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The often repeated refrain from Fauji businesses is that they are successful because they have superior management.  But the facts show the reverse.  Case in point the bailouts of Army Welfare Trust (AWT):

The three bailouts

1995–96 (first bailout): Islamabad extended financial assistance to AWT as its cement-driven losses first emerged. The specific rupee amount for this round isn't broken out in the source — it's referenced only as the first of three rescues.

1999 (second bailout): The government provided a Rs 2.5 billion (≈US$43 million) financial guarantee to AWT's lending banks (rather than a direct cash grant) to cover its obligations. As a condition, the Nawaz Sharif government instructed AWT to sell two commercial plazas in Rawalpindi and Karachi to help close the shortfall — a condition that was never actually carried out.

2001 (third bailout): AWT requested a Rs 5.4 billion (≈US$93 million) financial relief package to cover an accumulated deficit of Rs 15 billion (≈US$259 million). The request went to the Economic Coordination Council (ECC), which again told AWT to sell the same two commercial plazas to plug the gap — and again, the sale never happened. This occurred under the Musharraf military government, after the 1999 coup.

The political fallout

Sharif-era commerce minister Ishaq Dar pushed for the military to merge Fauji Foundation and AWT and overhaul their management, conveying this to army chief Pervez Musharraf directly. Dar argued the 1999 bank guarantee was effectively a government promise to cover AWT's debt if it defaulted — a "letter of comfort" the government ultimately issued. The then-SBP Governor, Ishrat Hussain, pushed back, calling the bailout routine treatment available to any company, since the lending banks had taken AWT's pledged fixed assets as collateral. Notably, when Pakistan's official list of loan defaulters was released in 2003, AWT's name appeared on it alongside Nawaz Sharif's own Ittefaq Group.[archive]

Could a private company receive 3 bailouts of Rs 7.9 Billion?

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Fauji Foundation and its sister military-welfare trusts collectively own more than 60 enterprises, ranging from very large corporations to small unincorporated business ventures. This profile is part of an ongoing effort to document all such businesses using publicly available and verifiable information. We are peace-loving, passionate Pakistanis working for the betterment of the country.

1. Company Overview

Askari Fuels (AF) is a petroleum-retail business unit of the Army Welfare Trust (AWT) — a sister military-welfare organisation to Fauji Foundation, also known as the Askari Group. Askari Fuels markets CNG, multi-fuel (petrol and diesel), lubricants, and allied services through a nationwide network of filling stations. Revenue generated by the unit is directed toward AWT's welfare programmes for the Pakistan Army, including education and housing projects for retired soldiers and the families of Shuhada (martyrs) (Askari Fuels — Company Profile).

Brief history: AWT entered the fuel sector in 2002 by launching a new business unit named Askari CNG, comprising CNG stations spread across Pakistan; the first station became operational in July 2003 (Askari Fuels; Army Welfare Trust — Wikipedia). As the business diversified beyond compressed natural gas into multi-fuel and allied retail services, the unit was rebranded Askari Fuels (AWT) in May 2014 (Askari Fuels — Company Profile). The brand won the "Emerging Brand of the Year" award for 2014–15 in recognition of its quality standards (Askari Fuels). Between May 2016 and April 2018, under CEO Brig (R) Zia-ul-Qamar Raja, the unit underwent an operational turnaround of its then loss-making network, reporting a 230% increase in profit within just over a year — described as surpassing the combined profits of the previous 13 years — and was recognised as AWT's Best Business Unit for 2016–17 (Brig Zia Ul Qamar Raja — LinkedIn).

Head office: Rawalpindi, Punjab, Pakistan. Business directories list the registered office at #118, Lane 2, Street 12, Rawalpindi (Askari Fuels AWT — LinkedIn; SignalHire); an alternate directory listing cites House 593, Street 10, Chaklala Scheme 3, Rawalpindi (Askari Fuels — LinkedIn). Parent body AWT is headquartered at the 8th Floor, AWT Plaza, The Mall, Rawalpindi (AWT Pakistan — LinkedIn).

