On the nation’s 78th Independence Day, Islamabad-based think tank Economic Policy & Business Development (EPBD) unveiled a first-of-its-kind “Wealth Perception Index 2025,” spotlighting Pakistan’s 40 most powerful business conglomerates. The list splits evenly between 20 public-listed giants and 20 privately held groups—many of which are now being tagged as “prospective dollar-billionaire” enterprises.
Public Sector Titans Dominate the Top Ranks
The index places Fauji Foundation at the top, with an estimated value of $5.9 billion, followed by Bestway/UBL Group ($4.51bn) and Yunus Brothers/Lucky Group ($2.59bn). Other major players include Nishat Group/MCB, Engro Holdings, and Meezan Bank, all hovering around the $2.3bn mark.
These firms, operating across banking, manufacturing, cement, fertilizers, FMCG, real estate, and media, not only shape Pakistan’s corporate landscape but also set the tone for investment confidence in the country.
Private Sector’s Rising Billion-Dollar Contenders
On the private side, names like Packages Group, Fatima Group, Sapphire Group, Hilton Pharma, Lake City Holdings, and JDW Sugar make the cut. Media powerhouse Jang/Geo Network and education leader Beaconhouse Group also feature prominently—an indication of the country’s shifting wealth dynamics beyond traditional manufacturing sectors.
Economic Impact and Policy Gaps
Collectively, these conglomerates contribute billions in tax revenue and employ tens of thousands. EPBD projects they could double their economic footprint within a decade—provided policy hurdles are addressed.
One of the think tank’s more unconventional recommendations is for senior civil servants to take part in intensive internships inside these corporations. The goal: bridge the “policy-business disconnect” that often stifles private sector growth.
Where the Growth Multiplier Lies
EPBD’s analysis underscores banking, cement, fertilizer, and diversified manufacturing as sectors with the highest multiplier effects on the wider economy. It has urged policymakers to place these at the heart of Pakistan’s growth strategy.
The report also highlights success stories in women-led enterprises, tech firms like Systems Limited, and foreign-listed companies investing in Pakistan. According to EPBD CEO Ahmad Nawaz Sukhera, Pakistan’s entrepreneurial ecosystem has the talent and ambition to fuel long-term economic transformation—if the public and private sectors can work in step.
