reputed and well known brand inside and outside Pakistan. The Chenab Group is now planning to establish its new retail chains in Bahrain, UA.E, Qatar, Kuwait and Central Asian Republics. With the target of opening 50 stores in Pakistan and internationally by 2015, ChenOne will maintain its status of being the largest chain of stores in Pakistan.
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.
The Abid Group Sheikh Abid Hussain alias Seth Abid Pakistan
Worth: £350million, Industry: Businessman
More than 30 companies operate under the banner of Abid Group. Abid Group, a name which needs no introduction in terms of repute & credibility in the fields of construction & real estate development at Lahore. The core business of the Group is real estate & construction. In the last 30-years Abid Group has undertaken & completed various projects of multi-storey commercial & residential buildings, town houses, and regular as well as farm housing schemes. 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.
In November 2006 a great catastrophi event struck Seth Abid when he heard that his son Seth Ayaz Ahmed was gunned down by his former security guard. His son and wife were saved and have survived the attack. According to his family and friends, he happens to be a very modest and humble person.
Sitara Group Haji Abdul Ghafoor & Haji Bashir Ahmed Pakistan
Worth: £350million, Industry: Businessman
Started its activity with textile weaving as early as 1956, under brothers Haji Abdul Ghafoor and Haji Bashir Ahmed. Haji Abdul Gafoor (Late) and Haji Bashir Ahmed the present Chairman of the Group, the two creative and courageous men, latter joined by second generation, making a blend of experience and modern business knowledge, managed the business growth and development with assistance of highly qualified team of professionals.
It is known for its textile cloth finishing and processing, textile spinning, chlor-alkali sector and in power generation. The units owned by this establishment include Sitara Chemicals Industries Limited, Sitara Preoxides Limited, Sitara Textiles Limited, Sitara Energy Limited, Sitara Developer Limited and Yasser Spinning Limited. 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. Faith in Almighty Allah and in their own abilities & commitment to the cause, untiring efforts and leadership qualities of the family, established the group, which now stands amongst Leading Industrial Groups of the Country, under the Chairmanship of Haji Bashir Ahmed.
Tariq Saigol & Nasim Saigol Pakistan
Worth: £350million, Industry: Businessman
The Saigols originally hail from Jehlum. The Saigol family belong to the Sahgal clan of the Muslim Khatri community. Amin Saigol was a businessman of Punjab, Pakistan. Amin Saigol, the founder of the Saigol business family, was from the village of Khotian in Chakwal District, Punjab, Pakistan. This village is now known as Saigolabad. In 1890, Amin Saigol who established a shoe shop that eventually transformed into Kohinoor Rubber Works. The biggest undertaking of the family was the Kala Shah Kaku Industrial Complex near Lahore, Punjab, Pakistan. They also launched United Bank in 1959. When Prime Minister Zulfiqar Ali Bhutto in 1973 nationalized heavy industries, the family lost 70% of their assets. During the Bhutto era, the Saigols moved out of Pakistan and launched the Conforce Construction Company in collaboration with Germany's Veba Group. 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 four sons got a share. In 1976, the Saigols split into distinct groups headed by Nasim Saigol, Tariq Saeed Saigol, and M Rafique Saigol (who died on December 10, 2005). Nasim Saigol heads Pakistan's largest group in the engineering goods industries. It is the biggest manufacturer of air conditioners, deep freezers, and electric goods supplied to the Water and Power Development Authority. Tariq Saeed Saigol heads the Kohinoor Maple Group, which comprises Kohinoor Textile Mills and Maple Leaf Cement.
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. Many famous personalities such as cricketer Javed Miandad & News analyst Najam Sethi are member of this family.
The Dewan Group Dewan Yousaf Farooqui
Worth: £350million, Industry: Businessman
In 1968, the Dewan Family, under the leadership of Dewan Mohammad Umer Farooqui, ably supported by his younger brother, Dewan Salman Farooqui, decided to enter the industrial arena. The first industrial unit was set up in 1970 under the name and style of Dewan Textile Mills Limited with a capacity of 25,080 spindles which has since been increased to 61,704 spindles. The Group strengthened its footing in the textile field by taking over another textile unit in 1975, now known as Dewan Mushtaq Textile Mills Limited with an installed capacity of 25,776 spindles. Thereafter, the Group established another spinning unit Dewan Khalid Textile Mills limited, consisting of 26,624 spindles.
By mid of 1980's, the Group with its characteristics of honesty, integrity and determination, became one of the major textile groups in the country. At this stage, the Group decided to diversify its activities to other spheres and entered the sugar industry. In 1987, the Group established Dewan Sugar Mills Limited with a sugar cane crushing capacity of 3,500 metric tons/day which has been gradually expanded to 9,000 metric tons/day, thus making it one of the largest sugar plants of the country. The Mills obtained ISO Certification in 1998.
The Group further diversified its range of business by setting up capital-intensive polyester staple fibre plant under the name and style of Dewan Salman Fibre Limited. The Group's credibility is evident from the fact that Dewan Group was able to obtain the collaboration with the world's giant conglomerates like Mitsubishi Corporation of Japan and Sam Yang Company Limited, Republic of Korea and set up the state-of-the-art plant in 1990.
The Company signed an agreement with Messrs Noyvallesina Engineering, an Italian company, for establishing an Acrylic Fibre and Tow Plant as part of its expansion plan. The Acrylic Plant with an installed total capacity of 55,000 tons per annum commenced commercial production operations from 1st July, 2000. In the first phase, the Acrylic Plant is producing 25,000 tons acrylic fibre. In phase II, the output will be raised by 30,000 tons.
The Group manifested its decision to diversify into automobile industry of Pakistan through the incorporation of Dewan Farooque Motors Limited on December, 1998. Within this month, two more milestones were reached: the signing of Technical License and Exclusive Distributor agreements with Hyundai Motor Company, Korea's No. 1 and world's seventh largest automobile manufacturer.
1999 marked another important year in the history of the Group when Dewan Farooque Motors signed the Technical Collaboration Agreement with Kia Motors Corporation of South Korea, in July, 1999. Hyundai-Kia Together, are now the world's six largest automobile manufacturers.
Dewan Farooque Motors is now a key player in the automobile industry of the country offering an impressive line up of passenger cars and commercial vehicles. Its state-of-the-art plant has a capacity of 10,000 vehicles per annum on single shift basis and is equipped with the latest facilities which include CED paint system and robots for the final coat.
June, 2000, marked another important milestone in the history of the Group when its flagship company Dewan Salman Fibre Limited, acquired Dhan Fibre Limited and fully merged and incorporated its facilities into its operations .The total output of Dewan Salman Fibre Limited's 3 polyester units is 700 tons per day. The company today enjoys a market leader's position and commands market share of 60% in the country's fibre industry.
The mentor of this group has been the Sindh Minister for Local Bodies. Industries, Labour, Transport, Mines & Minerals. Holding of so many portfolios y a single man bears ample testimony to the fact that the Dewans keep a leg sticking in polities too. The Dewan Mushtaq Group is one of the Pakistan’s largest industrial conglomerates in sectors like polyester acrylic fiber, manufacturing and automotives. Six of their companies are listed at the Karachi & stock Exchange and one at the Luxembourg bourse. Dewan Farooqui Motors assembles around 10,000 cars annually under technical license agreement with Hyundai and Kia Motors of Korea. The Dewan Salman Fiber is the pride of this empire as it ranks 11th in the world in total production capacity. The group owns three textile units, a motorcycle manufacturing concern and the largest sugar unit in the country. Dewans also have business interests in India. They possess dozens of millions of shares of Saudi Cement and Pak land Cement. They finance some 40 medical dispensaries and over a dozen schools, apart from funding roads/drinking water and Bio-energy infrastructures. Dewans arc on their way building a $ 10 million SME Resources with IFC investment of $ 3 million. The Dewans enjoy massive influence in the engineering sector. They also have the franchise licence for BMW in Pakistan and now Rolls Royce showrooms.