Senior leadership: The company's official website currently lists Usman Khalid as Acting Chief Executive Officer (also identified elsewhere on the site as General Manager) (Askari Fuels; Askari Fuels — Our Team). A professional-network profile separately lists Farooq Zaman as Chief Executive Officer of Askari Fuels AWT from August 2024 (Farooq Zaman — LinkedIn); public sources do not fully reconcile the two claims, and no single authoritative leadership announcement was found confirming the incumbent as of the most recent update. Other named management includes Anwar Anjum (Senior Manager Finance) and Qasim Hameed (Manager Operations) (Askari Fuels — Our Team).

2. Operations and Facilities

Main operations: Retail marketing and distribution of CNG and multi-fuel (petrol and diesel), together with lubricants and allied convenience services, sold through a countrywide filling-station network. The unit also operates in coordination with government-sector bodies, fuel associations, and oil marketing companies (Askari Fuels).

Facilities: Askari Fuels operates a nationwide network of CNG and multi-fuel filling stations. Company and directory sources describe between roughly 24 and 29 CNG and multi-fuel stations established since 2002, of which 15–17 have since been upgraded with Multi-Fuel (MF) facilities, with further MF conversions stated as planned (Askari Fuels — Company Profile; Askari Fuels AWT — LinkedIn; Askari Fuels — LinkedIn). The company's website also references the launch of an Askari filling station in Peshawar, without further detail on date or address (Askari Fuels).

Operational scale: AWT does not publicly disclose station counts, sales volumes, storage capacity, or headcount for this business unit. A third-party business-data provider estimates Askari Fuels AWT's annual revenue at roughly USD 10 million to 50 million; this is an unverified external estimate rather than an official disclosure (SignalHire).

3. Products or Services

Category	Description
CNG	Compressed natural gas retailing — the unit's original business line, launched in 2002 as Askari CNG (Askari Fuels)
Multi-Fuel	Marketing and supply of commercial and industrial fuels (petrol and diesel) at mega multi-fuel sites (Askari Fuels)
Lubricants	A range of lubricants marketed to meet commercial and retail demand (Askari Fuels)
Speed Wash	Interior and exterior vehicle car-wash services (Askari Fuels)
Tyre Care	Vehicle servicing, repair, and maintenance (Askari Fuels)
Tuck Shop	Convenience retail and food offerings for travellers and customers at filling stations (Askari Fuels)

The unit trades under the brand names Askari CNG (legacy) and Askari Fuels (current), both owned by the Army Welfare Trust (Army Welfare Trust — Wikipedia).

4. Financials

Askari Fuels is a business unit of the Army Welfare Trust, a private welfare trust that — unlike listed AWT-affiliated companies such as Askari Bank or Askari Life Assurance — does not publish independently audited, publicly available financial statements or annual reports disaggregated by business unit. No verified gross revenue, after-tax profit, or year-over-year figures for Askari Fuels specifically could be located in public disclosures, official filings, or news reporting as of this profile's preparation.

Metric	Latest available year	One year prior	Year-over-year comparison
Gross revenue	Not publicly disclosed	Not publicly disclosed	Not available
After-tax profit	Not publicly disclosed	Not publicly disclosed	Not available
Profit margin	Not publicly disclosed	Not publicly disclosed	Not available

The only quantified performance indicator found in public sources is historical: during the 2016–2018 tenure of then-CEO Brig (R) Zia-ul-Qamar Raja, the business unit reported a 230% increase in profit within roughly a year, on a base of over 65 previously loss-making CNG and multi-fuel stations, a figure described as exceeding the unit's combined profits over the preceding 13 years (Brig Zia Ul Qamar Raja — LinkedIn). A commercial data provider separately estimates current annual revenue in the range of USD 10–50 million; this figure is not sourced to any AWT disclosure and should be treated as indicative only (SignalHire).

5. Future Plans

Per the company's own statements, Askari Fuels' stated forward strategy centres on three elements:

• Network expansion: Continued addition of mega multi-fuel sites in major cities across Pakistan, intended to support business development and to ensure fuel supply with assured quality and quantity standards (Askari Fuels).
• Facility upgrades: Ongoing conversion of existing CNG stations to Multi-Fuel (MF) facilities, building on the 15–17 stations already upgraded, with additional MF stations described as likely to come online (Askari Fuels — Company Profile).
• Service diversification: Continued build-out of allied retail services — lubricants, car wash (Speed Wash), tyre care, and convenience retail (Tuck Shop) — alongside the core fuel-marketing business, aimed at strengthening customer offerings at filling-station sites (Askari Fuels).

