Nishat Group(Urdu:نشاط گروپ‬) is agroup of companiesheadquartered inLahore,Pakistan.[1][2]It was founded by Pakistani business magnate Mian Muhammad Yahya in 1951.Mian Muhammad Manshais the currentchairmanof the group.[3]

Nishat Group
Native name
نشاط گروپ‬
Company typeCorporate group
Industry
Founded1951;73 years ago(1951)
FoundersMian Muhammad Yahya
Mian Hameed
Mian Rafiq
Mian Ayub
HeadquartersLahore,Pakistan
Key people
Mian Muhammad Mansha(chairman)
Total assetsIncreaseUS$6 billion(2021)
Number of employees
43,000 (2021)
Websitenishatmillsltd

At least eleven of the Nishat Group's subsidiaries are listed on thePakistan Stock Exchange.[4][5]

History

edit

Nishat Group's origins goes back to aleatherbusiness inCalcutta,British India,established by Mian Muhammad Yahya.[6]Following thepartition of Indiain 1947, Mian Muhammad Yahya and his threebrothers,Mian Hameed, Mian Rafiq, and Mian Ayub, foundedNishat Millsin Pakistan in 1951.[6]The name "Nishat" was pre-assigned to thetextilelicense they acquired and was not chosen by the founders.[6]

Mian Muhammad Manshajoined thefamily businessin 1968 after the death of his father, Mian Muhammad Yahya.[6]By 1970, the Nishat Group had expanded to include six industrial units inWest Pakistan:Nishat Corporation, Nishat Sarhad Textile, Nishat Textile Faisalabad, Nishat Chemical Industries, Nishat Poultry, and Creamy Industries Nowshera.[6]The group also had investments inEast Pakistanprior to theindependence of Bangladesh,including Nishat Jute Mills, Qadiryah Textile Mills, Telgin Cotton Mills, and Chemical Industries of Pakistan.[6]Nishat Jute Mills was acquired by the group from thePakistan Industrial Development Corporationin East Pakistan.[7]

In 1969, the assets of the group were divided among the family members.[6]Mian Muhammad Mansha received assets located in West Pakistan, while assets in East Pakistan were transferred to other family members, which were eventually lost after the creation of Bangladesh.[6]

List of companies

edit

Listed companies

edit

Following are the companies which are listed on the Pakistan Stock Exchange:

DG Cement

edit

DG Khan is a major Pakistani cement manufacturer which the group acquired in 1992 under the privatization scheme. It has three active plants in the country. It generates around Rs. 2.2 billion per year. It has a production capacity of 24,000 tons per day.[17]

Lalpir Power

edit

MCB Bank

edit

MCB Bank is one of the four largest banks in Pakistan. It is considered as one of the 'Big Five' banks of Pakistan.[18]The bank was incorporated byAdamjee Groupand it was nationalized by then Prime MinisterZulfikar Ali Bhutto.In the 1990s, it was privatized by then Prime MinisterNawaz Sharif's government and came under the Nishat Group.[5]

Nishat Chunian

edit

Nishat Chunian Group was incorporated in 1990 to diversify the business of Nishat Group.[5]

Nishat Power

edit

Nishat Power Limited(NPL) is anindependent power producerin Pakistan that generates, distributes, and supplieselectricityto theNational Transmission and Dispatch Company(NTDC). It is a subsidiary ofNishat Mills Limited,which holds a 51 percent ownership stake.[19]

Founded in February 2007, Nishat Power commencedcommercial operationson June 9, 2010.[20]Thepower plant,supplied byWärtsilä,is located nearKasur Districtin Punjab and operates using residual furnace oil, with a gross generation capacity of 200 MW.[19][21]For the first five years, theoperation and maintenanceof the plant were handled by Wärtsilä, which later trained local staff to manage it in-house.[22]

In 2009, Nishat Power Limited was listed on theKarachi Stock Exchange.[23][24]

Under the power purchase agreement signed with NTDC in 2007, Nishat Power supplies electricity to NTDC with a net capacity of 195.26 MW at a rate of 12.1253U.S. centsperkilowatt-hour(kWh).[19][25]The duration of the power purchase agreement is twenty-five years.[19]Also, it had signed a ten-year fuel supply agreement withShell Pakistan.[19]

Pakgen Power

edit

Unlisted companies

edit

Following are the companies which are not listed on the Pakistani Stock Exchange:[6]

  • Nishat Linen
  • Nishat Dairy (Private) Limited
  • Nishat Hospitality (Private) Limited
  • Nishat Papers Products Company Limited
  • Pakistan Aviators & Aviation
  • Security General Insurance Company Limited
  • Nishat Hotels and Properties Limited[2]
  • Nishat (Aziz Avenue) Hotel and Properties Limited
  • Nishat (Gulberg) Hotel and Properties Limited
  • Nishat (Raiwind) Hotel and Properties Limited
  • Nishat Agriculture Farming (Private) Limited
  • Nishat Automobile (Private) Limited
  • Nishat Developers (Private) Limited
  • Nishat Commodities (Private) Limited
  • Lalpir Solar Power (Private) Limited
  • Nishat Real Estates Development Company (Private) Limited
  • Nishat Farms Supplies (Private) Limited
  • Nishat International FZE
  • Nishat Global China Company Limited
  • Nishat UK (Private) Limited
  • Nishat Linen Trading LLC
  • Nishat USA Inc.