The Dawood Group Razzaq Dawood Pakistan / UAE
Worth: £350million, Industry: Businessman
“Pursue work not money. Get down to work and don’t pursue money. If you run after the money it might run away but if you concentrate on your work, money will automatically follow you. So work, work and only work."
Born in 1905 at Bantwa of Kathiawar State (India), Ahmed Dawood started his career as a small businessman in 1920 and never looked back. From a bicycle of Rs16 he travelled to a position where most modern means of communications wait for him at his door step.
Today, the group has been splited among the decendends of the Dawood family. Razzaq presently heads one of Pakistan's biggest construction and engineering conglomerate know as Dawood group/Descon group. With a roaster of impressive clients. His group has won many contracts in Dubai, Saudi Arabia and Iraq and employs over 1,000 people directly. 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. 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. 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.
Former Federal Minister for 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, son 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. The group also has investment of $300m in Bangladesh in investments in fertiliser, energy and infrastructure and development sectors.
The Sheikhani Family
Worth: £350million, 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 the Premier Nawaz Sharif’s Debt Retirement Fund with a donation of Rs 450 million. Today, his adversaries dub him a land mafia man, alleging him for selling his Gwadar land at only $ 4000 per acre only to senior Army officials while the same was being sold at $ 2,50,000 per acre to ordinary investors. But that is the way Sheikhani runs his vast land/construction empire. Accusations don’t disturb Sheikhani, who according to many large developers is a man who has managed to create tremendous impression in land business. The rumours of his landing in any Pakistani City for land acquisition purposes, helps the price of real estate surge unprecedently overnight.
Byram Dinshawji Avari Pakistan
Worth: £260million, 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.
Shimmy Querishi USA / UAE / Pakistan
Worth: £260million, Industry: Businessman
A jet-setting international businessman who flies’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.
Ibrahim Group Mukhtar Ahmed Pakistan
Worth: £260million 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. Today, under the leadership of current chairman Mr. Sheikh Mukhtar Ahmed and with the help of his skills, the group has progressed in great strength and it has become one of the biggest names among the business circle of Pakistan.
The Atlas Group Sherazi Family Pakistan
Worth: £260million, 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 Rs 15 billion mark and so have the sales.
Atiq Raza US / Pakistan
Worth: £250 million, Industry: I.T & Software
Founder, Chairman and Chief Executive Officer of Raza Microelectronics, Inc, Atiq Raza passed high school [St. Anthony’s & Aitchison College] in the late 1960’s from the old city of Lahore.
After getting a Bachelor’s degree in Electronics from University of London, Atiq flirted briefly with work at the Haripur R& D Labs of the Pakistan Telecoms Corp. before heading out to the US. After finishing his Master’s from Stanford University, where Vinod Khosla [Sun Micro Systems and Kleiner Perkins & Caufield Byers - the venture capital company] and he became friends. Atiq Raza worked at Amdhal Corporation and VLSI Corp. in the Silicon Valley, California.
Atiq then took on the colossal task of taking a handful of engineers at Nexgen [a start-up company] and challenging the total dominance of Intel in the Microprocessors area. He went on to sell Nexgen for $800 million to AMD instead of an offer of $1.2 billion from the memory chip maker Micron. In 1999 he led AMD to successfully produce and market the K-6 processors.
Working tirelessly on weekends and working hands -on to execute the early production problems, Atiq broke Intel’s hold by producing the world’s first 32- bit processors running at 1000 Mhz. Atiq Raza, calling the microprocessor an edge device, saw that the future lay in building chips for the broadband communications, especially the last mile problem. Raza left AMD to start a new venture of his own in 1999. Atiq Raza founded Raza Foundries and Raza Ventures as a special breed of venture capital Company that has successfully pioneered a new concept in the Silicon Valley by taking a team of engineers and rapidly ramping /bringing their ideas to production and eventual buyout. In this way Raza ventures has established a new milestone in creating intellectual capital and value generation in the Silicon Valley. Raza Foundries have built Pacific Broadband communications and Yuni Networks which was sold for $300 million to Applied Microcircuits in 2000. A storage area network is another field that Raza Foundries is developing.
Atiq Raza is guiding Pakistan’s efforts via the OPEN-US California Group to enter into the software market. Mr. Raza serves on the board of directors of AMCC, Maple Optical Systems, Nexsi Systems, Pacific Broadband Communications and several other private companies.
Faruque Khan Pakistan
Worth: £240million, 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 Khyber-Pakhtunkhwa 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 Limited, Cherat Papersack Limited, Cherat Electric Limited, Mirpurkhas Sugar Mills Limited, Faruque (pvt) Limited, Greaves Air-Conditioning (pvt) Limited, Greaves Engineering Services (pvt) Limited, Unicol Limited, a Joint-Venture Company Madian Hydro Power Limited, a Joint-Venture Company Zensoft (pvt) Limited and prime properties around Pakistan
Cupola Group Rafiq Rangoonwala Pakistan
Worth: £240million, 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.
In 1987 he was transferred to Caribbean region as Franchise Service Manager, then to Cairo in 1988 as Field Service Manager for Saudi Arabia and Egypt. He was appointed Market Director of Middle East in 1989. He stayed with PepsiCo in Restaurant Division for over 18 years. In 1997 –1999 he joined Americana as head of its UAE Fast Food Division. He 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. In Houston he was General Secretary of Pakistan American Association of Greater Houston, Board Member of Islamic Education Institute of Texas, and Councillor of Islamic Society of Greater Houston. He was Treasurer of YPO “Young President Organisation” – Pakistan Chapter for 2002-2003 and also served on YPO Board, and chaired Communication committee. He is member Central Committee and Chairman Publication Committee of 21st Century Business & Economic Club and OUAC “Overseas University Alumni Club”, and patron of 21st Century Business & Economics Club’s Women Forum. Additionally, he is also Advisory Board member of Institute of Business Technology. Previously he was Honorary Secretary and Chairperson of Publication & Membership Committee’s of Marketing Association of Pakistan. In February 2004 he was elected President. Vice President Elect Rotary Centennial in April 2005. He is a member of Board of Governors Reflections School and President Food Association of Pakistan. He is a founder member of Pakistan Sri Lanka Business Forum and Pakistan India CEO forum.
The Packages Group Syed Family Pakistan
Worth: £230million, Industry: Businessman
The seed of this huge empire was sown by Syed Maratib Ali, 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 Ali and sons install a packaging Unit by the names of Packages. Established in 1956 as a joint venture between the Ali Group of Pakistan and Akerlund and Rausing of Sweden, Packages Limited provides premium packaging solutions for exceptional value to individuals and businesses. 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. 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.
The group owns Nestle Pakistan too which is being run by Syed Yawar Ali. Syed Babar Ali has also served as Chairman of 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 and they 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. Packages Lanka is a joint venture between Packages Limited and the Print Care Group of Sri Lanka, and DIC Pakistan a joint venture between Packages Limited and Dainippon Ink and Chemicals, Inc. of Japan.
Ghulam Hassan Khan Pakistan
Worth: £220million, Industry: Businessman
Ghulam Hassan Khan is the father of Sardar Khan Niazi who is the Chief Editor The Daily Pakistan. 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 thousands 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 Ghulam 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. Companies owned by the family today: Rafay Mall, Paradise City, SK Dubai, Gasco 2000, Mindworks Technologies, Chain of CNG stations SK Constructions , Rose Hotel, SK plaza, Chung Pa chain fast food Chinese, SKN trust and SK farms.
