Saigol Group
{{short description|Pakistani conglomerate}}
{{Use Pakistani English|date=February 2019}}
{{Use dmy dates|date=February 2019}}
The Saigol Group ({{IPA|ur|ˈsɛɡ.əl}} {{respell|SEG-uhl}}) is a group of companies headquartered in Lahore. It was founded by Ameen Saigol in the 1930s with a small shop that eventually developed into the Kohinoor Rubber Works.{{cite web|url=https://www.dawn.com/news/1055611|title=Rebuilding on ruins of nationalization (includes history of Saigol Group)|first=Nasir|last=Jamal|date=11 November 2013|publisher=Dawn (newspaper)|accessdate=1 February 2019}}{{Cite web | title=The richy rich ones of poorly poor nation | url=http://dailymailnews.com/dmsp0204/dm001.html | archive-url=https://web.archive.org/web/20190225182454/http://dailymailnews.com/dmsp0204/dm001.html | archive-date=2019-02-25}} Ameen Saigol had four sons: Yousaf, Sayeed, Gull and Bashir.
History
The Saigol family were originally farmers from a small town called Khotian, Chakwal District, Punjab, Pakistan. Khotian town was later named Saigolabad after this family. Sayeed Saigol moved to Calcutta in the 1930s and opened a shoe store. He opened a rubber shoe factory, and was a supplier of rubber shoes and raincoats to the Allied Forces during World War II.
Saigol, anticipating the division and independence of British India, moved his assets to Lahore in the early 1940s. After the independence of Pakistan in 1947, with the help of his three brothers Yousaf, Gull and Bashir, he set up their first textile spinning mill in Lyallpur (now called Faisalabad) in 1949 under the name of Kohinoor Industries.{{Cite news|url=https://www.nytimes.com/1948/08/03/archives/indian-deal-closed-on-fabric-machines-1500000-contract-is-signed.html|title=INDIAN DEAL CLOSED ON FABRIC MACHINES; $1,500,000 Contract Is Signed With H. & B. Co., With Delivery for First Quarter in 1949 FOR SHIPMENT TO PAKISTAN Equipment Is Bought by Saigol Brothers for Textile Factory to Be Built in Lahore|first=Special to THE NEW YORK|last=TIMES|work=The New York Times |date=3 August 1948|via=NYTimes.com}} In 1953 a second textile plant was constructed near Rawalpindi and incorporated as Kohinoor Textile Mills. Later the family expanded its textile business more to Rawalpindi and Gujjar Khan, and bought a sugar mill in Jauharabad from the Pakistan Industrial Development Corporation. In 1958–59, the Saigols founded the United Bank Limited. During the same era from 1957 to 1984, they also established Kohinoor Cotton Mills in Tehsil Liaqatabad/Piplan, District Mianwali.
From 1960 to 1971, Saigol Family also established United Bank Limited and United Chemical Industries. At that time, the group was operating in almost every sector of the econonmy; from textile, power and cement to banking, electronics and chemicals.
In 1972, Zulfikar Ali Bhutto regime started its nationalization drive and most businesses of the Saigol Group were nationalized over the next four years. By 1976, only the textile and sugar businesses remained.
Then under General Zia-ul-Haq's regime beginning in 1977 reprivatization of industries started. In the early 1980s, the Saigol Group started rebuilding and reinvesting after their losses due to nationalization of industries in Pakistan during the 1970s.
The group is now managed by different Saigol brothers/cousins: Tariq Saigol (son of Sayyed Saigol), Naseem Saigol (son of Yousaf Saigol), and Iqbal Saigol (son of Bashir Saigol).{{cite web|url=http://www.pel.com.pk/group-profile.html|title=Group profile|url-status=dead|archiveurl=https://web.archive.org/web/20100206172616/http://www.pel.com.pk/group-profile.html|archivedate=2010-02-06}} Naseem's sister Naz Saigol is married to Mian Muhammad Mansha.
Tariq Saigol is head of Kohinoor-Maple group, which owns the Kohinoor textile mills and Maple-Leaf Cement.{{cite web|title=Executive Profile|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=24524608&privcapId=39420629&previousCapId=39420629&previousTitle=Zimpex%20%28Private%29%20Limited|website=Bloomberg.com|accessdate=14 February 2017}} He is known to be openly critical of the Pakistani government's lack of interest in the textile sector. Naseem Saigol heads Saigol Group including PEL and Kohinoor industries.{{cite web|title=Executive Profile|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=26118751&privcapId=20357736|website=bloomberg.com|accessdate=14 February 2017}} Iqbal Saigol is the head of Muhib Group.
