DECODING THE LARGEST BUSINESS CONGLOMERATE IN PAKISTAN

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Nearly $26.5 billion is the total annual revenue generated by the businesses run by Pakistani Army Generals, which is larger than India’s Ambani or Adani groups.

Just two of the many businesses that produce more than $10 billion in value each year are Askar Bank and Fauji Foundation.

There is a lot of controversy in Pakistan regarding the disparity between rich and poor, large business organisations and a common man’s struggle for prestige and Atta. especially given the grave financial crisis that our terrorist neighbour is currently experiencing and its impending sovereign default. Business conglomerates are essential to the economy of any nation. The greatest business conglomerate in Pakistan, with nearly three million employees and over $26.5 billion in yearly revenue, is one example. It is the Pakistan Army, none other.

When the Fauji Foundation was founded in 1954 by the then-army chief general Ayub Khan and the then-defence secretary major ge

neral Iskandar Mirza, they had no idea that it would eventually have power over Pakistan’s economy. Currently, the annual revenue generated by the businesses managed by Pakistani Army Generals is close to $26.5 billion, exceeding that of the Adani or Ambani groups in India. Just two of the many businesses that produce more than $10 billion in value each year are Askar Bank and Fauji Foundation. It’s interesting to note that this $26.5 billion represents about 10% of one entity’s ownership of Pakistan’s annual GDP. The Pakistan Army is the richest business entity in the entire globe according to this ratio.

How do these businesses operate? Asakari Foundation, Fauji Foundation (Pakistan Army), Shaheen Foundation (Pakistan Air Force), Baharia Foundation (Pakistan Navy), Army Welfare Trust, Defence Housing Authorities (DHA), and other philanthropic organisations operate these enterprises. The very reason they are classified as charitable organisations is to avoid paying taxes. Although the wellbeing of service members is these organisations’ stated goal, all profits go to their shareholders, who are none other than retired Army generals. Army generals receive significant post-retirement rewards in Pakistan.

Nearly 50% of the Retired Corps Commanders and above officials of the Pakistani Army/Corresponding officials of the Pakistani Navy and Air Force are directly hired by these charity organisations, while another 30% are deputed as ambassadors, members of the foreign service, or administrative staff. Do not be concerned; plans exist for a second 20% of the population to receive enviable jobs in a variety of government initiatives, public sector businesses, advisory roles to governments, and so forth. The general headquarters of the Pakistani Army in Rawalpindi oversees all of these philanthropic (commercial) organisations’ overall management, despite the They are the biggest real estate developers in Pakistan having over 50 different housing projects across the country which are not small. Each one of them is spread over several thousands of acres. DHA Islamabad is spread in over 16000 acres while DHA Karachi is over 12000 acres. These lands are allocated free of cost by the government of Pakistan which is then sold at a huge premium to common public. Pakistan Army manufactures steel, furniture, consumer goods, pharmaceuticals, food products, cereals, processed meat and many other things.

fact that each one is separately administered by a board of directors. Any industry you can think of, the Pakistan Army is likely involved.Who is Pakistan’s largest maker of cement and fertiliser? Yes, it is the Pakistani Army. They are the dominant force in Pakistan’s wind and solar energy industries and own Askari Bank, one of the top 5 banking institutions in the nation. In addition to this, they also control mines, a number of for-profit hospitals, and a sizable network of educational institutions spread out across the whole of Pakistan.

Do you find this boring? Kindly wait. With over twenty firms engaged in the import, distribution, and processing of petroleum products, the Pakistani military is the largest colossus in the oil and gas industries as well. The Pakistan Army received yet another profitable chance when the United States launched its alleged battle against terrorism in Afghanistan. In addition to providing private protection to all foreign contractors operating in Afghanistan, FATA, and Khyber Pakhtunkhwa, they began providing the coalition forces with the essential supplies. Although Pakistan’s space programme has not yet begun, the Pakistani Army is the country’s largest SUPARCO contractor (Space and Upper Atmosphere Research Commission of Pakistan).

Over the course of Pakistan’s 75-year history, the military has ruled directly for more than 50 years and indirectly for the remaining 20. This is clear from the fact that no Pakistani prime minister who was elected could ever serve out his or her whole term. The Pakistani Army hung some of them, while others were killed in broad daylight. Few people were compelled to leave the country abruptly. Because of this, no matter who takes office in Islamabad, they are never willing to accuse the military of engaging in business interests. According to statistics, these firms have been expanding at a pace of over 20–30% annually while the majority of Pakistan’s enterprises are making losses. This growth rate is the highest.

Unfortunately, Pakistan is the only nation where the populace is indoctrinated with severe anti-Indian feelings rather than rationality. Every time the general people discusses access to food, electricity, water, and other facilities, the Pakistan Army and its leaders bring up Kashmir. It appears that every nation in the world has an army, but Pakistan is the only one where the army controls the entire nation.

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