The Saif Group Saif Family Pakistan
Worth: £220million, Industry: Businessman
The Saifullah family is the owner of the Saif Group. This group is owned and operated by the sons of famous NWFP lady politician Begum Kalsum Saifullah. She is famous for her love of rare diamonds. Her eldest son Javid Saifullah heads 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 Khyber Pakhtunkhwa 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. They are seen as the most influential political family in Pakistan especially in the province of Khyber Pakhtunkhwa. Javaid’s brothers Anwar Saifullah Khan (Former Federal Minister), Salim Saifullah Khan who is acknowledged as a king-maker in Khyber-Pakhtunkhwa politics 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. Their business ventures include Saif Textile Mills Ltd, Kohat Textile Mills Ltd, Mediterranean Textile Company, Saif Power Ltd, Saif Energy Ltd, Saif Healthcare Ltd, Softech Systems Ltd, & Green Fuels (Private) Ltd.
Jehangir Elahi Pakistan
Worth: £220million, Industry: Businessman
Jehangir Elahi is a relative of the richest man on Pakistan. He is a 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.
Afzal & Akmal Kushi UK / Pakistan
Worth: £200million, Industry: Clothing Businesss
Started by Ch. Khushi Mohammad, who migrated to Pakistan and lived in Faisalabad. He came to UK in 1951. He began selling door to door and carried on until 1965 when he bought a grocery shop. Today the legacy of Ch. Khushi Mohammed is continued by his two sons. Afzal Khushi, 51, managing director of Jacobs & Turner, last year received a CBE for services to business in Scotland. Afzal and Akmal Khushi are directors and co-owners of Jacobs & Turner International, probably better known as TRESPASS. He and his brother, Akmal, 50, have made the £90m Glasgow sportswear firm a global business. They also have £30 million pounds of other assets. The two brothers began an import and export company in 1980 and this has proved a great success.
The company, using the Trespass brand name, now export to over 62 countries covering most of the Europe, New Zealand, Australia, Canada, America, Chile and Argentina. They have offices in Hong Kong and spend millions annually on trade fairs and exhibitions. The company also have 70 retail outlets in the UK, including one at the Braehead Shopping centre near Glasgow and more than 40 franchises worldwide. TRESPASS was awarded The UK Fashion Exports Award, formerly known as the British Apparel Export Award three years in a row. They have three large distribution warehouses and have developed a seven and a half acre site for a new distribution centre and international offices at a cost of over five Million Sterling Pounds and located near Glasgow’s city centre. Trespass also acquired the assets and trade of Nevisport Ltd in late 2007 securing the jobs of 100 employees with business continuing to operate from stores in Aberdeen, Aviemore, Edinburgh, Fort William, Glasgow, Leeds, Middlesbrough, Newcastle and York.
Noon family Pakistan
Worth: £200million, Industry: Businessman
A taxpaying feudal 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.
The Sapphire Group Mian Abdullah Pakistan
Worth: £190million, Industry: Businessman
One of the largest manufacturers and exporters of textile products in Pakistan, Sapphire technology comes from Europe, Japan and USA. 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 Capitalizing on the region's principal crop, cotton, Over 14,000 employees ,Annual turnover US $ 500 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.
Nabeel Chaudhry UK / Pakistan
Worth: £180million, Industry: Real Estate
Chaudhry says he isn’t from a particularly privileged background. His father did have a substantial stake in a business, but he died when Chowdery was just five so it was sold and the proceeds used to buy properties which secured a decent rental income.
Still, when he first began to invest in properties himself – he started buying houses for £7,000 a pop in Manchester’s Longsight district in the early 1990s while studying for a degree in accounting and finance. He says he had to carry out much of his own handiwork to save money. He worked for his brother, Aneel Musarrat’s company, Classic Homes. This was founded in 1989 and has subsequently evolved into a huge operation with a string of associate businesses. One of which has just purchased a pair of office blocks in Piccadilly Gardens for £40 million. While there, though, Chowdery felt like he was operating under his brother’s shadow and quit after just 12 months to set up Didsbury-based Property Route in 1996. Among the investments made are a city centre block containing shops and offices on Deansgate, a block on neighbouring John Dalton St containing Panacea and Restaurant Bar & Grill, St John’s Chambers’ building on St John Street and the former Manchester Stock Exchange building on Norfolk St. His best deal to date, though, was the 2004 purchase of the ‘island site’ between John Dalton Street and South King Street containing Old Colony House, 5 Ridgefield and Grange House. He says that he managed to secure the site from vendor GE Capital ahead of property giants like Prudential. “They wanted a £50,000 deposit from me to release the contract, but I told them not to bother – I could arrange for them to have the full amount by exchanging contracts within five days.” It was a tall order, and one that involved his lawyers working right through the weekend, but his ability to deliver such a major deal so quickly landed him the site and boosted his profile considerably. “Everybody in the industry got to know me as a result of that deal,” he says. It also cemented his reputation as a member of the Spice Boys’ club, a lifestyle which he seemed to enjoy. “I suppose I did used to work hard and play hard – I’d always park the Lamborghini outside a club and come back to find girls’ numbers stuck to the windscreen,” he says. However, since marrying last year he’s settled down and it’s done his business no harm. He’s now looking at offers of around £15 milllion for the 100,000 sq ft ‘island’ site and he’s just made the shortlist for Ernst & Young’s Northern Entrepreneur of the Year. “It is nice to see the dividends of your hard work, but to be honest I’m busy working on something else. If that one comes off, it will be my biggest deal by far.”
Aneel Mussarat UK / Pakistan
Worth: £180million, Industry: Real Estate
Aneel Mussarat was born in 1970 in Manchester to Pakistani parents originally belonging to Faisalabad in Pakistan but settled in Manchester. He started renting and managing his family’s property at the age of 17 years and although faced much problem with his tenants he won over these with his perseverance and consistency.
After finishing high school, Mussarat started collecting rent and managing properties owned by his family. His love for the Property Industry helped him overcome all the hurdles that he experienced initially and taste success as an entrepreneur at an early age.
He founded a Private Limited Company named “Classic Homes" and it helped to expand his business beyond the embryonic phase into both commercial and residential sectors. His primary goal was to buy, renovate and develop student accommodation in Liverpool along with making property investments in properties located in Dubai, Europe and in the USA.
Mussarat, 40, is picking up bargains. The Manchester developer bought a portfolio of office and industrial sites for £33m in March. They were on the market last year for £38m. His parent company, MCR Property Group, has a £500m portfolio. Property Millionaire Aneel Mussarat is counted amongst the richest people in the UK. He is the founder of MCR Property Group that deals with both commercial and residential property.
He is not only a top ranking real estate entrepreneur but also a person with wonderful PR skills maintaining sound business relations with his stakeholders. Besides his real estate business, Aneel Mussarat is also famously involved in the entertainment industry working as a producer for Bollywood movies. He has a wonderful set of contacts in the top rung of the business and political worlds of the UK, this being the reason he has been able to host and finance the All Parties Conference held by the former Prime Minister of Pakistan Nawaj Sharif bringing all the major political parties of Pakistan onto one platform.
Although Aneel Mussarat is highly praised for his hard working nature and commitment, his critics have connected the source of his financial turnouts to the political turbulence of Pakistan. However, Mussarat has protested against such claims and explained his funding on top-class companies like HBOS, Britannia Building Society, Nationwide, Alliance & Leicester and Bank of Ireland.
Nazir Family Pakistan
Worth: £170million, Industry: Businessman
One of Faislalabad’s most prominent families is the Haji Nair family. They have made a mark in business circles in Pakistan. Their main strength is in the textile business. They own Masoos textiles, Mahmood Textiles, Asim Textiles. They also have diversified their business as they own many power generation plants.
They are very much a political family. Son of Mr Nazir, Shahid Nazir is an active and a prominent politician in Punjab province of Pakistan. They have favoured many politicians in their election campaign.
Shahzad Group Shahzad Family Pakistan
Worth: £170million, 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.
Inter Equipment Zafar Iqbal Khwaja Pakistan
Worth: £150million, 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.