No public disclosures were found regarding mergers, restructuring, external capital raising, or joint ventures involving Askari Fuels as of this profile's preparation.

Several sub reddits are threatening permanent ban on our re-posting.  We have negotiated to allow us if we only re-posted monthly on their sites.

Therefore our reach is considerably reduced.  We urge our loyal users to spread the word for this sub reddit (r/FaujiBusinessExaminer) and our web site, BDSPakFauj with com. 

Thanks! Pakistan Zindabad!

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Most Pakistani motorways are constructed under Public-Private Partnership (PPP) model where a private group or company finances, builds, and runs a highway for a set time before giving it back to the government.  During the time of operation it is accruing profits which offset the initial investment.  It is commonly referred to as BOT (Build, Operate, Transfer).  Many motorways were constructed by FWO, an army organization, therefore in itself it cannot commercially operate the motorway.  So a clever way was devised by forming a joint venture with a private organization which can be a principal of BOT operation.  The following are the joint venture companies:

LAFCO (Pvt) Ltd — formed for the Lahore-Sheikhupura-Faisalabad motorway, with FWO holding 65% and three private construction firms (Khalid Rauf & Co, Habib Rafiq, Sachal Engineering) holding the rest (LAFCO; Business Recorder)lafco+1

MORE (Motorway Operations & Rehabilitation Engineering Pvt Ltd) — a wholly-owned FWO subsidiary/SPV for the M-2 Lahore-Islamabad motorway concessionpacra

SCORE (Superhighway Construction, Operation and Rehabilitation Engineering Pvt Ltd) — wholly-owned FWO SPV for the M-9 Karachi-Hyderabad motorwaydocs.vis.com

LSMIM — a wholly-owned FWO subsidiary formed for the Lahore-Sialkot motorway, explicitly created "to decouple its revenues and liabilities from those of the parent company"tribune.com

FWO-SMC — The M-12 project was awarded in September 2021 to M/s Sialkot Kharian Infrastructure Management (Pvt) Ltdglobalvillagespace  it as a joint venture between FWO and Sultan Mahmood & Co (Zameen News; Focus Pakistan).zameen+1

August 5, 2026: The Economic Coordination Committee, chaired by Finance Minister Muhammad Aurangzeb, approved a much larger package — Rs 34.6 billion in total sovereign guarantees — after the project's cost nearly doubled over five years of delays. This comprises Rs 27.62 billion in new guarantees plus a rollover of the earlier Rs 6.944 billion guarantee.

Thus the FWO joint venture got Sovereign guarantee!

Courts have not endorsed this structure — several rulings cut the other way:

• Islamabad High Court, 2022 (Margalla Hills case): ruled that "no branch [of the armed forces] can undertake any activity or perform functions outside their respective establishments unless expressly directed or called upon to do so," rejecting the Army's ownership/commercial claims over state land and declaring a Navy-run commercial golf course illegal
• Supreme Court, Feb 2023 (FWO cement plant case in KP): the Court explicitly asked the Attorney General to "explain the legal status of FWO and the ambit of permissible activities it may engage in," and ultimately held the land could not be owned by FWO, could not be mortgaged without provincial government approval, and had to revert to the KP government after a fixed period — a ruling that treated FWO's commercial capacity as narrow and conditional rather than an inherent right
• Supreme Court, Feb 2024: Chief Justice Qazi Faez Isa openly told the state's law officer "the military should only focus on defense, not business," while pressing for clarity on military commercial activity generally

Where do the profits go?

The “raison d'être” for fauji businesses is to provide for the welfare of the army personnel.  But FWO does not claim such.  So where are the profits going? 

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Fauj owns 60+ enterprises, some very large corporations and some small unincorporated business ventures. We plan to document all these businesses. Our source is publicly available and verifiable information. We are peace-loving, passionate Pakistanis, working for the betterment of the country.

1. Company Overview

Askari Farms and Seeds (also styled Askari Farms & Seeds) is an agriculture-sector business unit of the Army Welfare Trust (AWT), the Pakistan Army-run conglomerate also known as the Askari Group (Rozee.pk; Army Welfare Trust, Wikipedia). It describes itself as "a prominent profit-earning venture in Pakistan's agriculture sector," contributing to "production of food, fibre and other farm commodities" with the stated aim of "helping promote the overall agricultural economy of the Nation" (Rozee.pk).

