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Army Welfare Trust

(Redirected from Askari Group of Companies)

Army Welfare Trust (AWT), (Urdu: آرمی ویلفیر ٹرسٹ) also known as Askari Group, is a Pakistani conglomerate based in Rawalpindi.

Army welfare Trust
Company typePrivate
Industryconglomerate
Founded1971; 53 years ago (1971)
HeadquartersRawalpindi, Pakistan
Key people
Lt Gen (R) Nauman Mahmood (Managing Director)
8-9 billions (usd)
Total assetsIncrease Rs. 40 billion (US$140 million) (2020)[1]
Number of employees
~30,000 (2020)[1]
SubsidiariesMobil Pakistan
Websiteawt.com.pk

The Army Welfare Trust, along with Fauji Foundation, are run by ex-military personnel of the Pakistan Army. The companies provide employment opportunities to ex-military personnel and generate funds for the welfare and rehabilitation of orphans, widows of the deceased soldiers, and the disabled personnel of the army.[2]

History

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AWT Plaza on I.I. Chundrigar Road in Karachi

Army Welfare Trust (AWT) was established in 1971 as a society under the Societies Registration Act of 1860, with an initial endowment of Rs 0.7 million.[3] It became fully operational in 1977.[3] The first commercial unit of the trust was a stud farm located in Probyanabad which it received from Pakistan Army in 1972.[4][5][6]

In 1984, AWT Sugar Mills was established in Badin with an initial crushing capacity of 2000 tonnes per day (TPD) which was later increased to 3400 TPD.[7] In the same year, stud farm in Boyle Gunj came under the control of AWT.[6]

In 1988, AWT Rice Mills was established in Rakh Baikunth with the capacity to process 5,500 tonnes of paddy and 3,000 tonnes of rice.[7]

In 1990, AWT founded Askari Shoes with a factory in Lahore.[6] In the same year, Army Welfare Mess and Blue Lagoon Restaurant was launched in Rawalpindi.[6]

In 1991, AWT launched housing schemes in Lahore, Badaber, and Sangjani near Islamabad.[6]

In 1995, AWT entered insurance and aviation business and established Askari General Insurance and Askari Aviation Services.[6]

In 1996, AWT acquired 80 percent shareholding of the Wah Cement Company under the government's privatization policy.[7] In the same year, AWT established Mobil Askari Lubricants in a joint venture with Mobil Oil Corporation, with a 30 percent equity share.[7][6] The lubricant blending and distribution plant was constructed in Karachi and it began commercial production in 1997.[7] Askari Guards was also established in 1996.[6]

In 2002, AWT established a business in fuel sector called Askari CNG.[6] It was renamed as Askari Fuels in May 2014.[8]

In 2004, AWT founded Askari Seeds which now has three factories located in Lahore, Okara, and Sukkur.[6][9]

In 2013, AWT sold its pharmaceuticals business located in Phool Nagar, Askari Pharmaceuticals, which was later renamed as Citi Pharma.[10]

In 2014, AWT acquired Fauji Security Services from Fauji Foundation.[6] In the same year, Askari Apparel was established in Lahore.[6]

In 2015, AWT inaugurated Askari Blue Lagoon in Faisalabad.[6]

In 2017, AWT founded an asset management company named AWT Investment Company in a joint venture with Pak Brunei Investment Company.[11]

Management

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Army Welfare Trust is administered from the General Headquarters (GHQ) of Pakistan Army, where the service chief serves as the head of the governing board, supported by senior staff officers.[3]

Subsidiaries

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It is one of the largest conglomerates in Pakistan. The assets the group owns are:

Listed on Stock exchange

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  • Askari General Insurance Company Limited[12]
  • Askari Life Assurance Company Limited[13]

Unlisted

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Following are the companies which are not listed on Pakistani stock exchanges:

  • Askari Aviation[14]
  • Askari Airline (Planned)[15]
  • Askari Airport Services[16]
  • Askari Flying Academy[16]
  • Askari Travels & Tours[17]
  • Mobil Pakistan (MAL Pakistan Limited)[18][19]
  • AWT Investments Limited[20]
  • MEDASK[21]
  • Askari Project, Lahore
  • Askari Enterprises[22]
  • Askari Welfare Rice Mill[3]
  • Army Welfare Sugar Mills[3][23]
  • Askari Welfare Pharmaceutical Project in Phool Nagar[3][24]
  • Army Welfare Hosiery Unit[3][24]
  • Askari Fish Farm[3][24]
  • Askari Guards[3][25]
  • Fauji Securities Services Pvt Ltd (acquired from Fauji Foundation)[26]
  • Askari Woolen Mills[3][27]
  • Askari Development and Holdings (Pvt) Ltd[28]
  • Askari Shoes[3][29]
  • Jolidays[30]
  • Askari CNG[31]
  • Askari Fuels[32]
  • Askari Enterprises Pvt Ltd[33]
  • Askari Farms and Seeds[34]
  • Askari Real Estate[35]
  • Askari Corporate Tower, Lahore[36]
  • Army Welfare Commercial Project[3]
  • Askari Welfare Saving Scheme[3][24]
  • Askari Associate Limited[3][24]
  • Askari Information Service[3][24]
  • Askari Power Limited[3][24]
  • Askari Commercial Enterprises[3][24]
  • Askari Travel Agencies[3]
  • Askari Aviation[3]
  • AWT Commercial Plazas[3]
  • Askari Housing Schemes[3]
  • Blue Lagoon Rawalpindi
  • Blue Lagoon, Faisalabad
  • Askari Apparel, Lahore
  • Army Welfare Mess and Blue Lagoon Restaurant, Rawalpindi[37]
  • Magnesite Refineries Limited[3][24]
  • Two stud farms in Pakpattan and Okara[38]