Nishat Automobile

edit

In February 2017, it was announced that both companies are venturing to assemble cars inPakistan.[4]

In March 2017, it was announced that Nishat Group will setup their first plant inFaisalabad,Pakistan, which will assemble electric cars.[3]Nishat Group will have a 42% stake in the venture.[3]

Nishat Agriculture Farms

edit

Nishat Agriculture Farms Limited (NAFL), is a subsidiary of Nishat Group focused on agriculture and farming. It has made substantial investments in agriculture since its inception in 2013. The company currently manages five farms spanning 1,500 acres, including a state-of-the-art dairy farm producing packaged milk in collaboration with a Turkish partner.

In 2024, the company announced its plans to invest in corporate farming.[26]

Defunct

edit

See also

edit

References

edit
  1. ^abcHussain, Dilawar (22 March 2021)."Who's who of the PSX".DAWN.COM.
  2. ^ab"The Nishat Hotel starts operations in Lahore".The Express Tribune.19 April 2014.Retrieved1 May2022.
  3. ^abcJamal, Nasir (3 March 2017)."Nishat Group to introduce electric, hybrid cars".Dawn.Retrieved1 May2022.
  4. ^ab"Hyundai to assemble cars in Pakistan in venture with textile group Nishat Mills".Dawn.Reuters.4 February 2017.Retrieved1 May2022.
  5. ^abcSengupta, Hindol (5 May 2011)."The man behind Pakistan's biggest conglomerate".Fortune India.Archived fromthe originalon 1 March 2018.Retrieved1 May2022.
  6. ^abcdefghiSaqib, Muhammad Amjad (2016).Kamyab Log.Lahore:Sang-e-Meel Publications.pp. 105–112.
  7. ^AMJAD, RASHID (1976)."Industrial Concentration and Economic Power in Pakistan".Pakistan Economic and Social Review.14(1/4): 211–261.JSTOR25821361– via JSTOR.
  8. ^"AICL - Stock quote for Adamjee Insurance Company Limited - Pakistan Stock Exchange (PSX)".Pakistan Stock Exchange.Retrieved11 November2022.
  9. ^"ALIFE - Stock quote for Adamjee Life Assurance Company Limited - Pakistan Stock Exchange (PSX)".dps.psx.pk.
  10. ^"MCBIM - Stock quote for MCB Investment Management Limited. - Pakistan Stock Exchange (PSX)".dps.psx.pk.
  11. ^"NML - Stock quote for Nishat Mills Limited - Pakistan Stock Exchange (PSX)".dps.psx.pk.
  12. ^"NPL - Stock quote for Nishat Power Limited - Pakistan Stock Exchange (PSX)".dps.psx.pk.
  13. ^"NCL - Stock quote for Nishat Chunian Limited - Pakistan Stock Exchange (PSX)".Pakistan Stock Exchange.Retrieved11 November2022.
  14. ^"LPL - Stock quote for Lalpir Power Limited - Pakistan Stock Exchange (PSX)".dps.psx.pk.
  15. ^"NCPL - Stock quote for Nishat Chunian Power Limited - Pakistan Stock Exchange (PSX)".dps.psx.pk.
  16. ^"PKGP - Stock quote for Pakgen Power Limited - Pakistan Stock Exchange (PSX)".dps.psx.pk.
  17. ^"DG Khan Cement rakes in Rs2.06 billion profit".The Express Tribune.20 April 2017.Retrieved1 May2022.
  18. ^Tirmizi, Farooq (11 October 2020)."The dominance of the Big Five banks is about to be broken".Profit by Pakistan Today.Retrieved11 November2022.
  19. ^abcde"Nishat Power Limited".Brecorder.6 March 2012.
  20. ^"IPPs lobbying govt for getting fines waived".DAWN.COM.18 October 2010.
  21. ^Kiani, Khaleeq (11 July 2008)."Bidding for six IPPs on 16th".DAWN.COM.
  22. ^"Wärtsilä wins two service contracts to operate and maintain 400 MWe power plants in Pakistan".
  23. ^"First public offering after 10 months".DAWN.COM.4 September 2009.
  24. ^"IPO of Nishat Power".The Nation.8 October 2009.
  25. ^"2 power plants achieve financial closure".DAWN.COM.5 January 2008.
  26. ^Desk, Monitoring (8 July 2024)."Nishat Group expands into corporate farming, local manufacturing".Profit by Pakistan Today.Retrieved23 July2024.{{cite web}}:|last=has generic name (help)
  27. ^abcdeCragg, Claudia (1996).The New Maharajahs: The Commercial Princes of India, Pakistan and Bangladesh.p. 74.ISBN9780712677615.