Tuesday, July 14, 2009

Pakistan's Rich List of 2008

Short-listing Pakistan's most influential business magnates or Groups has
never been an easy task because there are the people who have been very
powerful in nearly every regime that has held this country's reins since
the last 60 years and then we have had those seasonal species that
maneuvered their voice to be heard better than most within the power
corridors, but later vanished into the oblivion for one reason or the
other. We have selected only those tycoons who have made their presence
felt for a better part of country's history, have earned consistently, have
been setting up units at regular intervals or have been legends in stocks,
currency or real estate business.

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. In order to promote the
new and "unknown" Pakistani magnates we have excluded in previous entities.

Unfortunately, our extensive research does not currently include the names
of a few stars that shone brightly amidst the galaxy of the influential
creed of yesteryear like C.M.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 takes 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, business leaders of virtue and senior bureaucrats at the Central
Board of Revenue.

1 - Mian Muhammad Mansha Yaha Pakistan

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

Mansha has around 40 companies on board. Mansha, who owns the Muslim
Commercial Bank is also setting up a $ 17m paper mill. He is one of the
richest Pakistanis around. Nishat Group was country's 15th richest family
in 1970, 6th in 1990 and Number 1 in 1997. Mansha is on the board of nearly
50 companies. He is deemed to have made investments in many bourses,
currency and metal exchanges both within and outside Pakistan. He could
have bought the United Bank too, but then who doesn't have adversaries.
Nishat Group comprises of textiles, cement, leasing, insurance and
management companies. If Mansha was bitten by Bhutto's nationalization
stint of 1970, his friends think he was compensated by Nawaz Sharif's
denationalization programme to a very good effect. There is no stopping
Mansha and he is still on the move.

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

2 - Asif Ali Zardari Pakistan

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

Asif Zardari dubbed "Mr 10%" an unknown happy-go-lucky son of a small-time
businessman who struck gold by marrying one of the worlds most glamorous
women Former Prime Minister of Pakistan Benzair Bhutto. Taking advantage of
his wife's authority he is known to have taken kickbacks from many deals
inside and outside of Pakistan. The most famous was a $4 billion deal to
buy 32 Mirage jets from the French company Dassault. Documents, which
include letters from Dassault executives, indicate an agreement was reached
to pay a 5% "remuneration" - about $200m - to Marleton Business, a BVI
company controlled by Zardari. Besides these many more kickback deals were
taken with companies such as ARY Gold, Société Général de Surveillance
(SGS), Cotecna, and ZPC Ursus, a Polish tractor company.

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

They (Zardari and B.Bhutto) also have huge business ventures in the Middle
East running into hundreds of millions if not billion mark. Mr Zardari also
has huge stakes in sugar mills all over Pakistan,which include: Sakrand
Sugar Mills, Nawabshah, Ansari Sugar Mills, Hyderabad, Mirza Sugar Mills,
Badin, Pangrio Sugar Mills, Thatta and Bachani Sugar Mills, Sanghar.

3 - Sir Anwar Pervaiz UK

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

Chairman of Bestway Group. The Bestway Group started in 1976 with its first
Bestway cash and carry warehouse opened in London. Today the have in total
around 50 Cash and Carry's. Including their recent takeover of rival group
Batleys for around £100m. Bestway Group ventured into Pakistan's huge the
cement business in 1995 and set up cement manufacturing plant in Pakistan
at a cost of $120 million.

Taking Advantage of Pakistan growing economy they also acquired a 25.5%
stake in United Bank Limited in 2002. Today, the Bestway Group has
interests in cash & carry wholesale, property investments, retail outlets,
milling of rice, lentils and pulses, cement production and more recently
into banking. The group's total sales amounted to in excess of £ 2 billion.
The group provides direct employment to thousands in the UK and Pakistan.
The have many interests in Pakistan too. Sir Anwar Pervaiz and his his
partners sheer hard work has bought them to outstanding international
levels, which definitely makes him an ideal role model for many young
Pakistanis today. He still on the move!

