The 22 Families

In many countries of the world, it is relatively easier to count the assets, available through many reliable and unchallenged resources, of the wealthiest citizens. However, it would be herculean task to name the richest Pakistani tycoon

In many countries of the world, it is relatively easier to count the assets, available through many reliable and unchallenged resources, of the wealthiest citizens. However, it would be herculean task to name the richest Pakistani tycoon. There is a simple reason for that; Pakistanis usually don't declare their full assets. These assets can't also be identified with major political or business stakeholders as these are replaced by proxies i.e. some family member in whose name these high value assets are registered.

In Pakistan, the organized sector is only 30% of the economy while unorganized sector, usually referred to as informal economy, is 70% of the economy. The richest usually spread out their wealth from organized to unorganized sector. Owing to the fact that there is no foolproof system the amount people have, the richest usually declare themselves as middle class paupers. It makes sense to develop the VIP paycheck in Pakistan on the basis of families and not individuals.

Back in 1968, Dr. Mahbub ul Haq, the famous development economist and the then Chief Economist at the Planning Commission of Pakistan, identified 22 families/groups in Pakistan that were dominating the financial and economic life of the country controlling 66% of the industrial assets and 87% of the banking. As indicated by Dr. Haq, these families had become both the Planning Commission and Finance Ministry for the private sector by 1968.

Taking all this into account, in VIP Pay check, we create a new category of "families" that have been controlling Pakistan by wielding their monetary power by maintaining their presence in all the strategic sector of economy and political life in the country.

Dr. Mahbub ul Haq's List

  1. Dawood
  2. Saigols
  3. Adamjees
  4. Colony
  5. Fancy
  6. Valika
  7. Jalil
  8. Bawany
  9. Crescent
  10. Wazir Ali
  11. Gandhara
  12. Ispahani
  13. Habib
  14. Khyber
  15. Nishat
  16. Beco
  17. Gul Ahmed
  18. Arag
  19. Hafiz
  20. Karim
  21. Milwala
  22. Dada

Industrial Concentration and economic power in Pakistan by L.J. White (1974)

No Name Listed Assets Unlisted Assets Total Assets (Rs. in Millions)
1 Dawood 557.8 - 557.8
2 Saigol 529.8 - 556.5
3 Adamjee 437.6 - 473.2
4 Jalil 419.8 - 419.8
5 Colony 325.4 - 342.7
6 Fancy 280.4 - 330.5
7 Valika 320 - 320
8 Bawany 237.4 - 237.4
9 Crescent 199.7 - 199.7
10 Wazir Ali 132.7 - 199.7
11 Gandhara 153.2 - 153.2
12 Isphani 90.8 - 154
13 Habib 128.1 - 136.2
14 Khyber 127.5 - 127.5
15 Nisaht 64.6 - 128.9
16 Beco 113.8 - 113.8
17 Gul Ahamad 21.1 - 109.2
18 Arag 32.4 - 105.4
19 Hafiz 100 - 105.3
20 Karim 95.4 - 95.4
21 Milwala 96 - 96
22 Dada 48 - 90.6
23 Hyesons 68.4 - 90.4
24 Premier 77.3 - 89.3
25 Hussain Ibrahim 88 - 88
26 Monnoo 79.9 - 79.9
27 Maula Bakash 58.9 - 79
28 Adam 45.1 - 78
29 A K Khan 74.9 - 74.9
30 Ghani 41.2 - 71.2
31 Rangoonwala 44.5 - 68.2
32 Harijanss 61 - 61
33 Shafi 60.2 - 60
34 Fakir Chand 59 - 59
35 Hasham 53.9 - 58.9
36 Dadabhoy 53.9 - 53.9
37 Shahnawaz 52.7 - 52.7
38 Fateh 48 - 48
39 Noon 36 - 46
40 Hoti 40.6 - 45.8
41 Dost Mohammad 20.4 - 45
42 Farooq 36.7 - 36.7


Monthly Herald (June 1990)

Sr. No. Name Manufacturing Assets Fianancial Assets (Rs. million)
1 Nishat 27,792 1,65,145
2 Saigol 15,202 9,004
3 Crescent 10,586 12,353
4 Dewan 10,113 --
5 Ittefaq 10,000 --
6 Chakwal 9,264 5,530
7 Habib 7,612 4,657
8 Saphire/ Gulistan 7,583 4,657
9 Gul Ahmad/ Al-Karam 5,220 915
10 Packages 5,168 12,822
11 Chakwal 4,592 5,530
12 Atlas 4,359 2,555
13 Hashwani 4,251 382
14 Bibojee-Saifullah 3,806 637
15 Dawood 3,780 1,605
16 Monnoos 3,605 --
17 Fecto 3,542 --
18 Lakson 2,876 --
19 Gatron 2,870 --
20 Fateh 2,843 --
21 Sargodha 2,743 --
22 Al-Noor 2,573 --
23 Ghulam Farooq 2,465 --
24 Ibrahim 2,333 336
25 United 2,237 3,644
26 Bawany 2,189 53
27 Zahoor 2,178 --
28 Schon 2,038 2,259
29 Dadabhoy 2,016 151
30 Jehangir Elahi 2,038 --
31 Fazalsons 2,000 --
32 Rupali 1,910 12,833
33 Servis 1,707 --
34 Yunus Bros 1,689 997
35 Tawkkal 1,678 644
36 Sitara 1,619 --
37 Colony 1,620 94
38 Premier 1,501 --
39 Shahnawaz 1,299 --
40 Sunshine/ Sunrays 1,265 --
41 Fazal/ Fatima 1,263 --
42 Calico 1,235 --
43 Tata 1,060 102
44 Raja 1,020 --


References

  • White, L. J. (1974). Industrial concentration and economic power in Pakistan. Princeton, N.J: Princeton University Press.
  • The Monthly Herald (June 1990)
  • Who Owns Pakistan by Mr. Shahid-ur-Rahman
  • "System is to blame for the 22 wealthy families", Speech by Dr. Mahbub ul Haq in 1968

 

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