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Army Welfare Trust

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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

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 deceased soldiers, and 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. Archived from the original on 2016-07-14. Retrieved 2016-07-21.
  2. ^ "Industrial development". Archived from the original on 21 June 2023. 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. 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.
  4. ^ "Milestones in the History of AWT". Archived from the original on 2016-07-03. Retrieved 2016-07-21.
  5. ^ Wasim, Amir (2016-07-21). "50 commercial entities being run by armed forces". Archived from the original on 2018-12-25. 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. Archived from the original on July 8, 2024. Retrieved July 8, 2024.
  7. ^ a b c d e "History of the Army Welfare Trust". Archived from the original on 2024-07-08. Retrieved 2024-07-08.
  8. ^ "Askari Fuels".
  9. ^ "Askari Farms and Seeds". Archived from the original on 2022-12-01. Retrieved 2022-12-01.
  10. ^ Shahid, Ariba (April 8, 2021). "Citi pharma set to be Pakistan's biggest pharma IPO". Profit by Pakistan Today. Archived from the original on July 24, 2023. Retrieved July 8, 2024.
  11. ^ "AWT Investment for welfare of ex-servicemen launched". Business Recorder. Archived from the original on 2024-07-08. Retrieved 2024-07-08.
  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. Archived from the original on December 13, 2023. Retrieved December 13, 2023.
  16. ^ a b "Welcome to Askari Aviation". www.askaritravels.com. Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  17. ^ "Welcome to Askari Travels & Tours". www.askaritravels.com. Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  18. ^ "Mal Pakistan - Energy to Move you". www.mal.com.pk. Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  19. ^ "MAL Pakistan Ltd (AWT) - THE ASKARI GROUP OF COMPANIES". www.awt.com.pk. Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  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. Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  22. ^ "Askari Enterprises". www.askarienterprises.com.pk. Archived from the original on 2022-12-03. Retrieved 2022-12-03.
  23. ^ "Army Welfare Sugar Mills".
  24. ^ a b c d e f g h i "Army the second largest employer". DAWN. Archived from the original on 2024-07-08. Retrieved 2024-07-08.
  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. Archived from the original on December 13, 2023. Retrieved December 13, 2023.
  27. ^ "Askari Woolen Mills". Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  28. ^ "Askari Development & Holding (AWT) - THE ASKARI GROUP OF COMPANIES". Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  29. ^ "Home ASP - Askari Shoes". March 4, 2023. Archived from the original on December 13, 2023. Retrieved December 13, 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)". Archived from the original on 2022-12-03. Retrieved 2022-12-03.
  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". Archived from the original on 2022-12-01. Retrieved 2022-12-01.
  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". Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  37. ^ "Blue Lagoon and Army Welfare Mess (AWT) - THE ASKARI GROUP OF COMPANIES". www.awt.com.pk. Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  38. ^ "50 commercial entities being run by armed forces". 21 July 2016. Archived from the original on 13 December 2023. Retrieved 13 December 2023.
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