Ittefaq Group

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Ittefaq Group
Steel and Metallurgy
Industry Material science and Metallurgical Engineering
Genre Commercial
Public
Founded 1939
Founder Mian Barkat Ali
Muhammad Sharif
Mian Muhammad Siraj
Mian Muhammad Bashir
Mian Abdul Aziz
Mian Muhammad Shafi
Mian Meraj Din
Headquarters Lahore, Pakistan
Key people
Mian Nawaz Sharif
Chairman
Products Hot rolled Products
Billets
Cold-rolled Products
Galvanised Products
Electronic materials
Services Production of Iron and Steel

The Ittefaq Group of Industries (English The Unity) is a Pakistani integrated steel producer with major operations in Punjab.[1] It was founded by seven brothers, the major contribution made by Mian Barkat Ali and Muhammad Sharif, father of the current prime minister Nawaz Sharif.[1]

Mian Barkat Ali, Muhammad Sharif along with the other five brothers, established a foundry in 1939. By 1971, it had become the largest industry in all of Pakistan.[2] In 1976, Prime Minister Zulfikar Ali Bhutto nationalized the steel industry, including the Ittefaq family business empire — Ittefaq Group.[2] In 1985, General Mohammad Zia ul-Haq returned the business after developing political links with the Sharifs.[2]

During the 1980s, Ittefaq Group expanded from five mills to 30 businesses which produced steel, sugar, paper, and textiles and annual revenues were estimated at $400 million.[2]

References[edit]

  1. ^ a b Global Security. "Sharif Family". Global Security. 
  2. ^ a b c d Baker, Raymond (2005). Capitalism's Achilles heel: Dirty Money and How to Renew the Free-market System. John Wiley and Sons. pp. 82–83. ISBN 978-0-471-64488-0. Retrieved 20 October 2011.