Who owns Pakistan? 11 business groups that own 35pc of KSE’s market cap

An infographic by KASB Securities has named the top 11 business groups, which make up 35 per cent of the total KSE all market capitalisation.

Bloomberg journalist Faseeh Mangi, in a recent tweet, shared “Who Owns Pakistan?” – A list of 11 giants which include some of the biggest, most influential, and oldest business names in the country.

However, in reply to the tweet, many pointed out errors in the figures shared by the journalist.

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According to the infographic, at the top of the group is the IGI Group, which includes IGI insurance, IGI Life, Nestle. Tri-Pack Films, and Sanofi-Aventis with a combined total market cap of Rs677 billion which makes up 7.4 per cent of KSE.

Coming in second is the Hussain Dawood Group which includes companies such as Engro Corp, Engro Foods, Engro Fertilisers, Engro Polymer, Engro PowerGen, Dawood Hercules, and Dawood Lawrencepur with a total combined market cap at Rs442 billion and 4.8 per cent of KSE.

Fauji Foundation is ranked in the third spot with companies such as Fauji Fertilizer, Fauji Foods, Fauji Fertilizer Bin Qasim, Fauji Cement, Askari Bank, and Mari Petroleum. The Fauji Foundation Group, according to the report, has a total market capitalisation of Rs432 billion, and a a total KSE share of 4.6 per cent.

Mian Mansha’s Mansha Group follows with a total market capitalisation at Rs408 billion, and 4.4 per cent share of KSE. Mansha Group includes names such as Nishat Mills, MCB Bank, DG Khan Cement, Adamjee Insurance, Nishat Chunian, Lalpir Power, and Nishat Power.

At number 5 in terms of market capitalization is the Habib Group which includes companies such as the Indus Motor Company, Thal Limited, Habib Insurance, Habib Sugar Mills, Bank Al-Habib, Habib Metro, and Shabbir Tiles. Total market capitalisation for the group stands at Rs326 billion and its total share in the stock exchange is at 3.6 per cent.

Bestway Group, which includes United Bank Limited (UBL) and Bestway Cement come in next with a market capitalization of Rs310 billion and a 3.4 per cent share of KSE.

Tabba Group, at number 7 boasts of a total market capitalisation of Rs298 billion and KSE percentage share of 3.3 per cent. The group includes companies such as Lucky Cement, ICI Pakistan, and Gadoon Textiles.

With a total market capitalisation of Rs143 billion, the Atlas Group which includes companies such as Honda Atlas Cars, Atlas Honda, Atlas Battery, and Atlas Insurance, has a 1.6 per cent share in KSE.

Chinoy Group, Saigol Group, and JS Group come in last in the list of the 11 groups which own 35 per cent of market capitalisation of Pakistan’s Stock Exchange with total market caps at Rs90 billion, Rs79 billion, and Rs43 billion respectively, and a respective percentage share of 1 percent, 0.9 per cent, and 0.5 percent. The Chinoy Group includes Pakistan Cables, International Industries, and International Steel. The Saigol Group includes companies such as Pak-Elektron, Maple Leaf Cement, and Kohinoor Textile Mills. JS Group includes Jahangir Siddique Company, JS Bank, BankIslami, JS Investments, and JS Global.

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Shoaib Pervaiz
The writer is an International Management graduate from Scotland with a background in Marketing. He writes about cybersecurity, e-commerce, technology, international trade, and the economy.


  1. Since when Bank Al Habib became part of Habib group? Just because there is a Habib in the name, does not make it part of a group. Just like Habib Bank (HBL) is not part of Habib group, bank Al habib owners are also not part of Habib group.

    Also, Nestle and Sanofi Aventis are not part of IGI or Ali group. The sole purpose of including them in IGI/Ali group is to make them number one in terms of market cap. Otherwise IGI/Ali group companies are not that big in terms of market cap, and certainly Hussain dawood Group is the biggest business group in Pakistan.

  2. You forgot Ibrahim group which owns Allied bank and Ibrahim fibres ltd with a market cap of over 100 billion rupees.

  3. Wrong info
    Nishat Chunian belongs to Mian Mansha’s nephews. It doesn’t come in accounts of Milan Manisha.
    Totally wrong information.

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