Chaudhry Brethern Pakistan
Worth: £150million, Industry: Businessman
Chaudhry Manzur Elahi, father of Chaudhry Parvez Elahi is the elder brother of late Chaudhry Zahur Elahi raised in Gujrat; Chaudry Manzur Elahi left his hometown in 1939 to pursue further studies. He received his degree in textile engineering from Amritsar in 1940. Upon his return from Amritsar, Chaudry Manzur Elahi teamed up with his brother to develop their textile business. His family is commonly referred to as Chaudhrys of Gujrat and they were born into a Waraich family of Jats. In 1947-48, he established two textile units under the names of Gujrat Silk Mills and Pakistan Textile Mills. In 1950, the business was expanded to Lahore where they established Parvez Textile Mills, specializing in weaving, finishing and dyeing. In 1951-52, Chaudhry Manzur Elahi went to Japan to import textile machinery for his Gujrat and Lahore units. Armed with his textile education and superior business ethics, Chaudry Manzur Elahi’s textile units continued to flourish under his leadership. The family continued to dedicate their energies to their business and set up Modern Flour Mills in Lahore and Rawalpindi.
Today, this family is one of the wealthiest politicians in Pakistan. They are highly influential in Pakistani politics. The sons of Chaudhry Manzur Elahi and Chaudhry Zahur Elahi are representing Pakistan Muslim League (Quad-e-Azam).
In the elections of 2002, their party won and Pervaiz Elahi was elected for a sixth consecutive term from two constituencies - PP-110 (Gujrat) and PP-292 (Rahim Yar Khan). On November 29, 2002, he was inducted as the Chief Minister of Punjab, serving until November 22, 2007, when the five-year mandate ended for the provincial assembly of Punjab. He is also the President of his political party, Pakistan Muslim League (Q) in Punjab. On 24 July 2006 he was elected, second time unopposed, the President of the PML for next three years.
His cousin and brother-in-law Chaudhry Shujaat Hussain served as the Prime Minister of Pakistan from May to August 2004. He was the parliamentary leader of the ruling PML (Q) party during the period 2002-2007. He is also the Punjab President of PML-Q and was leader of the opposition in the National Assembly,
Saddiq & Sons Pakistan
Worth: £140million, 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, they have invested huge amounts in prime properties around Pakistan.
The Dadabhoy Group Ghani Family Pakistan
Worth: £140million, Industry: Businessman
Abdul Ghani Dadabhoy was the founder of Dadabhoy group, starting in trade and branching off into the construction business. The group has a big share of cement market in Southern Pakistan. Memons by clan, Dadabhoys are closely related to the Bawanies. Abdul Ghani Dadabhoy had five sons and two daughters, namely Noor Mohammad Dadabhoy, Mohammad Farooq Dadabhoy, Mohammad Hussain Dadabhoy, Abdullah Hussain Dada Bhoy and Ghulam Mohammad Dadabhoy. Daughters are Mrs MehrunisaJaffer and Mrs Zaibunisa Tanveer. This Group has massive investments in cement, energy, construction, leasing, polyester, banking and insurance etc. Dadabhoys are seasoned campaigners and perhaps do not like being brought into any sort of reckoning like the Habibs. Despite being a formidable business entity, this family is deemed to be extremely reluctant throughout its history, when it comes to flashing headlines, but mind you these unassuming Dadabhoys are still news-worthy. Any good day, you might hear them doing something new. Stock pundits know a lot more about their past stints at the country’s bourses.
HASSAN AHMED USA / Pakistan
Worth: £130million, Industry: Telecommunication
As President and Chief Executive Officer, Hassan Ahmed is responsible for the strategic direction and management of the company. Prior to joining Sonus in 1998, Dr. Ahmed was Executive Vice President and General Manager of Ascend Communications' Core Systems Division, which grew under his direction to a $1 billion business. Before Ascend's acquisition of Cascade Communications, he served as Cascade's Chief Technology Officer. Previously, Dr. Ahmed was President and Founder of WaveAccess, a pioneer in high-speed wireless network products. Additionally, he has held the positions of Product Engineering Manager, Analog Devices, and Director, VSLI Systems, Motorola Codex. He was also an Associate Professor at the Graduate School of Management, Boston University. Dr. Ahmed holds a BSEE and MSAE from Carleton University and a Ph.D. in Electrical Engineering from Stanford University.
Hassan Ahmed, speaking at the OPEN-US Group’s [Pakistan entrepreneurs Boston Chapter] meeting in September 2000 spoke about his experiences as an enterpreneur. His major points were that one should aim really big, which is the only way to succeed against the existing giants such as CISCO, Lucent. He said that that is what enabled their team at Sonus to produce a world class ESS Class 4 Voice over IP telephone switch which was five times smaller than an equivalent switch from Lucent.
In terms of team building Hassan emphasized that a good strong company is possible when each member is plug compatible with each other and able to back-up each other in terms of technology expertise and marketing and other skills needed in starting-up a new company.
A qualified pilot , he piloted the Company Plane when all other US Airlines were grounded due to weather conditions during their Marketing pre-IPO tour of the US Cities in 2000. The passengers on board were the Sonus team and the Goldman Sachs team members.
Younis Brothers Pakistan
Worth: £120million, Industry: Businessman
The Chairman of this group is Abdul Razzak Tabba. This group owns one of the largest warehouses (textile products) in Pakistan. Yunis 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. The concerns falling under the ambit of the Younis Brothers are Fazal Textiles, Gadoon Textiles, Lucky Cement, Lucky Energy, Lucky Power-Tech, Lucky Textiles, Younis 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.
Abdul Razzak Tabba is quite a philanthropist too and he 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.
Safi Qureshi USA / Pakistan
Worth: £120million, Industry: IT / Software
Born in Karachi in early 1950’s , Safi Qureshi came to the U.S. in 1971 for education in engineering and worked in the Information technology industries of California for companies such as Documenter, Computer Automation, and Telfile Computer.
In 1980 he co-founded a garage-based company making personal computers. As a computer industry veteran Safi played a lead role in not only AST’s growth in emerging markets but in changing the PC industry from a narrow corporate enterprise into a global business. Due to Safi’s intense focus , vision [ that of evolving the digital age as a platform to develop tools that will further promote global & personal communication in all societies.], and passion for innovation AST earned a reputation in the PC industry as one of the foremost brand names. It was recently acquired in the mid 1990’s by Samsung Electronics.
Through his involvement with executives from the high-tech community, UCI and a close relationship with venture capitalists, Mr. Qureshi is active in encouraging entrepreneurship in Southern California. Mr. Qureshi primarily works with companies in the technology space. He is involved in helping companies with strategic growth, mentoring, international expansion, and product direction. Qureshi is an active Board Member in selected companies and an investor in others.
His brainchild is the ALIF [the first letter of the Hebrew, Arabic and Urdu alphabet] which is a televised series in the Urdu language of the Sesame Street series for Pakistan Television broadcast to the children in Pakistan. The programme has been broadcast from mid 1999 to 2000.
In his most recent project, Safi Qureshi is helping Pakistan with Information Technology efforts in becoming a major exporter of Software. He took with him in March 2001 two fellow members Kanwal Rekhi [who sold his company Excelan to Novell] and Dr. Kailash Joshi -- of the The Indus Entrepreneurs Group from San Jose, California to meet the President of Pakistan and also the dynamic Minister for Science & Technology - Dr Ata-ur-Rehman. Later they also visited and had an interactive session at the Institute of Business Administration at Karachi.
Kasim Dada Pakistan
Worth: £110million, Industry: Businessman
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. Had his assets not been nationalised by Bhutto he would definitely had the status many richest men in the world enjoy today.