Former

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See also

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References

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  1. ^ a b "Army Welfare Trust (AWT) - THE ASKARI GROUP OF COMPANIES". www.awt.com.pk.
  2. ^ "Industrial development". Retrieved 6 August 2020.
  3. ^ a b c d e f g h i j k l m n o p q r s t u v w Brömmelhörster, Jörn; Paes, Wolf-Christian (2004). The Military as an Economic Actor: Soldiers in Business. Palgrave Macmillan. pp. 126–127. ISBN 9780333999288.
  4. ^ "Milestones in the History of AWT". Retrieved 2016-07-21.
  5. ^ Wasim, Amir (2016-07-21). "50 commercial entities being run by armed forces". Retrieved 2016-07-21.
  6. ^ a b c d e f g h i j k l m Noorani, Ahmad (July 22, 2016). "Army launched most business ventures during dictatorships, Senate told". The News International.
  7. ^ a b c d e "History of the Army Welfare Trust".
  8. ^ "Askari Fuels".
  9. ^ "Askari Farms and Seeds".
  10. ^ Shahid, Ariba (April 8, 2021). "Citi pharma set to be Pakistan's biggest pharma IPO". Profit by Pakistan Today.
  11. ^ "AWT Investment for welfare of ex-servicemen launched". Business Recorder.
  12. ^ "Lahore - Karachi". Askari General Insurance. 2001-09-13. Archived from the original on 2022-12-01. Retrieved 2022-12-21.
  13. ^ "Askari Life – Welcome". askarilife.com. 2005-02-14. Archived from the original on 2022-06-25. Retrieved 2022-12-21.
  14. ^ "Askari Aviation Pvt. Ltd – Aviation Services Pakistan, Charter Services, Airport Services". askariaviation.com. 2001-04-17. Archived from the original on 2022-10-01. Retrieved 2022-12-21.
  15. ^ Masooma, Syeda (July 2, 2020). "'Askari Airline not to take off anytime soon'". Profit by Pakistan Today.
  16. ^ a b "Welcome to Askari Aviation". www.askaritravels.com.
  17. ^ "Welcome to Askari Travels & Tours". www.askaritravels.com.
  18. ^ "Mal Pakistan - Energy to Move you". www.mal.com.pk.
  19. ^ "MAL Pakistan Ltd (AWT) - THE ASKARI GROUP OF COMPANIES". www.awt.com.pk.
  20. ^ "AWT Investments – A Wholly Owned Subsidiary Of Army Welfare Trust". awtinvestments.com. 2017-10-27. Archived from the original on 2022-12-01. Retrieved 2022-12-21.
  21. ^ "MedAsk Pvt Ltd". www.medask.com.pk.
  22. ^ "Askari Enterprises". www.askarienterprises.com.pk.
  23. ^ "Army Welfare Sugar Mills".
  24. ^ a b c d e f g h i "Army the second largest employer". DAWN.
  25. ^ "Askari Guards". Askari Guards. 2008-04-11. Archived from the original on 2022-12-01. Retrieved 2022-12-21.
  26. ^ "Home". August 23, 2022.
  27. ^ "Askari Woolen Mills".
  28. ^ "Askari Development & Holding (AWT) - THE ASKARI GROUP OF COMPANIES".
  29. ^ "Home ASP - Askari Shoes". March 4, 2023.
  30. ^ "Jolidays – AWT Tourism – Let's Plan your next Journey with Jolidays !".
  31. ^ "Askari Fuels – A Subsidiary of Army Welfare Trust (AWT)". askarifuel.com. 2018-10-13. Archived from the original on 2022-12-03. Retrieved 2022-12-21.
  32. ^ "Askari Fuels – A Subsidiary of Army Welfare Trust (AWT)".
  33. ^ "Askari Enterprises". Askari Enterprises. 2017-01-22. Archived from the original on 2022-12-03. Retrieved 2022-12-21.
  34. ^ "Askari Farms and Seeds (AWT) - THE ASKARI GROUP OF COMPANIES".
  35. ^ "AWT Real Estate – A subsidiary of Army Welfare Trust – AWT Realestate Islamabad, Lahore, Peshawar". awtrealestate.com.pk. 2014-11-03. Archived from the original on 2022-12-01. Retrieved 2022-12-21.
  36. ^ "Askari Corporate Tower – Where cutting-edge design meets peace of mind".
  37. ^ "Blue Lagoon and Army Welfare Mess (AWT) - THE ASKARI GROUP OF COMPANIES". www.awt.com.pk.
  38. ^ "50 commercial entities being run by armed forces". 21 July 2016.
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