|1||Al-Noor Sugar Mills||944||752|
|3||Shah Murad Sugar||104||926|
|1||Mirpur Khas Sugar Mills||374||544|
|4||Greaves Air Conditioners||-||-|
|1||A A Textile||400||704|
- Ibrahim Modaraba 142
- Ibrahim Leasing 194
At the time of privatization of Pasrur Sugar Mills, the United Sugar committed a bank guarantees of Rs 200 million towards the liabilities of Pasrur Sugar Mills to the Financial institutions and agreed to contribute an additional equity of Rs 50 million for the rehabilitation of the sick mill. The agreement provided that all future BMR projects of Pasrur Sugar Mills will be financed on 50-50 basis.
Pasrur Sugar Mills became a heavy stone around the neck of the parent company and nearly a decade after its acquisition, the United Sugar Mills has become a defaulter to nationalized commercial banks.
|3||International Floor Covering||273||47|
|Total Manufacturing Assets||2,237||1,191|
After the military coup in Burma they returned to set up a business in India and in 1947 migrated to Pakistan. It was perhaps in memory of the Hosiery Mills at Rangoon that a company with the same name was incorporated in Karachi and is doing a flourishing business.
The name Bawany has its origin in the name of an elder of the family, Bawa known for his honesty and hard work in home town Jetpur.
They were first among the Memons to open a purchase office in Kobe, Japan and supported the construction of first mosque in Japan at Kobe.
Bawanies were a big family and Ahmad Bawany had seven sons namely Siddiq, Majid, Yahya, Ibrahim, Amin, Rauf and Zakaria Bawany, each of whom is believed to be heading at least one idependent industrial unit independently. Presetly the members of Bawany family are active in textile, jute, sugar, particle board, Oxygen, leather, garments, tanneries and cables.
Al-Noor is splinter of Bawanie and the two have joint interests in several companies. It set up its first Project Al-Noor Sugar Mills in 1970 and today has four companies listed on KSE. A big project by Al-Noor which is in the offing is under construction is Al-Noor Fertilizer located at Dhabeji, 50 Km from Karachi with the projected installed capacity to produce 390,000 tons of Urea and 390,000 tons of DAP.
|4||B F Modaraba||16||16|
|8||Latif Jute Mills||133||122|
|9||Pakistan Telephone Cables||-||-|
Schon bought National Fibre, Pak-China Fertilizer and Quaidabad Woolen Mills in Nawaz Sharif's privatization and nearly succeeded in acquiring Pak-Saudi Fertilizer Company during Bhutto's privatization , through a front man.
The group was founded in Singapore in 1973 to engage in import and export business while Athar Hussain was working as a pilot with the Singapore Airlines. It started as an Export House and grew around the hefty rebates that the group got on the export consignments. Nasir Hussain in an interview with Ovais Subhani of " The News", Islamabad narrated how he got his first order of shirts worth 300 dollars to Singapore and later took a furlow from college in the United States to supply a big garments order.
" Winning a export order from the Export Promotion Bureau proved to be the turn I was looking for. And in a little time we had enough resources to bid for a textile mills and later for a fibre unit under Nawaz Sharif's privatization", he said in the interview.
According to Privatization Commission figures, Schon had acquired National Fibre and Pak-China Fertilizer for total bid prices of Rs 1,21,3.84 million ( Rs 756.64 million and Rs 456.84 million respectively) but was handed over the management after a down payment of Rs484.5 million and the bulk of the balance amount is outstanding against the group.
In November 1991, at an investors conference in Islamabad, the Schon group announced plans for the setting up of a 30,000 barrels per day refinery at Port Qasim, in collaboration with PHOENIX Corp and Petro-Chem of United States under Benazir Bhutto govt when members of Schon group had close contacts with Asif Zardari, political clout was used to put together a financial package for the refinery in which National Investment Trust and several banks forced to join the project as equity partner.
After the sacking of Bhutto govt, newspapers carried several reports that Schon wanted to dispose off National Fibre and other units, prior to dismissal of Benazir Bhutto govt which was a violation of deed signed with Privatization Commission. A report in the daily, The News, Islamabad, in December 1996 also reproduced extracts of a letter by Tahir Hussain to Asif Zardari, revealing that a bid was being made to sell National Fibre through an intermediary.
" With regard to the visit of Pir Murad Ali Shah in connection with the purchase of National Fibre Limited, it is informed to your goodslef that as this unit is under heavy financial burden, therefore, it is of immense importance to get these loans waived off before further negotiations in respect of sale of this factory could be carried further. It is also informed that Corporate Law Authority has created a case against us which is becoming a problem for Schon Group. I shall be highly obliged if this case can be closed against National Fibre Limited. Accept my hearty felicitations and thanks on helping us to have the extended loan facility by the Habib Bank which was not possible without your personal interest in the matter ", the letter said.