Mohammad Khan, President and Founder USA / Pakistan
Worth: £100million, Industry: Businessman
Mohammad Khan is the President and Founder of ViVOtech – Khan is a recognized leader in the emerging mobile payments and marketing industry with 27 years of experience in electronic payments and ecommerce. Prior to starting ViVOtech in 2001, Khan spent 15 years at VeriFone starting in its early stage in 1983 when it had only 5 employees. Khan held several management positions at VeriFone and helped the company develop its payment automation systems and later helped successfully market these products in 96 countries. Mr. Khan was also a co-founder of the Internet Commerce business for VeriFone – a leading reason for the acquisition of the company by HP in 1997 for $1.2 billion. Mohammad Khan, sometimes referred as Mr. Contactless or Mobile Czar, has been recognized as a leader of the Electronic Payments Industry by the Transaction Trends Magazine and as a “Mover and Shaker” of the Electronic Payments Industry by the Transaction World magazine.
Recently, Khan received 2010 Outstanding Contributor Award for his contributions to Contactless and Mobile Payments Council by Smart Card Alliance. Khan holds a master's degree in electrical engineering from the University of Hawaii at Manoa.
ViVOtech is a company which produces software and hardware for the Near Field Communication (NFC) mobile payment and promotion market. Founded in 2001, it is based out of Santa Clara, California. The company develops and produces technology designed to enable consumers to download their credit, debit, loyalty or prepaid cards as well as personalized coupons and location-based promotions to NFC mobile phones and use it to pay by just waving the phone at point of sale systems enabled with radio frequency contactless readers.
ViVOtech's products are used for contactless credit/debit cards, mobile phones, and key fobs payments in business such as retail stores and gas stations to vending machines and taxi cabs. ViVOtech's products have been put to use in 33 countries. ViVOtech has worked in collaboration with corporations such as Bank of America, MasterCard, Discover, Citibank, VISA, Chase, Sprint, AT&T, SingTel and Sony.
Safi Qureshi Dubai / UK / Pakistan
Worth: £100 million Source : Real Estate
Qurashi, 41, the son of a Pakistan-born travel agent, was a successful businessman in London, developing one of the first internet cafes in Soho. In 2004 he moved to Dubai, where he flourished, friends say. Four years later, his company, Premier Real Estate Bureau, turned over £400m and employed 80 staff. But he was jailed in a fraud case in 2010. Finally, after two years of fighting against the case he was freed on bail without any charges.
He came to international prominence after buying the island in 2008. In an interview for the ITV show Piers Morgan On Dubai, he told the journalist that he planned to build a glitzy resort that would be a homage to his home city. "I am proud of my British heritage and not a day goes past when I don't miss London. It's home at the end of the day and who doesn't miss home?" he said.
Qurashi formally launched Q Properties in 2012, the first of four companies which will be part of an umbrella holding company to be called the Q Group of Companies.
“The first company is now registered and done, which is Q Properties, which launches on Thursday… There are four companies in total, one is real estate; one is development; one is an investment arm and a facilities management company. They will come under a new branded company called Q Group. We are waiting for the licences to come through in the next week or so,” he said.
Q Properties is looking to develop its first project, which will be a series of villas in Jumeirah Village Circle. “We are working to finalise that project, Total project costs are close to AED50m (US$13.4m),” he confirmed. In addition, Qurashi revealed Q Group plans to launch a number of investment funds and a REIT (Real Estate Investment Trust), which will have a total capital of around US$200m.
“We are launching two real estate funds under the banner of Q Investment… At this stage the real estate fund is aimed at four projects we have got, then, depending what comes onto our table… We also looking at launching a REIT aimed at a US$100m and the fund will be a similar amount,” he said.
[B]Ishaq Dar & Sons
Dubai / Pakistan Worth: £100 million pounD Source: Politics (corruption) & Money Laundry / Financial & Consultancy Services, & Real Estate
HDS Tower in Cluster F of Jumeirah Lakes Tower is only one of the 34 story buildings that belong to the mighty HDS Group. The News Tribe learnt that several other buildings in Jumeirah Lakes Towers, Business Bay and International City, like the HDS Sunstar Towers, are also owned by the millionaire brothers, surprisingly Pakistanis. HDS Group is owned by Ali Dar and Hasnain Dar, the sons of former finance minister of Pakistan, Senator Ishaq Dar. It’s worth mentioning here that the elder son Ali Dar is also the son-in-law of Pakistan Muslim League’s leader Mian Mohammad Nawaz Sharif. Apart from several real estate ventures, The HDS Group also launched HDS Rent a Car, JLT a month back in July 2012. The uniqueness of the car rental company lies in its array of niche car manufacturers and models of cars unavailable to the market. HDS Rent a Car owns the 2012 Lamborghini Aventador LP700-4, Mercedes Benz SLS 63 AMG Gullwing, apart from the more economy cars such as Peugeots and Renaults. Some of the many exotic, luxury and SUVs in the lineup are the the Ferrari Berlinetta F12 and the McLaren F1, and you can do the numbers yourself. The owners from a ‘poor and starving’ country Pakistan, where the average monthly income for an individual is $41, are offering such exotic services in Dubai, which even the local Emiratis fail to afford. One must ask himself / herself that how a politician can justify a single legitimate transaction from Pakistan to any part of the world who has given statement in written against his own party chief. “Where are these politicians getting the money from?” asked a frustrated Pakistani in Dubai, who came to know that the building he lived in is owned by Ali and Hasnain Dar’s HDS Group.“If they have billions of dollars and so much money, why is it not in Pakistan? These politicians talk about the welfare of Pakistani people, but all they can think about is themselves"
Senator of Muslim League N Mr Ishaq Dar had done marriage of his son in Costliest Hotel of Dubai that is one of the most famous and Expensive Hotel of The World. Ishaq Dar spent more than Half Million Dollar on the marriage of his son which is equal to 45 Lakh Pakistani Rupees. Pakistani Pubic is dying with Floods and Looking for Food and our Politicians are Spending Millions of Their Marriages
Baraq Holdings Limited is ably steered by Mr. Mohammad Ishaq Dar, Mr. Helal M. Al Zarooni, Mr. Nasir Ahmed Mehmood and Mr. Ali Mustafa Dar. This company does not just deal in property development; Baraq also provides financial consultancy services.
Afzal Kahn UK/ Pakistan
Worth £100 million, Industry: Automobile
A booming Bradford automotive company which moved into glitzy £2 million premises just two months ago is expanding so rapidly it has already outgrown its new home.
Maybe this has something to do with the fact that, in just a year, the firm has increased the number of countries to which it exports from seven to 45. And the fact that having secured deals with some of the world's top car-makers, it is now an accepted international leader in the production of prestige alloy wheels. Auto Design Technics was started by Afzal Kahn from modest premises in Thornton Road in the late 1980s. But its phenomenal growth has followed the formation of three other companies. The original ADT carved a thriving business designing and selling head-turning wheels for discerning motorists. Its reputation grew.
In the mid-90s came Kahn Design with a mission to become the Rolls Royce of wheel-makers. It seems to have achieved that goal and sells up to 40,000 wheels a year around the globe. The firm has established close links with many of the world's top manufacturers such as Bentley, Aston Martin, Marcos, Jaguar and MG Rover in the UK. Abroad, there are associations with the cream of supercar manufacturers such as Ferrari, Lamborghini, Porsche and Mercedes. The firm is rapidly breaking into new markets every month - even the tough German scene which insists that all wheels sold are tested to destruction.Running alongside these ventures has been another thriving niche business, V12 cars, specialising in selling the world's most prestigious and desirable vehicles. And out of all this grew the most recent enterprise, Project Kahn, a specialised business set up to transform Range Rovers into the sort of luxury vehicle the Sultan of Brunei would deign to be seen in. Taking a standard Range Rover, Project Kahn transforms it into a distinctive rich person's recreational vehicle by adding gleaming alloy wheels, special paintwork, leather trim, lowered suspension and a DVD player in the back. Kahn Design launches soon in the United States and expectations are high that this will create another exponential leap in turnover. Turkey and Thailand were recently added to the list. Australia and New Zealand are up and running. Brazil launches in September.