AWT's involvement in agriculture traces back to the trust's very first commercial undertaking: a stud (horse-breeding) farm at Probyanabad, transferred to AWT by the Pakistan Army in 1972, followed by a further stud farm at Boyle Gunj in 1984 (Army Welfare Trust, Wikipedia). Government disclosures to the Senate in 2016 list "two stud farms in Pakpattan and Okara" among AWT's commercial projects (Dawn; Daily Pakistan). AWT expanded into certified seed production in 2004 with the founding of Askari Seeds, which today operates three factories in Lahore, Okara, and Sukkur; the farms and the seed business are now administered together as Askari Farms and Seeds (Army Welfare Trust, Wikipedia).

As with other AWT commercial units, Askari Farms and Seeds does not maintain a separate public head office address; AWT's own head office — which sets overall strategic and financial direction for the group — is located at AWT Plaza, The Mall, Rawalpindi Cantt (AWT Real Estate; PSX filings, Askari Life Assurance). Current professional records show Muhammad Tanveer Arshad as Chief Operating Officer (COO) of Askari Farms and Seeds since July 2025, based in Multan, Punjab; he previously held general-manager roles at agri-input companies Innova Agri Solutions and the Sayban Group (LinkedIn). As with other AWT units, overall administrative, financial, and strategic control ultimately rests with AWT's own governing Committee of Administration (Pakistan Today); a separate "Director General Industries & Farms" post at Askari Group/AWT level provides senior oversight across the trust's industrial and farming units, per publicly listed staff profiles (LinkedIn).

2. Operations and Facilities

Askari Farms and Seeds combines two lines of agricultural activity under AWT: livestock/stud farming and certified seed production and trading.

• Stud (livestock breeding) farms: Two stud farms, located at Pakpattan and Okara, are listed among AWT's commercial projects; an earlier stud farm at Probyanabad (1972) was AWT's first commercial unit, and a further stud farm at Boyle Gunj came under AWT control in 1984 (Army Welfare Trust, Wikipedia; Dawn).
• Seed processing and trading (Askari Seeds): Three factories located in Lahore, Okara, and Sukkur handle seed processing under the Askari Seeds line, founded by AWT in 2004 (Army Welfare Trust, Wikipedia). Government records separately cite an Askari Seeds unit based in Okara (Dawn).
• Regional/field presence: Public professional profiles also place operational and procurement staff in Multan and Sukkur, indicating a field organization spanning multiple agricultural regions of Punjab and Sindh beyond the three named factories (LinkedIn).
• Recent expansion: In late 2025, Askari Seeds Private Ltd. — described as "a project of Army Welfare Trust" — began enlistment, trials, production, and sales and marketing of vegetable seeds in partnership with China's Jewelry Seeds Co. Ltd., stated to support Pakistan's food security (LinkedIn).

No publicly disclosed figures for total farm acreage, herd size, seed-processing tonnage, or staffing levels specific to Askari Farms and Seeds were located in the sources reviewed; the entity is listed among the roughly 16 commercial projects administered by AWT (Dawn; Daily Pakistan).

3. Products or Services

• Certified field-crop seeds: Askari-branded maize/corn seed (including hybrid and fodder varieties such as "Askari Maize Seed Pak Afgoi") is sold through agricultural retailers, alongside other field-crop seed varieties processed at the Lahore, Okara, and Sukkur facilities (Shadab Agri; Army Welfare Trust, Wikipedia).
• Vegetable seeds: A newly launched product line, developed with Chinese partner Jewelry Seeds Co. Ltd., covering enlistment, trials, production, and marketing of vegetable seed varieties for the Pakistani market (LinkedIn).
• Livestock/stud-farm services: Horse breeding and related stud-farm operations at the Pakpattan and Okara farms, consistent with AWT's original 1972 commercial mandate (Army Welfare Trust, Wikipedia).
• General farm commodities: The company describes its broader mission as contributing to "production of food, fibre and other farm commodities" for the national agricultural economy, without naming a fixed product catalogue beyond seeds and livestock (Rozee.pk).

All products are marketed under the "Askari" brand family used across AWT's commercial ventures; no separate consumer sub-brand distinct from Askari Seeds/Askari Farms and Seeds was identified.