List of companies
The group currently owns following companies:{{Cite news|url=https://pel.com.pk/group-profile/|title=PEL - A Journey Of 6 Decades - Going Stronger Than Ever|newspaper=Pel }}
=Listed=
- Maple Leaf Cement{{Cite web|url=https://dps.psx.com.pk/company/MLCF|title=MLCF - Stock quote for Maple Leaf Cement Factory Limited - Pakistan Stock Exchange (PSX)|website=dps.psx.com.pk}}
- Pak Elektron Limited (PEL)[https://dps.psx.com.pk/company/PEL Unknown]{{Dead link | date=February 2025 | fix-attempted=yes}}
- Kohinoor Energy Limited{{Cite web|url=https://dps.psx.com.pk/company/KOHE|title=KOHE - Stock quote for Kohinoor Energy Limited - Pakistan Stock Exchange (PSX)|website=dps.psx.com.pk}}
- Kohinoor Industries Limited{{Cite web|url=https://dps.psx.com.pk/company/KOIL|title=KOIL - Stock quote for Kohinoor Industries Limited - Pakistan Stock Exchange (PSX)|website=dps.psx.com.pk}}
- Kohinoor Mills Limited{{Cite web|url=https://dps.psx.com.pk/company/KML|title=KML - Stock quote for Kohinoor Mills Limited - Pakistan Stock Exchange (PSX)|website=dps.psx.com.pk}}
- Kohinoor Power Company Limited{{Cite web|url=https://dps.psx.com.pk/company/KOHP|title=KOHP - Stock quote for Kohinoor Power Company Limited - Pakistan Stock Exchange (PSX)|website=dps.psx.com.pk}}
- Kohinoor Textile Mills Limited{{Cite web|url=https://dps.psx.com.pk/company/KTML|title=KTML - Stock quote for Kohinoor Textile Mills Limited - Pakistan Stock Exchange (PSX)|website=dps.psx.com.pk}}
- Saritow Spinning Mills Limited{{Cite web|url=https://dps.psx.com.pk/company/SSML|title=SSML - Stock quote for Saritow Spinning Mills Limited - Pakistan Stock Exchange (PSX)|website=dps.psx.com.pk}}
=Unlisted=
- Kohinoor Ginning Factory, Multan
- Saigol Computers{{Cite news|url=https://pel.com.pk/group-profile/?lang=ur|title=Group Profile|newspaper=Pel }}
- Azam Textile Mills Limited, Lahore
- Kohinoor Motor Works, joint-venture with Qingqi Rickshaws
- The Four Seasons Private Limited
- RED Publicis{{cite web | url=https://aurora.dawn.com/news/1144421/awards-boost-the-spirit-and-act-as-a-driving-force-to-grow-further | title="Awards boost the spirit and act as a driving force to grow further" | date=17 May 2022 }}
Former subsidiaries
=Nationalised=
{{main|Nationalisation in Pakistan}}
- United Chemicals Limited, Kala Shah Kaku
- Kohinoor Engineering Limited, Kala Shah Kaku
- Insecticides (Pakistan) Limited, Kala Shah Kaku
- Kohinoor Oil Mills, Kala Shah Kaku (formerly a listed company){{Cite web|url=http://www.brecorder.com/news/3029665|title=Due diligence for Kohinoor Oil Mills completed|date=7 April 2004|website=Brecorder}}{{Cite web|url=http://beta.dawn.com/news/134041/eois-invited-for-kohinoor-ghee-mills|title=EoIs invited for Kohinoor Ghee Mills|date=8 August 2003|website=DAWN.COM}}
- Kohinoor Rayon Limited, Kala Shah Kaku{{Cite web|url=https://alumni.iba.edu.pk/magazine/aprjun2019/the-life-of-haji-bashir.php|title=IBA Alumni Magazine|website=alumni.iba.edu.pk}}
- United Bank Limited
=East Pakistan=
- United Bank Limited branches in East Pakistan, now known as Janata Bank{{Cite web|url=https://www.dhakachamber.com/storage/publications/October2018/gzkglBHsAaYwqlUybwD7.pdf |title=Nationalisation in Bangladesh}}
- Kohinoor Chemicals
- Kohinoor Jute Mills
- Kohinoor Spinning Mills
Family members
- Yousaf Saigol (1911-1992) Son of Ameen Saigol
- Sayyed Saigol (1913-1985) Son of Ameen Saigol
- Bashir Saigol (1918-1988) Son of Ameen Saigol
- Rafique Saigol (1933–2003), a member of the National Assembly,{{Cite web|url=http://www.dawn.com/news/1068596|title=DAWN - Features; December 25, 2005|date=25 December 2005|website=DAWN.COM}}{{Cite news |last=Sterba |first=James P. |date=1972-06-25 |title=Bhutto Picks Up The Pieces of Pakistan |language=en-US |work=The New York Times |url=https://www.nytimes.com/1972/06/25/archives/bhutto-picks-up-the-pieces-of-pakistan-bhutto-picks-up-the-pieces.html |access-date=2023-04-03 |issn=0362-4331}} Son of Yousaf Saigol
- Shafique Saigol (1936–2010) Son of Yousaf Saigol
- Iqbal Saigol (b. 1940) Son of Bashir Saigol
- Naseem Saigol (b. 1943) Son of Yousaf Saigol
- Tariq Saigol (b. 1948){{Cite news|url=https://www.nytimes.com/1998/12/30/business/worldbusiness/IHT-international-fallout-from-nuclear-tests-rocks.html|title=International Fallout From Nuclear Tests Rocks Teetering Industry : In Pakistan, an Imploding Economy|first1=Miriam|last1=Jordan|first2=International Herald|last2=Tribune|work=The New York Times |date=30 December 1998|via=NYTimes.com}} Son of Sayyed Saigol
- Taufeeq Saigol (b. 1950) Son of Sayyed Saigol
- Azam Saigol (1951–2018) Son of Yousaf Saifol
- Asif Saigol (b. 1953){{Cite web|url=http://beta.dawn.com/news/43600/asif-saigol-convicted|title=Asif Saigol convicted|date=18 June 2002|website=DAWN.COM}} Son of Yousaf Saigol
References
{{reflist}}
External links
- [http://www.pel.com.pk/ Pak Electron]
{{Saigol Group}}
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Category:Conglomerate companies of Pakistan