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

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

Mr Sharif Businessman turned politician the former Prime Minister of
Pakistan. He was ousted in a military coup in 1999 and was forced to
forfeit $9million dollars and some of his assets including his $5m Mansion
is Raiwind near Lahore. Before becoming PM he was a major share holder
along with his brother and cousins of Ittefaq Group, having assets well in
excess of £50m in the 90's. However he got richer when he took commissions
from foreign companies for construction in Pakistan. He build the first
motorway and many new roads and took heavy kickbacks. He then also stole
$100m from the Iqra funds, he started a new scheme "Ghar Apna" in which he
again looted around $40m, the "Mulk swaaro" scheme involving public & govt.
money collections to help pay pf Pakistan's debts also was pocketed. Today
he lives in exile in Saudi Arabia where it is known he has a new huge
business empire in various sectors.

5 - Saddaruddin Hashwani Pakistan

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

Saddaruddin Hashwani is Chairman Hashoo Group is known for his dominance in
Pakistan's hotel industry, though Hashwanis are have huge strength in real
estate business too. Hashwanis are involved in trading of cotton, grain and
steel and till the nationalization of cotton export in 1974, they were
widely being dubbed as the Cotton Kings of Pakistan. Today, this group has
excelled in export of rice, wheat, cotton and barley. It owns textile
units, besides having invested billions in mines, minerals. hotels,
insurance, batteries, tobacco, residential properties, construction,
engineering and information technology. In 1984, Hashwani defeated the
Lakhanis in the bid for Premier Tobacco but was arrested along with his
brother Akbar in 1986 for allegedly evading customs duty on cigarettes.
Sadarduddin's brother Akbar and the children of another late brother Hassan
Ali Hashwani together manage around 45 companies. Akbar runs the second
Hashwani Group. He is one of the most well-known magnates in Pakistan who
is a regular invitee at the Diplomatic Enclave. The list of local and
international bigwigs known personally to Hashwani is unending.

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

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

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

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

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

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

8 - Rafiq Habib & Rasheed Habib Pakistan

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

Legend has it that the Goddess of Wealth has been in love with the seasoned
Habibs more than anybody else in Pakistan. Most pundits believe that Habibs
own at least 100 companies throughout the world, but these content
mega-tycoons never boast off, something which has made it uphill for most
to predict about their financial standing. This industrial group was
founded by Seth Habib Mitha, born in 1878 to Esmail Ali-a factory owner in
Bombay. The financial strength of the Habibs can be gauged from the fact
that Muhammad Ali Habib gave a cheque of Rs 80 million to Quaid-e-Azam in
1948 at a time when Pakistan government was penniless owing to delay in
transfer of Pakistan's share of Rs. 750 million by the Reserve Bank of
India. They had offices in Europe in 1912. They incorporated the Habib Bank
in 1941. They own the Habib Bank A.G Zurich, Bank Al-Habib, Indus Motors
assembling Corolla cars and many dozens of units in sectors such as jute,
paper sack, minerals, steel, tiles, synthetics sugar, glass, construction,
concrete, farm autos, banking, oil, computers, music, paper, packages,
leasing and capital management. Habibs today are headed by Rafiq Habib and
Rashid Habib in two distinct groups. What makes them extremely influential
players of all times is the fact that for dozens of top businessmen today,
Habib were a myth once.

9 - Tariq Saigol & Nasim Saigol Pakistan

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

Hailing from Jhelum. The pioneer of the Saigol dynasty in 1890 was Amin
Saigol who established a shoe shop that eventually transformed into
Kohinoor Rubber Works. And then times saw them shining literally like the
Kohinoor until their progress was halted by Nationalization in which they
lost two-thirds of their wealth. Saigols got trifurcated in 1976 and 15
descendents of Amin Saigols four sons got a share. The name of the Saigols
has been used in this part of the world as similes describing quantum of
wealth. Yousaf Saigol, along with his brothers Sayeed Saigol, Bashir Saigol
and Gul Saigol then nourished an excellent crop. In 1948, Saigols
established the Kohinoor Textile Mills with a cost of Rs 8 million and this
group happens to be the first to open an LC with the State Bank of
Pakistan. They bought the United Bank in 1959 and then witnessed five of
their units getting nationalized. They lived in Saudi Arabia during the
Bhutto regime. Today, cousins Tariq and Nasim are holding the family's fort
together and have risen to unprecedented heights in individual capacities.
NAB did haunt Nasim but Tariq spent more time either accepting or refusing
prized slots everywhere. Tariq is the one of the finest business brains

