Friday, November 18, 2005

Pakistan's Largest Business Group

Far large than any of pakistan's business groups is the Pakistan Army, which is the largest coroparate entity in Pakistan. It owns, through its civilian corporate and welfare arms - Fauji Foundation and Army Welfare Trust - :
  1. the largest housing society in Pakistan; Defence Housing Society - larger than even Bahria Town.
  2. the largest logsitic company in Pakistan - National Logistic Cell.
  3. the largest fertilizer company; fauji fertilizer and Fauji Jordan
  4. the largest cereal company - Fauji Corn Flakes
  5. the largest Construction Company - Frontier Works Organization
  6. Three Sugar Mills
  7. One of the ten largest banks (Askari Bank)
  8. A software company (Askari Computers)
  9. Biggest Network of Universities (NUST)
  10. Askari Potable Water
There isn't enough room here to list the other companies the Army owns. But they are in the areas of Cement, Oil, Gas, Power, Corn, Polypropalene (whatever the hell that is), insurance, pharmeceuticals etc. etc. It has now even bid for the largest and most profitable govt. owned entity in Pakistan - Pakistan State Oil. This could be the biggest or second biggest privitization in Pakistan's history. It has revenuens of $2.5 billion and owns 85% of Pakistan's fuel oil market........... So the largest govt. owned entity in the country could be sold by the govt. to its own Army. The Army will obviously need to get a loan to buy this company, which it can conveniently take from its own Askari Bank. The bank can take a risk, because it always remains profitable because it has in its accounts the military budget !!

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