Mian Mansha, Story Of Richest Man In Pakistan
Mian Mansha, A Versatile Businessman
Mian Mansha is a leading businessman and richest man in Pakistan who has business ventures set up in a variety of different industries, for example textile, cement, power generation, banking, dairy, real estate, insurance, etc. He is Chairman of the largest business conglomerate. He is one of Pakistan’s leading industrialists and entrepreneurs, and is the architect behind the success of Nishat Group – a success story not just in Pakistan but recognized globally.
Biography of Mian Mansha
The richest man in Pakistan, Mian Mansha was the only son of Mian Mohammad Yahya and his father’s 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.
In 1970, Nishat comprised 6 units in West Pakistan, 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.
Mian Mansha took over reins of the Nishat Group, then consisting of a solitary textile mill, at the age of 21. Since then, through hard work, sharp business acumen and determination, He expanded and diversified the Nishat Group. Today it is one of the largest private employers in the country, a significant foreign exchange earner & one of the largest payers of taxes to the national exchequer.
Growth of Nishat Group
With Mian Muhammad Mansha at the helm, the Nishat Group has made its mark on almost every major industry in Pakistan: the largest textile company in the country – Nishat Mills; the largest general insurer – Adamjee Insurance; the second largest cement manufacturer – DG Khan Cement; the country’s most profitable bank – MCB Ltd are just a few of the success stories in a wide portfolio. The Nishat Group also has global outreach with operations in USA, UK, UAE, Sri Lanka, Hong Kong, Bahrain and Azerbaijan, and additional strategic partnerships with leading banking led business Groups from UAE, South Africa & Malaysia.
Mian Muhammad Mansha has been serving as Chairman of MCB Bank since 1991. In that time, the bank has shown exponential growth, both in terms of network and financial ranking. His leadership qualities and incessant drive for success has converted MCB into one of the country’s most profitable banks. It is now ranked as the largest bank in terms of market capitalization and is also the first Pakistani bank to be listed on the London Stock Exchange. MCB received the prestigious Euro money award for Excellence seven times and was adjudged “The Best Bank in Pakistan” by Asia Money.
Mian Mansha is also a member of the Board of Shalamar Medical & Dental College and serves as the Director of the Punjab Board of Investment & Trade (PBIT) and the Engineering Management Foundation (FASAT). In addition, he is a Board Member of the Commonwealth Business Council and Atlantic Council and also member of the International Advisory Board at Babson College, Boston, USA.
Highest Tax Payer in Pakistan
Mian Mohammad Mansha is richest man in Pakistan and is among the highest tax-paying individuals in the country. By 2015, he has paid a total tax of Rs 100 billion, which is a record-breaking public achievement.
Raking In the Awards
Mian Muhammad Mansha is the proud recipient of the prestigious Sitara-e-Imtiaz (the Star of Excellence) civil award, bestowed on him by former president Pervez Musharraf.