Athar Hussain was taken into custody after dismissal of Bhutto govt but he managed to flee and is now living happily in United States. In November 1997, 8 residential plots and shares of Schon Bank were auctioned by Ehtasab Cell but a deal was mysteriously and quietly struck by Ehtsasab Cell and Athar Hussain. Details of the deal were not made public despite questions asked in the Senate but National Development Finance Corporation (NDFC) which started the legal process to repossess the National Fibre Limited was asked by the Ehtasab Cell to delay the takeover. According to the report published by The News, Islamabad on March 27, 1998, Ehtasab Cell has disbursed Rs 123 million to clear the dues of Pak-China Fertilizer to workers of the unit and WAPDA so that the unit can resume operation.
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
|3||Dadabhoy Cement Industries||1,965||896|
|5||Pak Resources Insurance|
The group lost heavily to Bhutto's nationalization and it was left only with a few textile mills, flour mills and ginning factories.
The fate of the parent company Sheikh Mohammad Ismaeel and Company and Messes Sheikhco Co Ltd are not known.
|6||Colony Thal Textile||-||-|
|8||National Security Insurance||94|
The current chairman of the group, Abbas Sarfraz is among the few who have declared their assets to worth over 1 million dollars.
|4||A R Pak||68||-|
The real strength of the group still lies in the parent company Shah Nawaz Limited which has grown into one of the biggest trading company in Pakistan representing multinationals like the Mercedez Benz, NEC computers and communication equipment and is heavily involved in the import and export business with former socialist countries.
|1||Shah Taj Sugar||554||605|
|4||Shah Taj Textile||199||192|
|6||Shah Pur Textile||232||233|
Shah Nawaz Ltd
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" In a society, deep neck in corruption, I more often than not, find myself a misfit. There is no place for a veteran businessman anymore in the socity ".
The Adamjee dynasty was founded by Haji Dawood in 1896 by establishing a commodity trading company, but it was his son Sir Adamjee Haji Dawood , under whom the Adamjee empire came to be built on a solid foundation. In 1923 he built a Match factory outside Rangoon, second biggest in the world for a long time. At the time of partition, Adamjee were the biggest exporter of jute from Calcutta.G M Adamjee
Abdul Wahid Adamjee had three sons, namely Mohammad Hanif, Abdul Hamid and Abdul Razak.
A G Adamjee s/o Zakaria Adamjee has two sons Akbar Adamjee and Zafar Adamjee. G M Adamjee has Ashraf Adamjee.
Adamjee Jute Mills was the biggest jute mill in the world, employing 25,000 workers and producing 100,000 tons of Hessian and gunny bags. Other units in the group in East Pakistan included:
Meghna Textile Mills
Star Particle Board
National Tubes Limited at Tongi Industrial Area
Dacca Vegetable Oil Industry and
Aroma tea blended from five tea gardens at Sylhet
In Bhutto's nationalization they lost Muslim Commercial Bank and interest in Mohammadi Steamship Company, leaving them only Adamjee Sugar Mills and Adamjee Cotton Mills, Karachi.
Adamjee own Pakistan's biggest insurance company, Adamjee Insurance but do not rank among top 44 groups based on manufactruing assets. However like the Habib group they are also making conscious efforts to appear small and inconspicuous. For example they have set up a big pharmaceutical unit whose products are being sold in the market under the packing of Adamjee without identifying the company.
|1||K S B Pumps||343||385|
Adamjee Pacific Trading Company
Adamjee Engineering Pvt Ltd
Adamjee Construction Company
Adamjee Ammam & Whitney Pak. Ltd
Adamjee Durabuilt (Pvt) Ltd
Adamjee Auto Part Manufacturing Company
Adamjee Industries Ltd
Adamjee Garment Industries
Associated Trading Company
AJAX Industries (Pvt) Ltd
AJAX Trading Company
Golden Valley Trading Company
Mingle Trading Company Ltd
Eurasian Chemicals (Pvt) Ltd Top of Page
|6||Naya Daur Motors||-||-|
Tawakkal General Export Corporation
Tawakkal Textile Corporation
Pullatan Cement Corporation in Sri Lanka bought for 41 million Dollars
Independently his group has four companies listed on the stock exchange.
|3||Elahi Spinning and Weaving||604||564|
The Dadas were reported to have set up several big and medium sized projects in Pakistan, " While retaining their interests in India ", including as asbestos Cement Factory plants at Karachi, Hyderabad and Chittgong, three textile mills, cotton and chemical plants. At least three cement plants were lost in East Pakistan and in Bhutto's nationalization.
" But the Dada's share in Pakistan's big business, and their capital must not be judged only on the basis of enterprises which they control directly. The point is that the Dadas who have continuously held ruling positions in Karachi Stock Exchage, have made wide use of concealed forms of financial control. They have also been junior partners in a number of of Pakistani and foreign monopolies ", Sregey Lvin observed abut Dadas in " the upper bourgeoisie from the Muslim commercial community of Memons of Pakistan".
|2||Punjab Building Products||104||52|
Punjab Agricultural Cooperative Corporation
Mahmood Power Generation
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