10 - Dewan Yousaf Farooqui Pakistan

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

Mr Farooqui. The mentor of this group has been the Sindh Minister for Local
Bodies. Industries, Labour, Transport, Mines & Minerals. Dewan Mushtaq
Group is one of the Pakistan's largest industrial conglomerates in sectors
like polyester acrylic fiber, manufacturing and automotives. Six of their
companies are listed at the Karachi & stock Exchange and one at the
Luxembourg bourse. Dewan Farooqui Motors assembles around 10,000 cars
annually under technical license agreement with Hyundai and Kia Motors of
Korea. The Dewan Salman Fiber is the pride of this empire as it ranks 11th
in the world in total production capacity. The group owns three textile
units, a motorcycle manufacturing concern and the largest sugar unit in the
country. Dewans also have business interests in India. They possess dozens
of millions of shares of Saudi Cement and Pak land Cement. They also have
the franchise licence for BMW in Pakistan and now Rolls Royce showrooms.

11 - Sultan Ali Lakhani & family Pakistan

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

The Lakhanis are currently having a hard time at the hands of NAB. Sultan
Lakhani and his three brothers run this prestigious group and the chain of
McDonald's restaurants in Pakistan. NAB has alleged the Lakhanis of having
created phoney companies through worthless directors and raised massive
loans from various banks and financial institutions. Sultan is currently
abroad after having served a jail term with younger sibling Amin, though
the latter was released much earlier. NAB had reportedly demanded Rs 7
billion from Lakhanis, but later agreed they pay only Rs 1.5 billion over a
10-year period. Lakhanis, like their arch-rivals Hashwanis, are the most
well-known of all Ismaeli tycoons. Their stakes range from media, tobacco,
paper, chemicals and surgical equipment to cotton, packaging, insurance,
detergents and other house-hold items, many of which are joint ventures
with leading international conglomerates. Though Lakhanis are in turbulent
waters currently, the success that greeted them during the last 25 years
especially has been tremendous. They have rifts with large business empires
despite being known fur their genteel nature. Whether it is any government
in Sindh or at the Federal level, Lakhanis have had trusted friends
everywhere, though the present era has proved a painful exception.

12 - Malik Riaz Hussain Pakistan

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

Malik Riaz Hussain heads the massive project which is currently developing
state-of-the-art schemes in Lahore, Karachi and Rawalpindi/Islamabad.
Emerging out of the blue, this developer has reportedly developed
tremendous connections where it matters in Pakistan-One of the few reasons
why his constructed projects get completed in time without hindrance.
Whether he has gifted bungalows free of cost of country's bigwigs or
offered them at highly concessional rates, the reality on the ground is
that Malik has managed to mesmerize most through his generous wallet. His
land-holdings both within and outside Pakistan amounts to nearly a billion
dollar. He is the man behind the Bahria Town. Irrespective of who is in
power; he continues to build house after house-swelling his wealth. He is
also the first man to drive a Bentley car on Pakistani soil.

