Army Welfare Trust Explained

Army Welfare Trust
Type:Private
Location:Rawalpindi, Pakistan
Key People:Lt Gen (R) Nauman Mahmood (Managing Director)
Industry:conglomerate
Num Employees:~30,000 (2020)[1]
Net Income:8-9 billions (usd)
Assets: (2020)
Subsid:Mobil Pakistan

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

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

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]

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. In the same year, stud farm in Boyle Gunj came under the control of AWT.

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.

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

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

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

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

In 2002, AWT established a business in fuel sector called Askari CNG.[7] 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.[7] [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.[7] In the same year, Askari Apparel was established in Lahore.[7]

In 2015, AWT inaugurated Askari Blue Lagoon in Faisalabad.[7]

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

Management

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

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

Listed on Stock exchange

Unlisted

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

Former

See also

Notes and References

  1. Web site: Army Welfare Trust (AWT) - THE ASKARI GROUP OF COMPANIES. www.awt.com.pk.
  2. Web site: Industrial development. 6 August 2020.
  3. Book: The Military as an Economic Actor: Soldiers in Business . Brömmelhörster . Jörn . . 2004 . 9780333999288 . Despite the fact that it already dominates the Fauji Foundation, the Army nonetheless established another foundation, the Army Welfare Trust (AWT). Although the Trust only became fully operational in 1977, it was originally established in 1971 when it was registered as a ‘society’ under the Societies Registration Act of 1860, with an endowment of Rs 0.7 million. The trust runs 26 independent projects and is currently valued at Rs 17 billion. The organization is controlled from the Army General Headquarters (GHQ) with the service chief acting as the head of its governing board. He is assisted by all of his senior staff officers. The organization is divided under two heads, AWT and Askari. Operations with greater private sector investment or shareholding have been placed under Askari. The foundation provides jobs to approximately 5,000 ex-servicemen.. 126–127 . Paes . Wolf-Christian.
  4. Web site: Milestones in the History of AWT. 2016-07-21.
  5. Web site: 50 commercial entities being run by armed forces. Wasim. Amir. 2016-07-21. 2016-07-21.
  6. Web site: History of the Army Welfare Trust.
  7. Web site: Army launched most business ventures during dictatorships, Senate told . Ahmad . Noorani . July 22, 2016 . The News International.
  8. Web site: Askari Fuels.
  9. Web site: Askari Farms and Seeds.
  10. Web site: Citi pharma set to be Pakistan's biggest pharma IPO . Ariba . Shahid . April 8, 2021 . Profit by Pakistan Today.
  11. Web site: AWT Investment for welfare of ex-servicemen launched . Business Recorder.
  12. Web site: Lahore - Karachi . Askari General Insurance . 2001-09-13 . https://web.archive.org/web/20221201123008/https://www.agico.com.pk/ . 2022-12-01 . live . 2022-12-21.
  13. Web site: Askari Life – Welcome . askarilife.com . 2005-02-14 . https://web.archive.org/web/20220625081429/https://askarilife.com/ . 2022-06-25 . live . 2022-12-21.
  14. Web site: Askari Aviation Pvt. Ltd – Aviation Services Pakistan, Charter Services, Airport Services . askariaviation.com . 2001-04-17 . https://web.archive.org/web/20221001135244/https://askariaviation.com/ . 2022-10-01 . live . 2022-12-21.
  15. Web site: 'Askari Airline not to take off anytime soon'. Syeda. Masooma. July 2, 2020. Profit by Pakistan Today.
  16. Web site: Welcome to Askari Aviation. www.askaritravels.com.
  17. Web site: Welcome to Askari Travels & Tours. www.askaritravels.com.
  18. Web site: Mal Pakistan - Energy to Move you. www.mal.com.pk.
  19. Web site: MAL Pakistan Ltd (AWT) - THE ASKARI GROUP OF COMPANIES. www.awt.com.pk.
  20. Web site: AWT Investments – A Wholly Owned Subsidiary Of Army Welfare Trust . awtinvestments.com . 2017-10-27 . https://web.archive.org/web/20221201123332/https://awtinvestments.com/ . 2022-12-01 . live . 2022-12-21.
  21. Web site: MedAsk Pvt Ltd.. www.medask.com.pk.
  22. Web site: Askari Enterprises. www.askarienterprises.com.pk.
  23. Web site: Army Welfare Sugar Mills.
  24. Web site: Army the second largest employer . DAWN.
  25. Web site: Askari Guards . Askari Guards . 2008-04-11 . https://web.archive.org/web/20221201122758/https://www.askariguards.com/ . 2022-12-01 . live . 2022-12-21.
  26. Web site: Home. August 23, 2022.
  27. Web site: Askari Woolen Mills.
  28. Web site: Askari Development & Holding (AWT) - THE ASKARI GROUP OF COMPANIES.
  29. Web site: Home ASP - Askari Shoes. March 4, 2023.
  30. Web site: Jolidays – AWT Tourism – Let's Plan your next Journey with Jolidays !.
  31. Web site: Askari Fuels – A Subsidiary of Army Welfare Trust (AWT) . askarifuel.com . 2018-10-13 . https://web.archive.org/web/20221203223638/https://askarifuel.com/ . 2022-12-03 . live . 2022-12-21.
  32. Web site: Askari Fuels – A Subsidiary of Army Welfare Trust (AWT).
  33. Web site: Askari Enterprises . Askari Enterprises . 2017-01-22 . https://web.archive.org/web/20221203223645/https://www.askarienterprises.com.pk/ . 2022-12-03 . live . 2022-12-21.
  34. Web site: Askari Farms and Seeds (AWT) - THE ASKARI GROUP OF COMPANIES .
  35. Web site: AWT Real Estate – A subsidiary of Army Welfare Trust – AWT Realestate Islamabad, Lahore, Peshawar . awtrealestate.com.pk . 2014-11-03 . https://web.archive.org/web/20221201122801/https://awtrealestate.com.pk/ . 2022-12-01 . live . 2022-12-21.
  36. Web site: Askari Corporate Tower – Where cutting-edge design meets peace of mind.
  37. Web site: Blue Lagoon and Army Welfare Mess (AWT) - THE ASKARI GROUP OF COMPANIES. www.awt.com.pk.
  38. Web site: 50 commercial entities being run by armed forces . 21 July 2016 .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Army Welfare Trust".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.