4. Financials

Askari Farms and Seeds is a privately administered unit of AWT and does not appear to publish a standalone annual report or audited financial statements for public access.

Metric	Most recent year	One year prior	Year-over-year comparison
Gross revenue	Not publicly disclosed	Not publicly disclosed	No public standalone figures available
After-tax earnings	Not publicly disclosed	Not publicly disclosed	No public standalone figures available
Profit margin	Not publicly disclosed	Not publicly disclosed	Cannot be calculated without verified figures

AWT itself does not publish a consolidated, group-wide annual report accessible to the public; only AWT's separately listed subsidiaries — such as Askari General Insurance Company Limited and Askari Life Assurance Company Limited — file audited statements with the Pakistan Stock Exchange, and these do not break out Askari Farms and Seeds' standalone results (PSX filings, Askari Life Assurance). Consistent with the absence of a public filing requirement for unincorporated or wholly owned private AWT ventures, this profile reports the lack of disclosed figures as a factual limitation rather than an estimate.

5. Future Plans

The most concrete, current, publicly available indication of strategic direction is Askari Seeds' move into vegetable seeds: enlistment, trials, production, and sales and marketing operations launched in partnership with China's Jewelry Seeds Co. Ltd., explicitly framed as supporting Pakistan's food security (LinkedIn). No specific investment figures, target markets, or completion timelines for this expansion have been disclosed.

No further official statement of expansion, capacity investment, or new-facility plans specific to the stud farms or the three existing seed factories was located in the public sources reviewed. At the wider AWT/Fauji Foundation group level, 2026 has seen active portfolio restructuring — for example, the approved transfer of controlling stakes in Askari General Insurance and Askari Life Assurance from AWT to Fauji Foundation — indicating that the two military-welfare organizations continue to reposition shareholdings across their affiliated companies (Pakistan Today). No such transaction involving Askari Farms and Seeds specifically has been identified, and any more specific statement on its individual future plans beyond the vegetable-seed expansion would be speculative absent a current official filing or company announcement.

6. Past Difficulties

Anjuman Mazareen Punjab (AMP) tenant-rights movement, which argues the roughly 28,000 acres in question belong to the Punjab government rather than AWT and demands the land be transferred to tillers and the military withdrawn from farm management. Since 2001 the movement has recorded 14+ tenant deaths and over 1,900 arrests, including the fatal shooting of tenant Shamshad by AWT security guards in January 2019 during a protest, with no convictions to date.

During the British Raj it was the stud farm to supply horses for the British Cavalry.  The two villages in the area are Probyanabad and Boyle Gunj.  Probynabad is named after Sir Dighton Probyn, a British Indian Army cavalry officer (of the Probyn's Horse regiment) who won the Victoria Cross during the 1857 Indian Mutiny and later became a senior royal courtier.  Boyle Gunj is named after a British officer.  No one has bothered to change them.

https://preview.redd.it/2plcpbv7r4jh1.png?width=1600&format=png&auto=webp&s=252c237e1c184805cca8a99e4a9c9f54f0d9a089

Fauj owns 60+ enterprises, some very large corporations and some small unincorporated business ventures. We plan to document all these businesses. Our source is publicly available and verifiable information. We are peace-loving, passionate Pakistanis, working for the betterment of the country.

1. Company Overview

Askari Farms and Seeds (also styled Askari Farms & Seeds) is an agriculture-sector business unit of the Army Welfare Trust (AWT), the Pakistan Army-run conglomerate also known as the Askari Group (Rozee.pk; Army Welfare Trust, Wikipedia). It describes itself as "a prominent profit-earning venture in Pakistan's agriculture sector," contributing to "production of food, fibre and other farm commodities" with the stated aim of "helping promote the overall agricultural economy of the Nation" (Rozee.pk).

AWT's involvement in agriculture traces back to the trust's very first commercial undertaking: a stud (horse-breeding) farm at Probyanabad, transferred to AWT by the Pakistan Army in 1972, followed by a further stud farm at Boyle Gunj in 1984 (Army Welfare Trust, Wikipedia). Government disclosures to the Senate in 2016 list "two stud farms in Pakpattan and Okara" among AWT's commercial projects (Dawn; Daily Pakistan). AWT expanded into certified seed production in 2004 with the founding of Askari Seeds, which today operates three factories in Lahore, Okara, and Sukkur; the farms and the seed business are now administered together as Askari Farms and Seeds (Army Welfare Trust, Wikipedia).