13 - Sheikh Abid Hussain alias Seth Abid Pakistan

Ranking: 10 Worth: £390m ($780) Industry: Businessman

Sheikh Abid Hussain alias Seth Abid. He is one of the most resourceful
developers/builders in the country owning vast stretches of land in major
cities. On this land worth many billion of rupees, Seth has constructed
residential schemes under the brand name of "Green Fort." Seth came into
this business after decades of notoriety as being one of the spearheads in
cross-border smuggling. While many remember Seth for his allegedly illegal
trading stints, a lot of informed circles still say with conviction that
he, along with Dr.Qadeer and former Premier Bhutto, was the brain behind
the success of Pakistan's nuclear programme. About three dozen of Seth's
very close relatives, friends and nephews are members of country's bourses
and for many years now, the Seth Abid group assumes the role of king-makers
during the annual polls of these stock exchanges. He is a leading investor
in stocks, metals and currency but what gives him immense pleasure is his
philanthropic institution Hamza Foundation that he sponsors for the welfare
of deaf and dumb children. Pakistan has not had a single ruler, politician,
bureaucrat or Army General who doesn't know the Seth who is more of a myth
for most. The Seth, throughout his life, has avoided publicity-a fact known
to most journalists.

14 - Mian Mohammed Latif Pakistan

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

Chenab Group Mian Muhammad Latif supervises this group along with his
brother Mian Ashfaque- a legislator in the National Assembly of Pakistan.
Founded in 1975, Chenab Limited set up its first fashion outlet "Chen One."
Chen One has seven outlets throughout Pakistan. After establishing its
retail chain stores in various cities of Saudi Arabia, the group is now
planning to establish its new retail chains in Bahrain, UA.E, Qatar, Kuwait
and Central Asian Republics. While Chenab Group is an eight-time Export
Trophy winner, its Chief Mian Latif has won the 'Businessman of the Year
award on four different occasions from various business bodies. Chenab is
principally engaged in manufacture and distribution of clothing, furniture
goods, including non-iron suit, quilt cover and curtains etc. Chenab
processes 50 million square metres fabric weaving and 75 million square
metres fabric dyeing every year and has established a global sales network
spanning across five continents. Chenab is licensed to the Swedish Texcote
Technology in the manufacturing and sale of textile materials, garments and
textile house-hold goods. The group's textile products have been awarded
the Oekotex 100 accreditation.

15 - Haji Abdul Ghafoor & Haji Bashir Ahmed Pakistan

Ranking: 12 Worth: £330m ($660) Industry: Businessman

Sitara Group Started its activity with textile weaving as early as 1956,
under brothers Haji Abdul Ghafoor and Haji Bashir Ahmed. It is now its
textile cloth finishing and processing, textile spinning, chlor-alkali
sector and in power generation. The units owned by this establishment
include Sitara Chemicals, Sitara Chemicals (Textile Division 1) and Sitara
Chemicals (Textile Division 11), Sitara Textiles, Sitara Energy and Yasir
Spinning. The charities being managed under the aegis of Sitara group are
Aziz Fatima Hospital, Ghafoor Bashir Children Hospital and Aziz Fatima
Girls School. Sitara's name with the industrial City of Faisalabad is
synonymous. They are the decades-old veterans in business, who have
excelled in leaps and bounds. At their units, the owners of Sitara use
technology imported from Japan, UK and Germany and are export leaders in
bedding and fabric collection to South America, USA, Canada, New Zealand
and Europe. Their textile divisions together operate at strength of 33,984
spindles. The Sitara (group, to a common man, is more famous for its lawn
brands like Sitara Sapna and Mughal-e-Azam. The men at helm of affairs in
Sitara hardly believe in setting up dozens of units, of which they are
otherwise very much capable of.

16 - Sheikhani Family Pakistan

Ranking: 13 Worth: £300m ($600) Industry: Businessman

They are one of the most reputed land developers in the country. The
Sheikhani, although not a very big industrial establishment by any means,
are led by Abu Bakar Sheikhani. The Sheikhanis are famous for their
construction and land development-related errands. Abu Bakar is deemed to
be one of the largest investors in real estate trade at Gwadar Port. He has
all the right connections that are required to be in such business. Despite
being well known to the national political circles, the man in street knew
more of him during March/April 1991 when he surfaced as the single largest
contributor to then Premier Nawaz Sharif's Debt Retirement Fund with a
donation of $ 8million. Today, his adversaries dub him a land mafia man,
alleging him for selling his Gwadar land at only $ 4000 per acre only to
senior Army officials while the same was being sold at $ 2,50,000 per acre
to ordinary investors. But that is the way Sheikhani runs his vast
land/construction empire. Accusations don't disturb Sheikhani, who
according to many large developers is a man who has managed to create
tremendous impression in land business. The rumours of his landing in any
Pakistani City for land acquisition purposes, helps the price of real
estate surge unprecedented overnight

