Skip to main content

Are Pakistanis Becoming More Wealthy?

According to a study of a financial think-tank from Switzerland, there are 415 people in Pakistan, who own more than $30 million each as compared to 310 last year, registering an increase of 33.9 percent, which is a record in Asia. Collective income of these people remained around $50 billion, the study revealed.

Only seven to eight business groups of the 22 families continue to operate their businesses significantly and the remaining families have either closed their businesses or have shifted abroad.

Dr Ishrat Husain, former governor of the State Bank of Pakistan (SBP), and a renowned economist, said only Dawoods, Adamjees, Sehgals, Shaikhs, Nishats and a few others have survived the economic ups and downs during this period, while Haroons, Batlas, Valikas, Isfahanis, Noons, and Rangoonwalas, have disappeared from the economic scene.

The nationalisation process in 70s also affected their economic position, he said, adding that some of the families went abroad and later shut their businesses due to one reason or the other. “Disputes and rivalries within the family and group also forced them to wind up their businesses,” Dr Husain said.


Labels:

Comments

Post a Comment

Thanks for leaving comments. You are making this discussion richer and more beneficial to everyone. Do not hold back.

Popular posts from this blog

Siege - A Poem By Ahmad Faraz Against The Dictatorship Of Zia Ul Haq

Related Posts: 1.  Did Muhammad Ali Jinnah Want Pakistan To Be A Theocracy Or A Secular State? 2. The Relationship Between Khadim & Makhdoom In Pakistan 3. Battle for God; Battleground Pakistan - a time has finally come to call a spade a spade 4. Pakistan - Facing Contradictory Strategic Choices In An Uncertain Region 5. Pakistan, Islamic Terror & General Zia-Ul-Haq 6. Why Pakistan Army Must Allow The Democracy To Flourish In Pakistan & Why Pakistanis Must Give Democracy A Chance? 7. A new social contract in Pakistan between the Pakistani Federation and its components 8. Birth of Bangladesh / Secession of East Pakistan & The Sins of Our Fathers 9. Pakistan Army Must Not Intervene In The Current Crisis - Who To Blame For the Present Crisis in Pakistan ? 10. Balochistan - Troubles Of A Demographic Nature
Post a Comment
Read more

India: The Terrorists Within

A day after major Indian cities were placed on high alert following blasts in the IT city of Bangalore, as many as 17 blasts ripped through Ahmedabad, capital of the affluent western Indian state of Gujarat . Some 30 people were killed, some at hospitals where bombs were timed to go off when the injured from other blasts were being brought in. (Later, in Surat, a center for the world's diamond industry, a bomb was defused near a hospital and two cars packed with explosives were found in in the city's outskirts.) Investigators pointed fingers at the usual Islamist suspects: Pakistan-based Lashkar-e-Toiba (LeT), Bangladesh- based Harkat-ul Jihadi Islami (HUJI) and the indigenous Students' Islamic Movement of India (SIMI). But even as the police searched for clues, the Ahmedabad attacks were owned up by a group calling itself the " Indian Mujahideen. " Several TV news stations received an email five minutes before the first blasts in Ahmedabad. The message repo...
Post a Comment
Read more

Pakistan Army Must Not Intervene In The Current Crisis - Who To Blame For the Present Crisis in Pakistan ?

By Sikander Hayat Another day of agony and despair as Pakistanis live through a period of uncertainty but still I believe that army must not intervene in this crisis. These are the kind of circumstances when army need to show their resolve of not meddling in the political sphere of the country. No doubt that there will be people in the corridors of power and beyond who will be urging the army to step in and ‘save’ the country but let me tell you that country will only be saved if army stays away and let the politicians decide the future of the country, even if it means that there will be clashes on the streets of Islamabad. With free media in place, people are watching with open eyes the parts being played by each and every individual in this current saga. They know who is right and who is wrong and they will eventually decide who stays in power when the next general election comes. Who said that democracy was and orderly and pretty business ; it is anything but. Democracy ...
108 comments
Read more