Project Kahn is a design based automotive company led by creative visionary: Afzal Kahn. Breathtaking individually tailored automobiles await those who will not submit to a life of uniformity only accepting perfection and dedication. Premier League stars including: Peter Crouch, Michael Ball, Sam Allardyce, Dickson Etuhu and entire Chelsea squad have cars and alloy wheels which were designed at Project Kahn. Various celebs are also jumping on the bandwagon - Arnold Schwarzenegger - the ex-governor of California famous for starring in the Terminator movies has also ordered a car from Project Kahn.
Afzal Kahn's story is reminiscent of a rags to riches story that any Hollywood producer would not shy away from. Very few people actually know that Afzal, the son of Pakistani Immigrants actually sold eggs door to door at the tender age of 14: "When I was walking around selling eggs I used to look at car dealerships and I just knew deep down that I could totally re-invent the automotive industry," says Afzal. "I always have had a passion for cars. 18 years ago I decided to go ahead and I started in the wheel industry. I was based in a small shack where I sold other manufacturers wheels. I did that for 10 years and then established Kahn Design. I built it up very quickly and I started producing my own car accessories, exhausts and body kits." The only thing that kept Afzal sane during those difficult times was his faith. It was his belief in the almighty that cemented his unrelenting self belief in his mission to establish himself as a force in the automotive industry: "I worked for free in a plastic moulding factory in order to get some experience of the manufacturing industry."Although the hours were very long and tiring, I gained alot of experience and it held me in good stead. The experience was vital given that I was working for free; I was taught these values from my parents who instilled a religious and hard working ethic into me.
"I actually come from a very under-privileged background and I remember I used to go to school in wellington boots."Although Allah has given me so much; I have never forgotten my roots and I remember the hard times and what Allah has given me and Insha -Allah, the almighty will keep my feet on the ground. "I work for many hours during the day and I also have time for my son Rahail who is a chip of the old block as they say. I make sure he comes to see me after school and we will have something to eat. " will also make sure that he goes to mosque and ensure he grows up in a secure and safe environment, Insha -Allah." In 1996, Afzal launched Kahn Design's first set of wheels. However, what held him back was the quality of manufacturing in the UK: "The quality here in England was inadequate. " went to manufacturers all over the country and I couldn't find any good ones so I went all over the world to find a good manufacturer. Eventually I settled on an Italian manufacturer. I had finally found the quality and production capabilities to manufacture exactly what I wanted."
In 1996 Afzal launched the Rs-R and the RS-S alloy wheels - two completely new and innovative set of wheels that took the world by storm: "I was the first manufacturer to design a wheel with a spoke that ran to the very edge of the rim. This particular style is one of the most replicated styles in the world. From the UK to the Middle East and America, you will see them at car shows, movies and absolutely every where you can imagine. It was good to see that all those hours of hard work had finally paid off." In 2001 he set up V12 Power Ltd. This particular company is one of the most prestigious bespoke vehicle specialists in the UK. However, they were still standard manufactured vehicles.
Project Kahn is now the most successful automotive design house in the UK and is very rapidly expanding at an astonishing rate throughout the world. Coupled with a property portfolio company by the name of Kahn Landmark, Afzal now has a buying power of over £75 million with properties worldwide. This is the first Kahn fashion brand but expect more in the future with the launch of the Kahn Lifestyle' brand.
Afzal has a collection of number plates. He made international headlines in January 2008, with the purchase of the "F1" number plate for £375,000 (plus VAT and fees). He currently has the F1 number plate fitted to one of his two Bugatti Veyrons. In 2010 he was reported to have turned down a £5million offer for the registration number.
Shaf Rasul UK / Pakistan
Worth: £82million, Industry: Real Estate / Computers
Rasul, 38, has joined the online version of the hit television series Dragons’ Den, which will raise the profile of the Lahore-born entrepreneur. The son of a newsagent, who recently ploughed £250,000 into Internet Aquatics, an Edinburgh-based exotic fish supply startup, created E-net Computers, a distributor of optical media, in 1999; in 2007-08, sales at the company came in at £24.9m. In 2006, as one of his first forays into Scottish property schemes, Rasul bought the former Martin & Frost building in Edinburgh, which he plans to turn into the country’s most high-tech apartments to date. He also has an industrial-estate venture in Linlithgow called E-Net Park. In all, with his property interests and other businesses, which include a sister company to E-Net Computers in Dubai.
By 1999 Shaf Rasul was already a self-made multi-millionaire with an extensive investment portfolio that would allow him to take it easy for the rest of his life. Maybe the time had come for the one of Scotland’s most successful entrepreneurs to slow down and set-up a comfortable lifestyle business that would allow him to pursue other interests like business mentoring and philanthropy. It was at that time Rasul – who was recently named as one of two new Dragons in an online version of the BBC’s Dragons Den - established E-Net Computers.
Ten years on the business is now the largest storage media distributor in Europe and one the biggest buyers of optical storage products in the world. The business has developed partnerships with the world’s top optical media manufacturers and has retained supply agreements with a wide portfolio of web-stores and high-street retail chains. A global import/export hub in Dubai and a £5million distribution centre at Edinburgh Airport have also been established to support the growth of the business which recorded peak sales of £67.2million during 2004-05. As well as masterminding the growth of E-Net Computers, Rasul has also developed a venture capital investment portfolio which focuses on property, asset management and internet technology.
In 2006 Ernst and Young Scottish Young Entrepreneur of the Year and was ranked 19th in a Management Today 2008 survey of the UK’s top 100 entrepreneurs. He has also been included in the Asian 100, a list of the most successful members of the British Asian community.
Nazim Khan AKA James Caan UK / Pakistan
Worth: £80million, Industry: Businessman
James caan(formerly Nazim Khan; born 28 December 1960) is a British Pakistani investor, entrepreneur, television personality, and philanthropist. He is the founder and CEO of Hamilton Bradshaw, a UK-based but Virgin Island owned private equity company. Caan lives in London with his wife, Aisha Caan, and two daughters Hanah Caan and Jemma-Lia Caan.
James Caan was born in Lahore, Pakistan. His father was Abdul Rashid Khan, a leather worker; he was born into a household of three brothers and three sisters. His father brought the family to the East End of London in 1962. The family settled in a home just off Brick Lane, and Abdul started a business making leather jackets.
In his youth, Caan worked for his father, but he left school without qualifications at the age of 16, and left home shortly afterwards to pursue his ambitions of founding a business. He says his father took a while to offer his full support.
Caan got his first job in the recruitment industry at the age of 18, when he joined Holborn-based Premier Personnel as a trainee interviewer. Within the year he moved to the larger City Centre Staff Bureau as a branch manager, before being headhunted by Alfred Marks, where he became manager of their Oxford Street branch. Finally, Caan settled down in the recruitment department of Reid Trevena, an incentive-driven financial services company.
In 1985, after several years investing in his wife's chain of boutiques, Caan decided to found his own recruitment company, Alexander Mann. In 1992, he appointed Jonathan Wright to run the business and stepped back to develop other business interests. In 1999, he sold a minority stake in Alexander Mann Group for £25m. The business was then valued at £60m by Advent International. In 2002, he sold his majority stake for an unknown amount. At the time Alexander Mann was turning over £130m a year and operating across Australia, Europe, and Asia.