17 - Razzaq Dawood Pakistan/UAE

Ranking: 14 (tied at 14) Worth: £250m ($500) Industry: Businessman

Razzaq presently heads one of Pakistan's biggest construction and
engineering conglomerate know as Dawood group/Descen group. With a roaster
of impressive clients. His group has won many contracts in Dubai, Saudi
Arabia and Iraq and employ's over 1,000 people directly. His name was more
prominent among the top 22 richest families in 1970 until the Bhutto
nationalization which then made him set up abroad, he returned to Pakistan
in the early 90's and started from scratch and today makes it in the top
easily. The group also has investment of $300m in Bangladesh in investments
in fertiliser, energy and infrastructure and development sectors.

18 - Byram Dinshawji Avari Pakistan

Ranking: 14 (tied at 14) Worth: £250m ($500) Industry: Businessman

Byram Dinshawji Avari is a prominent Pakistani Parsi tycoon in Karachi,
Sindh, Pakistan. Together with his sons Dinshaw and Xerxes and their direct
families, he owns and operates the Avari Group of companies, of which he is
the chairman. Hotel management is the Avari Group's core business. In
Pakistan, the group owns and operates Avari Hotels which includes 5-star
deluxe hotel in Lahore, the 5-star Avari Towers and the seafront Beach
Luxury Hotel in Karachi. The group is also actively pursuing opportunities
for owning and/or managing 3 and 4-star properties elsewhere in Pakistan.
The Avari Group is the first Pakistani company to have obtained
international hotel management contracts: they operate the 200-room 4-star
hotel in Dubai in United Arab Emirates and manage the 200-room Ramada Inn
in Toronto at Pearson Airport in Canada.

19 - Rafiq Rangoonwala Pakistan

Ranking: 15 (tied at 14) Worth: £240m ($480) Industry: Businessman

Mr. Rafiq Rangoonwala, Chief Executive Officer Cupola Group of Companies,
was born in Karachi, did BA (Hons.) from University of Karachi, went to
United States of America in 1979, and did Executive Development Course from
Whittemore School of Business, University of New Hampshire along with
several management courses from U.K, U.S, Canada, Australia and Singapore.
In 1980, he started his career in Fast Food restaurants from KFC in
Houston. Since then he has managed several other brands alongside KFC like
Pizza Hut, Harry Ramsden's, TGI Fridays, Pizza Express etc. e joined Artal
Restaurants International as CEO in October 1999 and is currently heading
Cupola Group of Companies who has franchise rights in Pakistan for KFC,
Indulge, Freshens and Casa. The associate Investment Company of Cupola is
AL ABRAJ, with approximately US $400 million under management.

20 - Shimmy Querishi USA

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

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

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

21 - Faruque Khan Pakistan

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

The late Khan Bahadur Ghulam Faruque Khan (1899-1992) was a politician and
industrialist of Pakistan. He belonged to the village Shaidu in Nowshera
District, Nowshera is the home of the famous Pashtun Tribe the Khattaks of
the NWFP Province in Pakistan. Because of his contribution to Pakistan's
Industrial development he is sometimes described as "The Goliath who
Industrialized Pakistan., today his family own Cherat Cement Company Ltd.
Cherat Papersack Ltd. Cherat Electric Ltd. Mirpurkhas Sugar Mills Ltd.
Faruque (pvt) Ltd Greaves Air-Conditioning(pvt) Ltd Greaves Engineering
Services(pvt) Ltd Unicol Ltd.- A JV Company Madian Hydro Power Ltd. - A JV
Company Zensoft (pvt) Ltd and prime properties around Pakistan

