Ittefaq Group
| Company type | Steel and Metallurgy |
|---|---|
| Industry | Material science and Metallurgical Engineering |
| Genre | Commercial Public |
| Founded | 1989 |
| Founder | Muhammad Sharif |
| Headquarters | , |
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 industrialist Muhammad Sharif, father of the current prime minister Nawaz Sharif.[1]
Muhammad Sharif along with his six brothers, established a foundry in 1969.[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.[2] Its annual revenues were estimated at $400 million.[2]
References
- ^ a b Global Security. "Sharif Family". Global Security.
- ^ a b c d e 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.