As with other AWT commercial units, Askari Farms and Seeds does not maintain a separate public head office address; AWT's own head office — which sets overall strategic and financial direction for the group — is located at AWT Plaza, The Mall, Rawalpindi Cantt (AWT Real Estate; PSX filings, Askari Life Assurance). Current professional records show Muhammad Tanveer Arshad as Chief Operating Officer (COO) of Askari Farms and Seeds since July 2025, based in Multan, Punjab; he previously held general-manager roles at agri-input companies Innova Agri Solutions and the Sayban Group (LinkedIn). As with other AWT units, overall administrative, financial, and strategic control ultimately rests with AWT's own governing Committee of Administration (Pakistan Today); a separate "Director General Industries & Farms" post at Askari Group/AWT level provides senior oversight across the trust's industrial and farming units, per publicly listed staff profiles (LinkedIn).

2. Operations and Facilities

Askari Farms and Seeds combines two lines of agricultural activity under AWT: livestock/stud farming and certified seed production and trading.

• Stud (livestock breeding) farms: Two stud farms, located at Pakpattan and Okara, are listed among AWT's commercial projects; an earlier stud farm at Probyanabad (1972) was AWT's first commercial unit, and a further stud farm at Boyle Gunj came under AWT control in 1984 (Army Welfare Trust, Wikipedia; Dawn).
• Seed processing and trading (Askari Seeds): Three factories located in Lahore, Okara, and Sukkur handle seed processing under the Askari Seeds line, founded by AWT in 2004 (Army Welfare Trust, Wikipedia). Government records separately cite an Askari Seeds unit based in Okara (Dawn).
• Regional/field presence: Public professional profiles also place operational and procurement staff in Multan and Sukkur, indicating a field organization spanning multiple agricultural regions of Punjab and Sindh beyond the three named factories (LinkedIn).
• Recent expansion: In late 2025, Askari Seeds Private Ltd. — described as "a project of Army Welfare Trust" — began enlistment, trials, production, and sales and marketing of vegetable seeds in partnership with China's Jewelry Seeds Co. Ltd., stated to support Pakistan's food security (LinkedIn).

No publicly disclosed figures for total farm acreage, herd size, seed-processing tonnage, or staffing levels specific to Askari Farms and Seeds were located in the sources reviewed; the entity is listed among the roughly 16 commercial projects administered by AWT (Dawn; Daily Pakistan).

3. Products or Services

• Certified field-crop seeds: Askari-branded maize/corn seed (including hybrid and fodder varieties such as "Askari Maize Seed Pak Afgoi") is sold through agricultural retailers, alongside other field-crop seed varieties processed at the Lahore, Okara, and Sukkur facilities (Shadab Agri; Army Welfare Trust, Wikipedia).
• Vegetable seeds: A newly launched product line, developed with Chinese partner Jewelry Seeds Co. Ltd., covering enlistment, trials, production, and marketing of vegetable seed varieties for the Pakistani market (LinkedIn).
• Livestock/stud-farm services: Horse breeding and related stud-farm operations at the Pakpattan and Okara farms, consistent with AWT's original 1972 commercial mandate (Army Welfare Trust, Wikipedia).
• General farm commodities: The company describes its broader mission as contributing to "production of food, fibre and other farm commodities" for the national agricultural economy, without naming a fixed product catalogue beyond seeds and livestock (Rozee.pk).

All products are marketed under the "Askari" brand family used across AWT's commercial ventures; no separate consumer sub-brand distinct from Askari Seeds/Askari Farms and Seeds was identified.

4. Financials

Askari Farms and Seeds is a privately administered unit of AWT and does not appear to publish a standalone annual report or audited financial statements for public access.