22 - Shahid Luqman UK

Ranking: 16 (tied at 16) Worth: £230m ($460) Industry: Businessman

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

23 - Mukhtar Ahmed Pakistan

Ranking: 16 (tied at 16) Worth: £230m ($460) Industry: Businessman

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

24 - Aqeel Karim Dhedi Pakistan

Ranking: 16 (tied at 16) Worth: £230m ($460) Industry: Businessman

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

25 - Syed Family Pakistan

Ranking: 17 (tied at 17) Worth: £220m ($440) Industry: Businessman

Listed on all three stock exchanges in Pakistan, Packages Limited has
maintained a long-time credit rating of AA. The joint ventures and business
alliances with some of the world's biggest names reflect our
forward-looking strategy of continuously improving customer value through
improvements in productivity. The group also acquired a good number of Coca
Cola plants in Pakistan. Its famous brands include Nestle Milk Pak, Treet,
Mitchells and Tri Pack Films. It has stakes in the textile, dairy,
agriculture and rice sectors too. The group's contributions towards the
cause of an independent Pakistan are unprecedented are the only packaging
facility in Pakistan offering a complete range of packaging solutions
including offset printed cartons, shipping containers and flexible
packaging materials to individuals and businesses world-wide. They employ
over 4000 people.

26 - Saif Family Pakistan

Ranking: 17 (tied at 17) Worth: £220m ($440) Industry: Businessman

Is owned and operated by the sons of famous NWFP lady politician Begum
Kalsum Saifullah. Her eldest son Javid Saifullah heads this very powerful
business group. Javid obtained his Master degree in Business Administration
from the University of Pittsburgh, USA in 1973, followed by diversified
experience of over 30 years in textiles, telecommunication, cement and
Information Technology. He also remained the Chairman of All Pakistan
Textile Mills Association (APTMA) for two years and NWFP for seven years.
He has also been the member Task Force IT & Telecommunication Advisory
Board, Ministry of Science and Technology, Member of Task Force
(Liberalization & Privatization of Pakistan Telecommunication Company
Limited), Ministry of Science & Technology) Javed Saifullah Khan is looking
after the group businesses for the past 20 years. Saifullahs are in power
always, in one form or the other. Javaid's brothers Anwar Saifullah Khan
(Former Federal Minister), Salim Saifullah Khan (king-maker in NWFP
polities) and Osman Saifullah (another APTMA & wizard) have very close
family ties with a lot of key politicians in the country, besides being
related directly or indirectly through marriages to the families of a few
leading and famous Army Generals who ruled Pakistan.

27 - Jehangir Elahi Pakistan

Ranking: 18 (tied at 18) Worth: £200m ($400) Industry: Businessman

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

28 - Sherazi Family Pakistan

Ranking: 18 (tied at 18) Worth: £200m ($400) Industry: Businessman

This group was founded by Yousaf Sherazi, a former Income Tax official andjournalist in 1962 with a capital of Rs 03 million only. The first company
set by the Atlas Group was Sherazi Investments (Pvt) Limited and since
then, there is no looking back. The East Pakistan tragedy, however, nearly
crippled Sherazi but he never lost hope and went out forming numerous joint
ventures with leading Japanese concerns like Honda. Atlas-Honda today is a
name to reckon with in country's engineering sector and associated with
this just one name are hundreds of vendors. He holds stakes in insurance,
financial services, information technology, leasing, warehouses, office
equipment, motor cars and motorcycle-assembling units, besides running a
renowned firm that manufactures batteries. Sherazi owns the Atlas
Investment Bank too. The Federal Budget 2004-05 is perhaps the only budget
in country's history that has hit the very influential car manufacturers on
the head, otherwise people like Yousaf Sherazi have always managed to
dictate terms where it matters. The Atlas Group owns no less than seven
companies quoted on the stock exchanges of Pakistan. The group's assets are
believed to have touched the hundreds of millions dollars mark and so have
the sales.