In 1993, Caan co-founded executive headhunting firm Humana International with Doug Bugie, eventually growing the business to over 147 offices in 30 countries, and launched the trade magazine Recruitment International, with David Head. In 1996, he set up business process outsourcing company Alexander Mann Solutions with Rosaleen Blair. Caan sold Humana International to CDI International in 1999, his stake in Recruitment International to co-founder and editor David Head in 2000, and Alexander Mann Solutions in 2002. In 2003, Caan set up London-based Hamilton Bradshaw, a mid-market private equity company. The Company’s portfolio contains firms in all sectors of industry, although it lists its interests as buyouts, development capital, and turnarounds. In 2006 it bought sandwich shop chain Benjys, which collapsed 9months later into liquidation in 2007 it bought public and private sector recruitment specialist Eden Brown with revenues at over £180m. The company has already increased profits by 70% through a combination of investment and greater efficiency in the first six months of ownership. At present, Hamilton Bradshaw manages 41 companies, with a combined yearly turnover of £400m, and a real estate portfolio valued at £35m. On December 1 2009, James Caan was invited to become the Chairman of The Big Issue Magazine. A move that is hoped to inject the magazine with some entrepreneurial expertise, particularly with a view to bring it into the digital age and launching it in Pakistan.
Caan operates his own charity, the James Caan Foundation, which lends aid to the needy in the UK and Pakistan. Caan’s current and past schemes have focussed on helping disadvantaged children get a quality education. Caan is a member of the Prince's Trust Enterprise Team, he actively supported the NSPCC Full Stop charity campaign, and he adopted a school on behalf of the Care Foundation.
Caan originally visited Pakistan on a humanitarian aid trip in 2005, when he built his first independent school in partnership with The Citizens Foundation (TCF) in Lahore. The school currently educates 420 disadvantaged children between the ages of 5 and 11 for free. The Foundation continues to fund the institution and operates a teacher training programme in its premises. Caan has been working with The Prince’s Trust for several years, supporting them as an ‘Enterprise Fellow’. This involves acting as a role model for younger generations, attending fund-raising events and galas, and involvement in projects which provide support to those with disadvantaged backgrounds. Caan is a senior advisor to Marie Curie Cancer Care. Caan is also supporting their Daffodil Schools Challenge – Marie Curie Cancer Care’s new active citizenship project.
I was called Nazim Khan, and it suddenly struck me that I could spell my surname in a different way. I mentioned this to my friends and they started calling me James Caan as a joke. Then I had some business cards printed with my 'new' name on for fun and somehow the name stuck. Presenting me as James Caan was a great opener with potential clients, so I used it all the time, eventually changing my name by deed poll some years later, much to my father's disapproval.
Tahir Mohsan UK / UAE / Pakistan
Worth: £80million, Industry: Businessman
Tahir Mohsan is the founder of the TIME brand and currently manages several investment companies from his base in Dubai.
TIME Computers was set up by Tahir Mohsan and his half-brother, Dr Tariq Mohammed, in 1987 with an investment of just £1,000. At that time ohsan was aged just 16. This later diversified into many businesses. He was later joined by his younger brothers Zia Mohsan and Zuber Mohsan who both joined after school aged 16, At the age of 33 he moved to Dubai in 2002, to set up Time Group Middle East after selling the UK hardware sales operations (Granville Technology Group) to the management team led by Group MD Brian Lynn and Keiran Crowley.
Following its takeover of rival Tiny in 2002, the £207m-turnover UK operation (owned by Granville Technology) had a national chain of over 300 retail stores that traded under the Computer Shop brand. However, the Granville technology group under the leasdership of Brian Lynn faced difficulties in 2005 and went into administration in July 2005. Subsequent to its Administration, Granville lost the TIME licence for the UK which was acquired by Time UK.
Time Group continues in the UK, Middle East and the Far East, supplying computers, notebooks, plasma screens and TFT screens around the world.
Mohsan also owns the UK's 5th largest Internet service provider Supanet. Currently under the control of Zuber Mohsan who is the companies managing director the Mohans family investment companies have interests in the IT and property industries across Europe, the Middle East and Asia. These range from hardware manufacturing and sales to Internet services, software development and Voice over IP technology company Tpad. Zuber Mohsan joined his brother in Dubai in 2007
He has just acquired the Evesham Technology Group, currently the UK's largest PC and flat-screen manufacturer, but has come under criticism for cutting back production from the Evesham factory and moving it to Time UK's factory in Burnley, resulting is many job losses.
Abdul Bhati UK / Pakistan
Worth: £75million, 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 £150m as well as other assets.
After spending a considerable period of time as a retailer, Mr. Bhatti started his career with the Company working alongside Sir Anwar and Mr Chaudhary at our first depot in Acton.
He later moved to the Southall depot where he established a thriving business. Mr Bhatti joined the Central Buying Office at Head Office in 1996.
He is a Director of Bestway (Holdings) Limited, & its subsidiaries & Bestway Northern. He is a Trustee of the Bestway Foundation in both the UK and Pakistan
Adalat Chaudhary UK / Pakistan
Worth: £75million, Industry: Businessman
Mr Chaudhary is one of the pioneers of the Bestway Group. After spending a considerable period of time as a retailer, he began his career with the company as General Manager of our first depot in Acton. He later moved to the Abbey Road depot, which is the largest cash & carry warehouse in Europe. In 1994, Mr Chaudhary was responsible for setting up the successful Central Ordering Department at head office.
He is a Director of Bestway (Holdings) Limited, & its subsidiaries & Bestway Northern. He is a Trustee of the Bestway Foundation in both the UK and Pakistan.
Younis Sheikh UK /Pakistan
Worth: £75million, Industry: Businessman
Younus is a science graduate and has a Diploma in Leather Manufacturing. He joined the Group at its inception in 1968. He was a founding director and key member of the team that was involved in setting up the cash & carry business in 1976. Having risen through the ranks, he moved to the head office in 1985 as Trading Director. He was responsible for setting up the successful Central Buying Office. Following the Board reshuffle in July 2004 he was appointed Managing Director of Cash & Carry Businesses. He is a Director of Bestway (Holdings) Limited, & its subsidiaries & Bestway Northern. He is a Council Member of the Federation of Wholesale Distributors and is a Trustee of Bestway Foundation UK and Pakistan.
Chaudrey Zameer UK / Pakistan
Worth: £75million, Industry: Businessman
Zameer graduated from the University of Kent at Canterbury and is a Chartered Accountant by profession. He joined Bestway as Financial Controller in 1984 and was promoted to the Board as Finance Director in 1990.
In 1995 he initiated the Group's international business diversification strategy and was appointed Chief Executive of Bestway Cement. In October 2002 Zameer successfully led Bestway's acquisition of United Bank Limited. He now serves as a Director of UBL and Chairman of the Board Audit Committee. Zameer is also a member of the Human Resource & Compensation Committee. He is also a Director of UBL Insurers. In recognition of his efforts Zameer was promoted to Group Chief Executive in July 2004. In January 2005 he successfully spearheaded the £ 100 million acquisition of Batleys Limited. Under his stewardship, Bestway's cement manufacturing operations have blossomed to become the 2nd largest in Pakistan with a capacity of 5.4 million tonnes per annum.
He is a member of the Institute of Chartered Accountants of England & Wales and the Institute of Directors. Zameer has also been a member of the Economic Affairs Committee of the Confederation of British Industry from 2004 to 2008. Zameer is a Trustee of Bestway Foundation UK and Chairman of Bestway Foundation Pakistan. He has recently joined the Board of Trustees of Crimestoppers UK and Caravan. He served as a Governor of John Kelly Schools (Crest Acadamies) in North West London from 1992 to 2002.
Humayun Akhtar Khan & family Pakistan
Worth: £75million, Industry: Businessman / Politics
Humayun Akhtar Khan (born April 1, 1955) is a Pakistani politician. He served as the Commerce Minister from 2002-2007 and as the Investments Minister from 1997-1999. He is also the Senior Vice-President of the Pakistan Muslim League (Q) (PML-Q). His brothers are some of the biggest industrialists in Pakistan and collectively own Riaz Bottlers Ltd., Tandniawala Sugar Mills, and Superior Textile Mills. Humayun is married and has three children.