Metric	Most recent year	One year prior	Year-over-year comparison
Gross revenue	Not publicly disclosed	Not publicly disclosed	No public standalone figures available
After-tax earnings	Not publicly disclosed	Not publicly disclosed	No public standalone figures available
Profit margin	Not publicly disclosed	Not publicly disclosed	Cannot be calculated without verified figures

AWT itself does not publish a consolidated, group-wide annual report accessible to the public; only AWT's separately listed subsidiaries — such as Askari General Insurance Company Limited and Askari Life Assurance Company Limited — file audited statements with the Pakistan Stock Exchange, and these do not break out Askari Farms and Seeds' standalone results (PSX filings, Askari Life Assurance). Consistent with the absence of a public filing requirement for unincorporated or wholly owned private AWT ventures, this profile reports the lack of disclosed figures as a factual limitation rather than an estimate.

5. Future Plans

The most concrete, current, publicly available indication of strategic direction is Askari Seeds' move into vegetable seeds: enlistment, trials, production, and sales and marketing operations launched in partnership with China's Jewelry Seeds Co. Ltd., explicitly framed as supporting Pakistan's food security (LinkedIn). No specific investment figures, target markets, or completion timelines for this expansion have been disclosed.

No further official statement of expansion, capacity investment, or new-facility plans specific to the stud farms or the three existing seed factories was located in the public sources reviewed. At the wider AWT/Fauji Foundation group level, 2026 has seen active portfolio restructuring — for example, the approved transfer of controlling stakes in Askari General Insurance and Askari Life Assurance from AWT to Fauji Foundation — indicating that the two military-welfare organizations continue to reposition shareholdings across their affiliated companies (Pakistan Today). No such transaction involving Askari Farms and Seeds specifically has been identified, and any more specific statement on its individual future plans beyond the vegetable-seed expansion would be speculative absent a current official filing or company announcement.

6. Past Difficulties

Anjuman Mazareen Punjab (AMP) tenant-rights movement, which argues the roughly 28,000 acres in question belong to the Punjab government rather than AWT and demands the land be transferred to tillers and the military withdrawn from farm management. Since 2001 the movement has recorded 14+ tenant deaths and over 1,900 arrests, including the fatal shooting of tenant Shamshad by AWT security guards in January 2019 during a protest, with no convictions to date.

During the British Raj it was the stud farm to supply horses for the British Cavalry.  The two villages in the area are Probyanabad and Boyle Gunj.  Probynabad is named after Sir Dighton Probyn, a British Indian Army cavalry officer (of the Probyn's Horse regiment) who won the Victoria Cross during the 1857 Indian Mutiny and later became a senior royal courtier.  Boyle Gunj is named after a British officer.  No one has bothered to change them.

https://preview.redd.it/bu4x2c926mih1.jpg?width=955&format=pjpg&auto=webp&s=b642d2d3eb1ecb1a4e344211bffc444937f84d21

9 August 2026

There is something special about the Frontier Works Organization (FWO). It keeps on being “awarded” no bid contracts again and again.  But they are not from the same governments; Federal and all provincial governments do it.  Sometimes it is defended that no other contractor of similar quality and experience exists, yet we can name several contractors of C-A Category within Pakistan.  Many times the contract is sole source but it was re-priced at a larger amount.  Finally, how and where are the profits accrued from the various civilian projects accounted for.

The latest are four projects awarded by the government of Sindh.  They are:

• The University Road BRT project's Lot 2 was given to FWO via "direct contracting, government-to-government arrangement" after the cabinet terminated the previous contractor, with off-budget funding approved.tribune.com
• The Karachi Circular Railway flyovers/underpasses contract went to FWO as a single-source award, with the Sindh cabinet formally seeking exemption from SPPRA's competitive-bidding requirement.dawn
• "Laying of Pipeline from Dumlottee to DHA and Construction of Pumping Station, Forebay, Filtration Plant and Ancillary Works (through Government-to-Government Agreement)" — explicitly designating it a government-to-government arrangement, not a competitively tendered contract.app.com in July 2025 at it was priced at Rs10.56 billion, but on July 24, 2026, the cabinet approved the 40% EPC cost escalation to Rs14.237 billion. 
• There is an undisclosed fourth project.

The Federal Defence Minister confirmed the Rs205bn M-13 (Kharian–Rawalpindi) motorway contract, awarded to FWO, has entered its implementation phase (The Nation).  This no bid project was earlier reported by us.

P.S. Government-to-Government Agreement means that a Government unit is contracting another government unit.  In this case Sindh Government and FWO.

