A national economy which depends on income from just one source will always be vulnerable, especially when that income comes from non-renewable resources. The prosperity of an economy usually relies on the successful implementation of economic diversification. In 2016, Saudi Crown Prince Muhammad bin Salman unveiled a new five-year economic strategy, “Vision 2030”, to transform…
Law cannot function in vacuum; operating for society it is influenced by its mores and attitudes. As an instrument of social change, the law thus never can be static, it has to change constantly alongwith the changes in the society. Since judges interpret and redefine the laws through their judicial decisions, the Judiciary plays a…
Dada One of the oldest commercial entities of the Memons is the Dada Commercial House. Long before the formation of Pakistan, the ancestors of present day proprietors established a group of trade and industrial enterprises in India, Burma, South Africa and countries of Near East. When Pakistan came into being in 1947 Dadas were among…
Wazir AliInitially incorporated as The Hyderabad (Sind) Vegetable Oils and Allied Industries Limited at Karachi on 27 June 1953 as a Private Limited Company by the Group Chairman, Syed Wajid Ali Shah, WAZIR ALI INDUSTRIES LIMITED’s plant was situated in Hyderabad. Within a short span of time, the TULLO Company, alongwith DALDA its main competitor…
Since establishing diplomatic ties in 1951 China and Pakistan have enjoyed close and mutually beneficial relationship, this bond has strengthened with the passage of time. One of the first countries to recognize the Peoples Republic of China in 1950, Pakistan has remained a steadfast ally even during Beijing’s period of international isolation in 1960s and…
ValikaKamruddin Valibhai of Bombay, the founder of the dynasty that came to be known as the Valikas, had four sons, Fakhruddin Valibhai, Najjamuddin Valibhai, Saifuddin Valibhai and Nooruddin Valibhai. One of the leading Muslim industrialists of Mumbai known for his unflinching support to the cause of Pakistan, Kamruddin. Valibhai enjoyed close association with stalwarts of…
Bawany GroupBorn in 1882 and 1890 respectively at Jetpur, Kathiawar, Ahmad Karim Ebrahim Bawany and Abdul Latif Ibrahim Bawany founded the Bawany dynasty. Migrating to Burma towards the end of 19th century, the two brothers reportedly made their initial fortunes by selling cloth as vendors on bicycles from village to village. They incorporated their first…
Esmail Ali who was from Gujarat in Western India began the Khoja Mithabhai Nathoo Trading Company in 1841. Joining the firm in 1891, his son Esmail Habib established Habib and Sons in 1922, with the famous Habib family logo, the Lion of Ali and the sword of Ali, Zulfiqar, above it. When Seth Ismail Habib…
A Pakistani economist, international development theorist, and politician Dr Mahbub ul Haq (February 1934 – 16 July 1998) served as the Federal Minister of Finance of Pakistan from 10 April 1985 to 28 January 1986, and again from June to December 1988 in the Caretaker Cabinet. To quote the New York Times, “An early proponent…
The dominance of family firms across the world is now well established: Among the largest publicly traded companies, family firms account for 44% of large firms in Western Europe, over 66% in East Asia, with their dominance in around the world being stronger in countries with relatively weaker capital markets and institutions. Family firms’ dominate…