29 - Noon family Pakistan

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

Noon family comes from Tiwana family from Mitha Tiwana. The Tiwana family
lives in an old historical village in Khushab district. The Tiwana caste is
a very popular landholding and influential political caste in the Khushab
district. The Noon Family own 27 villages in Bhalwal and Bhera. The fields
of these villages are very cultivated and fertile. The Landlord Noon family
created many bankers, industrialists, ambassadors and politicians for
Pakistan. The Noon family is very popular in the area because of their
character , their attitude,their behaviour with the people and helps the
poor and needy people in the area without any prejudice so Noon family is
very well-wisher,well-behaved ,sympathetic with the area. On their land
they own over 40 factories on total ranging from brick manufacturing to
cotton farms and production. They are a tax paying landlords for this
reason they are the only feudal lords including in this edition.

30 - Mian Abdullah Pakistan

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

One of the largest manufacturers and exporters of textile products in
Pakistan, Sapphire technology comes from Europe, Japan and USA.
Capitalizing on the region's principal crop, cotton, we source this
locally, and augment our offerings by providing imported fiber from the
world's best crops. We work with specialized fibers bringing in the newest
innovations from major fiber and chemical producers, and our manufacturing
from yarn to finished fabric is performed in our facilities in Pakistan.
Synergies are formed with offshore garment manufacturing companies. Our
products are marketed to the industry's biggest names in Asia, Europe,
Australia, and North America. Over 14,000 employees ,Annual turnover US $
500 Million

Headed by a veteran industrialist Mian Abdullah, this splendid empire owns
11 yarn spinning plants (producing 60,000 tonnes of yarn annually), 3 woven
plants of greige fabric ( producing 50 million metres annually), one yarn
dyeing plant (capacity 5 tonnes per day), one knitting unit (10 tonnes per
day), one knitted fabric dyeing plant (10 tonnes per day), one woven fabric
dyeing and finishing plant (1.2 million metres per month) and three power
plants having the capability to produce 40 MW of energy. Sapphire forms
synergies with off-shore garments companies. The group markets its products
in biggest brand names in Asia, Europe, Australia and North America.
Sapphire started with one spinning mill in 1969 and employs over 10,000
people. Mian Abdullah's repute can be gauged from the fact during the
October 2003 minis at APTMA, more than 1000 textile millers bad tendered
their resignations against incumbent Chief Waqar Monnoo to him. Dozens of
leading tycoons had proposed his name to head APTMA in case of an interim
setup. Having an influence among textile millers is no easy job but Mian
Abdullah stands privileged in this context He is often seen part of the
entourages of key business leaders to foreign countries and provides input
to fellow colleagues whenever requested.

31 - Shahzad Family Pakistan

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

Shahzad Group is a reputable name which takes pride in being identified as
a beacon of business development involved in almost all avenues of Nation
building activities i.e. Energy, Communications, Minerals, Construction,
Geophysical survey, Security and many other ventures. Shahzad Group has ,
by itself, and in some cases in collaboration with foreign and local
partners, who are the leading brand names in the world, identified,
initiated, supervised and successfully completed major business ventures.
Shahzad Group prides itself for its accomplishments during almost three
decades of business activity. The Group has actively participated in
enhancing Pakistan's international competitiveness and social development,
and for promotion of foreign and domestic investment in business ventures.
It takes pride in delivering quality products, solutions and services that
obtain a competitive advantage over others.

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

32 - Nazir Family Pakistan

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

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

33 - Abdul Bhati UK

Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman

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

34 - Adalat Chaudhary UK

Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman

Director of the London-based Bestway cash-and-carry business established by
Sir Anwar Pervez.

35 - Younis Sheikh UK

Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman

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

36 - Chaudrey Zameer UK

Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman

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

37 - Zafar Iqbal Khwaja Pakistan

Ranking: 21 (tied at 21) Worth: £150m ($300m) Industry: Businessman

Zafar Iqbal Khawaja (born January 3rd, 1952) is a prominent Pakistani
businessman who owns a number of companies around the world. He is better
known in Pakistan as the "Prince of Sargodha". Also referred to as the
"Shaheen of Sargodha" (The Eagle of Sargodha). Zafar Iqbal Khawaja, is the
son of a significant military commando Muhammed Sadiq Khawaja, who worked
with Muhammed Ali Jinnah (The Founder of Pakistan) during the 1947
partition of India and Pakistan. Zafar Iqbal Khawaja is most widely known
as the Managing Director of a multi-million dollar company called Inter
Equipment. It's Head Quarters are located at the Jebal Ali Free Zone, Dubai
which is a recognized commercial capital of the Middle-East. In
Mr.Khawaja's business circle, he is known for his commitment to honest work
and his ethical manner of business. Within 15 years, he has developed
himself from a fresh college graduate, into a business tycoon. Currently,
he is in the process of writing an auto-biography describing his success
story. This auto-biography would be a must-read for any business-person
pursuing major success.