Humayun and his brothers worked in Canada and the United States. Humayun was in Canada and worked for the Morneau Sobeca Income Fund Company as an Actuary. The brothers decided to return to Pakistan to start their business career and carry their fathers name via politics. Humayun chose to enter politics while his brothers would use their experience in foreign jobs to manage businesses. On their return, the brothers bought out the Lahore franchise of Pepsi Cola Ltd. They have taken it from bankruptcy to an exemplary business which has now become the stand-out Pepsi franchise in all of Pakistan. His brother Akbar Akhtar Khan has a master’s degree in Business Administration, his younger brother Haroon Akhtar Khan is an Actuary, and his youngest brother Ghazi Akhtar Khan is a Chartered Accountant from Canada. They own three textile mills and a sugar mill.
Mo Chaudhry UK / Pakistan
Worth: £70million, Industry: Businessman
He shared his childhood home with livestock in a village which had no electricity. The entrepreneur, 48, is a real-life Slumdog Millionaire. Mo started life in a similar, humble background near Rawalpindi, in rural Pakistan, before moving with his family to Britain. At the age of eight he took his first journey, along with his parents and older brother, to Britain. He made his money in financial services and high-profile ventures which included taking over a failing waterpark in Stoke and turning it into a huge attraction. The man behind WaterWorld appeared on Channel 4's The Secret Millionaire, where he dished out money to worthy causes - and this was on top of the work he regularly does for charity.
Azeem Ibrahim UK / Pakistan
Worth: £50million, Industry: Businessman
Glasgow-born Ibrahim, 31, set up the European Commerce and Mercantile Bank in 2004 and owns a maritime insurance firm, together worth £50m. He has other assets.
Glasgow-born Azeem Ibrahim has been described by his peers as a brilliant young scholar, financial wizard and gifted entrepreneur. A self-made multi-millionaire and one of the wealthiest young people in the UK, Azeem was inaugurated onto The Sunday Times Scots’ Rich List at the age of just 31, with an estimated fortune of US$106m.
In 2007, Azeem became the youngest member of the Bank of Scotland Asian Power 100 produced by Carter Anderson, who described him as one of the most influential and highest-achieving people in Britain. The same year Azeem was included in the Observer Courvoisier Future 500 – a definitive list of the nation’s most forward-thinking and brightest young innovators.
In December 2007, a Scottish Parliament motion signed by a number of MSPs congratulated Azeem and his contribution to the country and in April 2008 Azeem accepted the Lloyds TSB and KPMG Business and Commerce Excellence Jewel Award.
His achievements have attracted considerable recognition around the globe and over the last few years Azeem has met and advised a number of world leaders, including the Prime Minister of Turkey and leaders in the Gulf States.
It seems that a Scot of Pakistani origin is a multi-millionaire, and has brains too. Azeem spends on his time thinking of ways to help the poor. Apparently the Pakistani government with the support of the US has approached Mr. Ibrahim to assist Pakistan in some long term planning, and short term relief for Pakistan after the devastating floods.
Nabeel Gareeb USA / Pakistan
Worth: £50million, Industry: Businessman
Pakistani origin "Nabeel Gareeb" was appointed President and Chief Executive Officer and a member of the Board of Directors of MEMC in 30 April 2002. Under his leadership, MEMC Electronic Materials Inc is successfully implementing a business strategy to reclaim an industry leadership position, with a balance of profits, market share, and technology. Gareeb emigrated to US from Pakistan more than 25 years ago. Nabeel holds a Master of Science degree in engineering management, and a Bachelor of Science degree in electrical / electronics engineering.
As per a list compiled by Forbes Nabeel have made to the league of young CEOs with fattest pay package in the US, list is published in the online edition of the US business magazine, has been topped by a person of Pakistani origin Nabeel Gareeb who is just 43 years old. He also listed himself in the top 25 highest paid men. Forbes reported him "The 43 year old executive ranks 1 within Semiconductors".
Maqbool Rasul Scotland / Pakistan
Worth : £50million, Business: Properties / Rent VideosMr Rasul arrived in the UK from his home town of Jagrawan Faisalabad in Pakistan in 1964 and gained a university degree in Civil Engineering with Honours from Paisley College of Technology (now known as the University of West of Scotland) in 1976. After working in the engineering field for 2 months Rasul realised that it wasn’t for him & started his own business opening grocery shops. The shops proved successful and being the entrepreneur that he is Mr Rasul decided to dedicate part of these stores to movie rental. By 1987 Mr Rasul seized the opportunity and sold his grocery stores and concentrated solely on Global Video. Through his hard work and dedication the business went from strength to strength and at its peak Rasul had 268 stores employing over 1400 staff throughout Scotland, England and Wales. Mr Rasul knew that there was a finite period of time for the movie rental market and concentrated all his efforts in being as successful as possible with Global Video as well as preparing for the future. Rasul and his family now own and manage a very large and diverse portfolio of properties in prime locations in the UK and abroad along with many other personal investments in other sectors.
Johngir & Babbar Saddiq UK / Pakistan
Worth: £25million, Industry: Food
Johngir and Babbar Saddiq, brothers run Big John’s food company, which includes 15 fish-and-chip shops in Birmingham.
Nasir Awan UK / Pakistan
Worth: £25million, Industry: Wholesale Distributer
Awan marketing was established in 1976 by the late founder Mr N.A Awan as a small retail business in Birmingham.
Mumtaz Khan Akbar UK / Pakistan
Worth: £25million, Industry: Restaurants / Food
Mumtaz Khan Akbar is founder and owner of the Mumtaz brand. He was born in Azad Kashmir on February 10, 1959 and joined his family in Britain in 1972.
Tariq Farid USA / Pakistan
Worth: £25million, Industry: Food
Tariq Farid was born near Lahore, Pakistan, in 1969, the oldest of six children of Ghulam and Salma Farid. His father immigrated to the United States in the 1970s, working in Connecticut as a machinist. Tariq Farid arrived in the United States with the rest of the family in 1981, when he was 11 years old.
Tariq Farid is founder, President and Chief Executive Officer of Edible Arrangements International, Inc. (“EAI”), the industry leader in providing high quality, artistically designed fresh fruit arrangements. Tariq is responsible for setting the company’s strategic direction and for the licensing of new franchises across the United States and internationally.
Mohammad Sarwar
Worth: £20million, Industry: Cash & Carry /Politics
He (born 18 August 1952) is a British Labour Party politician who was a Member of Parliament (MP) in Glasgow from 1997 to 2010, first for Glasgow Govan and then from 2005 for Glasgow Central. He was the first Muslim MP in the United Kingdom.
Mohammad Sarwar was born in Pirmahal, Toba Tek Singh District, Pakistan. He was educated at the University of Faisalabad. In 1976 he married Perveen Sarwar, with whom he had three sons and one daughter.
Sarwar has estimated assets of £16 million, mainly from the family wholesale cash and carry business, United Wholesale Grocers, which Sarwar and his brother founded in 1982. The brothers split the business in 2002, with Sarwar forming United Wholesale (Scotland) while his brother retained the previous name.
In 2007 his son, Athif Sarwar, was convicted of an £850,000 missing trader fraud in United Wholesale (Scotland) Limited while he was Managing Director in 2003. Mohammad Sarwar was a remunerated director of the company, but not involved in the fraud.
Shahid khaqan Abassi Pakistan
Worth: £20million, Industry: Airline / Politics
He is a Pakistani businessman, electrical engineer, and a politician. He served as the Federal Minister for Commerce in 2008. Abbasi is the Founder, Chairman and CEO of Pakistani Airline Airblue. He also served as Chairman of Pakistan International Airlines from 1997 to 1999.
He is politically affiliated with the centre-right party PML-N, where he is a senior leader. Shahid Khaqan Abbasi has built the Murree-Kahuta and Kotli Sattian area as their political stronghold and has never lost an election since. He performed his duties as the chairman of National Assembly Standing Committee on Defence.
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