Nishat is Pakistan's biggest industrial and financial conglomerate controlling assets worth Rs 192 billion and its Chairman, Mian Mohammad Mansha Yahya represented on the board of 45 companies is undisputedly Pakistan's richest individual.
Mian Mansha has catapulated to the top of Pakistan's richest families from the 15th position in 1970 and 6th in 1990 because of combination of factors like his marriage to Naz, daughter of Yusuf Saigol, a lot of luck and bit of politics under Nawaz Sharif.
" Investing in the shares of Muslim Commercial Bank (MCB) has been one of my biggest business slip ups. In hind sight, I should have never invested in this bank", said Mansha, when asked to comment on the general perception that MCB was privatized to him and his associates because of his friendship with Nawaz Sharif.
Windmills of God work in strange ways. In 1948 when Mansha's father Mian Mohammad Yahya and his three brothers incorporated a partnership concern, it was called Nishat Corporation after Nishat Haroon, the three year old grandson of Mian Mohammad Yaqub, eldest of the four brothers. The child who gave his name to the group has disappeared in thin air and Mian Mohammad Mansha, Chairman Nishat Group is today on top of Pakistan's corporate world, boastfully accustomed to buying his casual outfit from Harbe Frog on Bond Street, shoes inevitably from Gucci, cardigans and overcoats from Burbery's.
Mansha was the only son of Mian Mohammad Yahya whose death in 1968 forced him to give up studies in UK to return home since several of his cousins, Abdul Aziz, Aftab Iqbal and Mian Mohammad Farooq were already entrenched in the family business. Nishat Haroon was born to Mian Farooq who was married to the daughter of Mian Fazal Rehman of United Textiel Mills, Multan.
Like several other Chinioti businessmen, Mian Yahya had a leather business in Calcutta, India before moving to Pakistan in 1947 and it was perhaps in Calcutta that he developed friendship with Yusuf Saigol that led to the marriage of Mansha and Naz Saigol sometimes around 1970.
In 1970, Nishat comprised 6 units in West Paksitan, namely Nishat Corporation, Nishat Sarhad Textile, Nishat Textile Mills, Faisalabad, Nishat Chemical Industries and Nishat Agencies, Kotri and Karimi Industries, Nowshera.
The units in East Pakistan included Nishat Jute Mills, Qadaria Textile Mills, Tangail Cotton Mills and Chemical Industries of Pakistan. The business in East Pakistan was headed by Aftab Iqbal, one of several cousins of Mian Mansha whose whereabouts are not known today.
It is popular saying among the present day residents of Chiniot that the goddess of wealth is in love with the Chiniotis. But Mansha is perhaps being loved by both the goddess of love and lady luck since he has narrowly escaped the misfortunes that were the lot of the bulk of Pakistani Industrialists in 1970.
When divisions of Nishat group assets took place in 1969, Mansha bargained for Nishat Mills at Faisalabad for which he had to pay an additional amounts to his uncles but this saved him from losses in East Pakistan that became the lot of his uncles. Karimi Industries, Nowshera of Nishat group was nationalized and its nationalization is cited to argue that Bhutto's nationalization was an act of victimizing the opponents because it was too small to be nationalized. But loss suffered in Karimi Industries also came to lot of his uncles.
" I have had many lucky breaks. Luck has always been on my side. New projects just crop up before I have stopped doing the old ones", Mansha told Mahmood Awan of daily The Nation in 1990.
Mansha's rise begin in 1991 when within six week of coming into power Nawaz Sharif sold MCB to National group of 12 leading industrial families headed by him. The formation of National group itself was big strategic stroke of Mian Mansha against future reprisal by any govt since it would instantly alienate 12 leading industrial families of Pakistan.
According to group profile, Nishat comprised of five companies with assets worth Rs 2,480 millions in 1990 with plans for four new companies. Listed companies included Nishat Mills, Omer Fabrics and Raza Textiles while the only unlisted company was General Stitching company. Mansha had said in interview with Mahmood Awan that "for long-term investments, he had his eyes set on the food processing industry" but the privatization of Nawaz Sharif opened new doors for him and his dream to venture into food processing industry has not materialized to date. Instead, Mansha, his relatives and business associates emerged as the biggest beneficiary of the privatization under taken by Nawaz Sharif, ending up with five cement factories and a bank. Mansha claimed in a talk over telephone with the author that MCB helped the Employee Buyout of Millat tractors from the Privatization Commission.
Nishat currently comprises of 21 companies including 13 listed companies with manufacturing assets of nearly 27 billion and three of Mansha's close relatives, Saigols, Jehangir Elahi and S M Saleem of United Bank among the top 45 industrial families in Pakistan. Mansha has a daughter and two sons.
Nishat Group Companies
S. No Name Assets Turn over in Million Rs.
1 Nishat Mills 9,236 6,748
2 Raza Textiles 302 421
3 Omer Fabrics 854 629
4 Nishat Chunian 910 663
5 Nishat Tek 986 236
6 General Stitching 78 68
7 D G Khan Cement 7,775 1,547
8 Maple Leaf Cement 6,686 1,030
9 Nishat Fabrics - -
10 Gener Tech 963 225
Financial Assets
S. NO Name Assets
11 Muslim Commercial Bank 163,325
12 Fidelity Investment Bank 1,502
13 Fidelity Leasing 318
Total Financaial Assets 165,145
Unlisted Companies
1- Nishat Finishing Mills
2- Nishat Capital Management
3-Trust Management Services
4-Chunian Fibre
5-Nishat Europe
6-Newbery Mansha
7-Maple Leaf Electric Company
8-D G Khan Electric Company
Mian Mansha has catapulated to the top of Pakistan's richest families from the 15th position in 1970 and 6th in 1990 because of combination of factors like his marriage to Naz, daughter of Yusuf Saigol, a lot of luck and bit of politics under Nawaz Sharif.