38 - Shahid Hussain Pakistan

Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman

With more than 325 retail outlets and 13 wholesale depots, Service Sales
Corporation (Pvt.) Limited is the leading retail and wholesale company in
Pakistan with annual sales $300m. The Company has established some of
Pakistan's leading footwear brands including DON CARLOS, CHEETAH, SKOOZ,
TOZ and LIZA and has distribution agreements with CATERPILLAR and NIKE. As
part of our growth strategy, we have expanded our businesses to include
Service Communications, Shoe Planet (Pvt.) Limited and Soul Collections.

39 - Younis Brothers Pakistan

Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman

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

40 - Ghani Family Pakistan

Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman

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

41 - Saddiq & Sons Pakistan

Ranking: 22 (tied at 22) Worth: £130m ($260m) Industry: Businessman

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

42 - Afzal Kushi UK

Ranking: 23 (tied at 23) Worth: £120m ($240m) Industry: Businessman

Afzal Khushi, 51, managing director of Jacobs & Turner, last year received
a CBE for services to business in Scotland. He and his brother, Akmal, 50,
have made the £90m Glasgow sportswear firm a global business. They also
have £30 other assets.

43 - Ghulam Hassan Khan Pakistan

Ranking: 23 (tied at 23) Worth: £120m ($240m) Industry: Businessman

The SK group of companies shares a set of five core values: integrity,
adaptability, excellence, unity and responsibility. These values, which
have been part of the SK Group's beliefs and convictions from its earliest
days, continue to guide and drive the business decisions of SK companies.
The SK Group and its enterprises have been steadfast and distinctive in
their adherence to business ethics and their commitment to corporate social
responsibility. This is a legacy that has earned the SK Group the trust of
many thousand of stakeholders The SK Group comprises of six operating
companies in following business segments: Information technology, Real
estate, Developer and Builders, Media, Welfare, Import and exports and CNG
stations. The SK Group was founded by Sardar Gulam Hassan Khan Niazi in the
mid 1980's. Sardar Khan Niazi and those who followed him aligned business
opportunities with the objective of nation building. This approach remains
enshrined in the SK Group's ethos to this day. Rose Shopping Mall
Companies owned by the family today: Paradise City, SK Trading, DUBAI Gasco
2000, chain of CNG stations SK Constructions , rose club, SK plazaz, Chuna
Pa chain fast food chinese., SKN tust and sk farms.

44 - Kasim Dada Pakistan

Ranking: 24 Worth: £100m ($200m) Industry: Businessman

Kasim hails from a 19th Century Memon business family known to have
possessed the vision of international trade when most of their
contemporaries were rather naïve on this count. This family had offices in
Burma, South Africa and countries of the Far-East long before 1940. Dadas,
have held decisive positions at the Karachi Stock Exchange and own shares
of various Pakistani and foreign monopolies without creating any hype.
Kassim Dada's family is known to have held major local equity in
multinationals like Glaxo SmithKline, Brook Bond and Berger Paints, besides
being the sponsoring directors of Messrs Hyderabad Electronics, Automotive
Battery Limited and Interfund Bank etc. Kassim Dada is one of the few
Pakistani Tycoons who used to fly on private planes from Karachi to hit
cement plants in Hyderabad. It was this family which had hired Mahatama
Gandhi as a solicitor in 1890 to contest a business case in South Africa.
Dada, was once a symbol of wealth. Had his assets not been nationalised by
Bhutto he would definitely had the status many richest men in the world
enjoy today.

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