Dawood Group
The Dawood Group (Urdu: داؤد گروپ), also Dawood Group of Companies, is a term widely used in Pakistan for diverse businesses and industries of the Dawood family-business, founded by Seth Ahmed Dawood (1905-2002).[1][2] The term Dawood Group is therefore a phrase rather than a registered entity, used to describe a platform for the establishment of diverse businesses and industries in the early decades after the independence of Pakistan (1950-1960s).
Ahmed Dawood was one of the country’s senior industrialists[3] who was by 1933 with his firm the biggest supplier of imported yarn to the textile mills in India.[4] He left India after the partition and migrated with his three brothers Suleman Dawood, Siddiq Dawood, and Sattar Dawood. The Dawood Corporation was the first entity set up in Karachi and Manchester, UK, to start business activities in 1948. It started initially from a small office and a shop in Karachi but their business grew over the coming decades.
While in 1970 all the undertakings together made it count as one of the largest business groups in the country, the following year marked an abrupt change: Following the creation of Bangladesh in 1971, almost 60% of the businesses led by Ahmed Dawood and all investments in East Pakistan were lost due to the nationalisation there.[5] The remaining enterprises in Pakistan suffered further setbacks after the nationalisation in the early-mid-1970s.
Former subsidiaries[edit]
West Pakistan (later Pakistan)[edit]
- Memon Cooperative Bank[6]
- Pakistan Bank Limited[6]
- Central Insurance Company[6]
- Dawood Petroleum[6]
- Pakistan National Oil[6]
East Pakistan (later Bangladesh)[edit]
- Karnaphuli Paper Mills
- Karnaphuli Rayon & Chemical
- Dawood Jute Mills
- Dawood Shipping Company
See also[edit]
References[edit]
- ^ Bordonaro, Agatha (6 January 2017). "Five Tips for Leading a Successful Family Business". Columbia Business School (Columbia University). Retrieved 19 July 2021.
- ^ Shoukat, Ayesha (2020). "From Rags to Riches: Corporate Elite of Pakistan from 1947-1970". Asian Journal of Social Sciences and Management Studies. 7 (1): 12. doi:10.20448/journal.500.2020.71.8.16. Retrieved 19 July 2021.
- ^ Cragg, Claudia (1996). The new maharajahs : the commercial princes of India, Pakistan and Bangladesh. London: Century. p. 68. ISBN 0712677615.
- ^ "Dawood Foundation" (PDF). Brochure in Commemoration of the Inauguration of the Dawood Foundation: 6. 20 April 1961. Retrieved 19 July 2021.
- ^ Yusuf, Muhammad Fazlul Hassan (1980). "Nationalisation of Industries in Bangladesh. Political and Administrative Perspectives" (PDF). University of Tasmania. Retrieved 19 July 2021.
- ^ a b c d e "Managing state-owned enterprises | Political Economy". The News International.
 | This Pakistani corporation or company article is a stub. You can help Wikipedia by expanding it. |