In a country with an entrepreneur culture at an all-time high, it’s not uncommon to ask who the richest person is in Pakistan? Here are a few of the richest people who have made their mark on the country’s economy.
Mian Muhammad Mansha is a Pakistani billionaire who owns Nishat Group, which is now Pakistan’s largest fabric manufacturing mill. He also owns a Muslim commercial bank.
Mian Muhammad Mansha is a Pakistani business magnate who has a net worth of $3.7 billion. He is the chairman of the Nishat Group, a multi-billion dollar conglomerate that has interests in the textile, cement, banking, insurance and power generation industries.
He is also a renowned philanthropist, who donates money to various social causes. He has been involved in many projects related to healthcare, women’s education, poverty alleviation and sports.
One of Mansha’s companies, Nishat Mills, is teaming up with South Korea’s biggest car maker to assemble cars in Pakistan. The deal is a win-win situation for both parties and could boost the economy of the two countries.
However, Mansha has come under scrutiny after it was revealed that he had been hiding Swiss bank accounts from tax authorities in Pakistan. According to OCCRP’s Pandora Papers, he maintained two bank accounts in Switzerland with a company called Easy Investments Ltd.
He is the founder and chairman of Hashoo Group (Established in 1960). The company is one of the most diversified industrial groups with interests across tourism, travel, real estate development, pharmaceuticals, IT, oil and gas.
He belongs to an illustrious business family of Karachi. He joined his father’s business soon after completing education. He inherited an agency of Ralli Bros Limited in 1929 and retained it until 1968, dealing with hides and skins, bones and cotton.
After the nationalization drive, he diverted his resources towards hotel industry and other industrial ventures. He started Holiday Inn Islamabad in 1978 under the umbrella of his company, and another one in Karachi in 1981.
In 1985 he made a successful bid for the four Intercontinental Hotels owned by Pakistan Services Limited. He re-branded the hotels and changed their name to Pearl Continental Hotels. He also launched a philanthropic institute named Hashoo Foundation in 1985.
Asif Ali Zardari
Asif Ali Zardari was born on July 26, 1955 in a prominent Baloch family of Sindh. His father Hakim Ali Zardari was a prominent figure in the Baloch community and also a landowner.
His mother was a well-known business woman who owned several hotels in Karachi. Asif Ali Zardari studied at Saint Patrick’s College in Pakistan and the London School of Business Studies.
He married Benazir Bhutto in 1987 and they have three children together. Their marriage was arranged according to traditional Pakistani culture.
The couple’s wealth grew quickly during the 1990s, when they purchased properties around the world. They acquired a $50 million “prime minister’s residence” in Islamabad, the 365-acre $8 million Rockwood Estate in Surrey, England, and a $4 million estate in Palm Beach County, Florida.
Asif Ali Zardari was elected president of Pakistan in September 2008. He served one term until 2013. During his tenure, the country has faced many challenges. These include a growing militant threat, a turbulent relationship with the United States, uneasy relations with the military and nationwide flooding.
While many Pakistanis are not rich, a handful of elites have amassed massive sums of money. These people have risen to wealth through hard work and education.
The richest person of Pakistan is a Karachi-based entrepreneur named Nasir Schon, who has a net worth of over one billion dollars. He is the CEO of Schon Group, which has a number of properties in Dubai.
He is also a philanthropist. He has a foundation called “Caan” which aims to provide shelter and other necessities to the people in Pakistan.
Mr Schon has also worked with the United Nations. He has partnered with UNICEF to help children in areas affected by natural disasters.
Another Pakistani businessman who ranks high on the list is Tariq Saigol, who owns the Kohinoor-Maple Group and has a stake in the textile mills of Kohinoor and Pak Electron Ltd. He is also a major investor in the power company of Kohinoor.