Top 5 richest people of Pakistan

Pakistan is currently going through an unprecedented economic crisis that has left the country in political turmoil. Increased inflation and high levels of income inequality affect the country. In this article, we examine the richest individuals of Pakistan, who are considered part of the country’s elite.

1- Mian Muhammad Mansha (net worth: $5 billion)

Mian Mansha is a well known personality in Pakistan comes first in the list of 5 richest people of Pakistan. The 83 year old is textile and Banking magnate. He owns the Nishat group of industries, MCB Bank, Adamjee Group and other international and national companies. The Nishat group consists of Nishat power, one of the largest Independent power producers of Pakistan and Nishat Textile Mills, the largest fabric producer of the country amongst others. Mansha is not a story of rags to riches! He inherited the family business of Nishat Textile Mills from his father and uncle and later expanded the operations to form the Nishat group of industries. Mansha is is quite an influential figure in the country and abroad. He is also a member of the board of directors at the Atlantic Council, a globally recognised US think tank.

2- Anwer Pervez (net worth: $3.1 billion)

Anwer Pervez is a prominent British Pakistani businessman who is the owner of Bestway Group comes at number second in the list of 5 richest people of Pakistan. In England, the group is more synonymous with Bestway retail stores while in Pakistan, the group owns and operates the Bestway cement and holds major stakes in United Bank Limited. The Best way retail stores are the 2nd largest chain of retail stores in the UK after Tesco. The group has also made major headway in British pharmaceutical sector. Anwar came from a poor family, his father was a subsistence farmer from Rawalpindi and he worked as a bus conductor during his early days in England. He worked 7 days a week covering double shifts in a bid to peruse his dream of opening his convenience store from where he has expanded to over hundreds of locations today.

3- Nasir Schon (net worth: $1 billion)

Nasir Schon comes third in the list of 5 richest people of Pakistan, a man who is little known amongst Pakistanis. He keeps a low profile and is an international reputed Property Developer with most of his business interests located in UAE. Nasir owns the Schon Group which has recently come under global radar in connection to allegations of fraud in real estate. The group acquired Multan Sultans, a PSL team in 2017, however, the agreement since has expired. Schon Group has significant interest in venture capital, textiles and fertilizer industries. The group owns the Pak-China fertilizer plant as well.

4- Rafiq M. Habib (net worth: $ 950 million)

Rafiq M. Habib is a very well known personality in Pakistan known for his philanthropic work and his massive portfolio. He is the chairperson of House of Habib, a group of industries owned by the group under one umbrella. Habib also owns one of Pakistan’s largest banks, Habib Bank Limited. Apart from these, Habib also owns the Thal Limited, Habib Insurance, Shabbir Tiles and Ceramics amongst other companies. He is also a known philanthropist and is the chancellor of Habib University, one of Pakistan’s top universities. He is also the director of other organizations like Masoomen Hospital Trust and Habib Medical Trust amongst others.

5- Tariq Sayeed Saigal (net worth: $ 900 million)

Tariq Sayeed Saigal is the owner of the wealthy Kohinoor group of industries. Ayyub Khan’s regime listed the Saigal family as one of the 22 families controlling most of Pakistan’s wealth. Saigal inherited most of his wealth and assets from his father and uncles via inheritance. Tariq is the head of the Kohinoor Group which owns Maple Leaf Cement, Kohinoor Textile Mills, PEL and many power plants that sell electricity to the Pakistani Government. Three brothers, Tariq, Nasim, and Taufeeq, manage the group and its business interests, with Tariq the eldest heading the company. The trio’s sister is the wife of Pakistan’s richest person Mian Mansha. The Saigols are the founder of United Bank Limited, though they no longer control it.