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| Mian Muhammad Mansha |
Windmills of God work in strange ways. In 1948 when Mansha's father Mian Mohammad Yahya and his three brothers incorporated a partnership concern, it was called Nishat Corporation after Nishat Haroon, the three year old grandson of Mian Mohammad Yaqub, eldest of the four brothers. The child who gave his name to the group has disappeared in thin air and Mian Mohammad Mansha, Chairman Nishat Group is today on top of Pakistan's corporate world, boastfully accustomed to buying his casual outfit from Harbe Frog on Bond Street, shoes inevitably from Gucci, cardigans and overcoats from Burbery's.
Mansha was the only son of Mian Mohammad Yahya whose death in 1968 forced him to give up studies in UK to return home since several of his cousins, Abdul Aziz, Aftab Iqbal and Mian Mohammad Farooq were already entrenched in the family business. Nishat Haroon was born to Mian Farooq who was married to the daughter of Mian Fazal Rehman of United Textiel Mills, Multan.
Like several other Chinioti businessmen, Mian Yahya had a leather business in Calcutta, India before moving to Pakistan in 1947 and it was perhaps in Calcutta that he developed friendship with Yusuf Saigol that led to the marriage of Mansha and Naz Saigol sometimes around 1970.
In 1970, Nishat comprised 6 units in West Paksitan, namely Nishat Corporation, Nishat Sarhad Textile, Nishat Textile Mills, Faisalabad, Nishat Chemical Industries and Nishat Agencies, Kotri and Karimi Industries, Nowshera.
The units in East Pakistan included Nishat Jute Mills, Qadaria Textile Mills, Tangail Cotton Mills and Chemical Industries of Pakistan. The business in East Pakistan was headed by Aftab Iqbal, one of several cousins of Mian Mansha whose whereabouts are not known today.
It is popular saying among the present day residents of Chiniot that the goddess of wealth is in love with the Chiniotis. But Mansha is perhaps being loved by both the goddess of love and lady luck since he has narrowly escaped the misfortunes that were the lot of the bulk of Pakistani Industrialists in 1970.
When divisions of Nishat group assets took place in 1969, Mansha bargained for Nishat Mills at Faisalabad for which he had to pay an additional amounts to his uncles but this saved him from losses in East Pakistan that became the lot of his uncles. Karimi Industries, Nowshera of Nishat group was nationalized and its nationalization is cited to argue that Bhutto's nationalization was an act of victimizing the opponents because it was too small to be nationalized. But loss suffered in Karimi Industries also came to lot of his uncles.
" I have had many lucky breaks. Luck has always been on my side. New projects just crop up before I have stopped doing the old ones", Mansha told Mahmood Awan of daily The Nation in 1990.
Mansha's rise begin in 1991 when within six week of coming into power Nawaz Sharif sold MCB to National group of 12 leading industrial families headed by him. The formation of National group itself was big strategic stroke of Mian Mansha against future reprisal by any govt since it would instantly alienate 12 leading industrial families of Pakistan.
According to group profile, Nishat comprised of five companies with assets worth Rs 2,480 millions in 1990 with plans for four new companies. Listed companies included Nishat Mills, Omer Fabrics and Raza Textiles while the only unlisted company was General Stitching company. Mansha had said in interview with Mahmood Awan that "for long-term investments, he had his eyes set on the food processing industry" but the privatization of Nawaz Sharif opened new doors for him and his dream to venture into food processing industry has not materialized to date. Instead, Mansha, his relatives and business associates emerged as the biggest beneficiary of the privatization under taken by Nawaz Sharif, ending up with five cement factories and a bank. Mansha claimed in a talk over telephone with the author that MCB helped the Employee Buyout of Millat tractors from the Privatization Commission.
Nishat currently comprises of 21 companies including 13 listed companies with manufacturing assets of nearly 27 billion and three of Mansha's close relatives, Saigols, Jehangir Elahi and S M Saleem of United Bank among the top 45 industrial families in Pakistan. Mansha has a daughter and two sons.
Nishat Group Companies
S. No Name Assets Turn over in Million Rs.
1 Nishat Mills 9,236 6,748
2 Raza Textiles 302 421
3 Omer Fabrics 854 629
4 Nishat Chunian 910 663
5 Nishat Tek 986 236
6 General Stitching 78 68
7 D G Khan Cement 7,775 1,547
8 Maple Leaf Cement 6,686 1,030
9 Nishat Fabrics - -
10 Gener Tech 963 225
Financial Assets
S. NO Name Assets
11 Muslim Commercial Bank 163,325
12 Fidelity Investment Bank 1,502
13 Fidelity Leasing 318
Total Financaial Assets 165,145
Unlisted Companies
1- Nishat Finishing Mills
2- Nishat Capital Management
3-Trust Management Services
4-Chunian Fibre
5-Nishat Europe
6-Newbery Mansha
7-Maple Leaf Electric Company
8-D G Khan Electric Company
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