In my last re-posted item, Risk Averse Pakistan, I included the word Allah in it, which was wrong. This fact was pointed by a brother who has greater Islamic knowledge than me. I have removed the word and do apologize for the mistake. I used the phrase from the memory, which turned out to be wrong. My apologies.

In my last re-posted item, Risk Averse Pakistan, I included the word Allah in it, which was wrong. This fact was pointed by a brother who has greater Islamic knowledge than me. I have removed the word and do apologize for the mistake. I used the phrase from the memory, which turned out to be wrong. My apologies.

Revolution led emancipation is spreading in the region.  First in Sri Lanka then Nepal, Bangla Desh and now in India.  In a short period people of neighbouring countries  have risen and threw away their corrupt rulers but not in Pakistan.  We still have form 47 rulers, we still have their overlord, the self appointed Field Marshal.  But even the Field Marshal is under the thumb of someone else, America.

Pakistan may not have a national revolution but civil wars are  in progress in some provinces, namely Balochistan and a portion of KP and in Waziristan.  Kashmir is following a civilian revolution of its own.  But not a peep from the largest province Punjab or Sindh.  Here is the family raj.

Condition of people will not change until they change themselves.  This certainly applies to us. 

Askari Bank Limited – Company Profile

16 July 2026

Fauj owns 60+ enterprises, some very large corporations and some small unincorporated business ventures. We plan to document all these businesses. Our source is publicly available and verifiable information. We are peace-loving, passionate Pakistanis, working for the betterment of the country. Please visit BDSPakFauj for other companies.

1. Company Overview

Askari Bank Limited is a Pakistani commercial and retail bank headquartered in Islamabad, operating as a subsidiary of Fauji Fertilizer Company Limited, which in turn is part of the Fauji Foundation ecosystem. The bank was incorporated on October 9, 1991, and commenced operations on April 1, 1992, under the Banking Companies Ordinance, 1962. It is listed on the Pakistan Stock Exchange (PSX: AKBL).[en.wikipedia]

The bank’s head office is located at Third Floor, Plot No. 18, NPT Building, F-8 Markaz, Islamabad. Its registered office remains at AWT Plaza, The Mall, Rawalpindi. As of 2026, the Chairman of the Board is Lt Gen Anwar Ali Hyder (Retired), who joined the board in April 2024 and was appointed Chairman thereafter. The President and Chief Executive Officer is Mr. Zia Ijaz.[linkedin]

2. Operations and Facilities

Askari Bank is principally engaged in commercial and retail banking, including Islamic banking and agricultural finance, supported by a nationwide branch and ATM network. The bank operates 719 branches and over 600 ATMs across Pakistan, with an additional wholesale banking branch in Bahrain.[en.wikipedia]

Key operational hubs and model branches are located in major cities including Rawalpindi, Lahore, Islamabad, Karachi, Peshawar, Quetta, Multan, Faisalabad, Sialkot, and Gilgit, as well as in Azad Jammu & Kashmir and Balochistan. The bank has expanded its footprint in recent years, adding 60 new branches in the 12 months leading up to Q1 2024 alone.[marketscreener]

3. Products and Services

Askari Bank offers a comprehensive suite of banking products and services under both conventional and Islamic banking windows:

• Retail Banking: Current, savings, and term deposit accounts; personal loans; auto finance; home finance; credit and debit cards.[urdupoint]
• Corporate & Commercial Banking: Working capital finance, trade finance, cash management, and treasury services for SMEs and large corporates.[marketscreener]
• Islamic Banking: Shariah-compliant deposit and financing products through dedicated Islamic branches.[marketscreener]
• Agricultural Banking: Specialized financing for the agriculture sector, reflecting the bank’s developmental mandate.[askaribank]
• Digital Banking: Mobile banking, internet banking, and automated teller services.[marketscreener]
• Wealth & Investment Services: Previously operated Askari Investment Management (sold in 2017); currently offers investment advisory and securities trading through Askari Securities, a wholly owned subsidiary acquired in 2020.[en.wikipedia]

4. Financials

Askari Bank’s latest audited annual results for the year ended December 31, 2024, show stable profitability despite macroeconomic headwinds.[mettisglobal]

Metric (PKR ‘000)	2024	2023	YoY Change
Total Income (Revenue)	79,682,927	72,714,282	+9.58%
Profit After Taxation	21,256,554	21,540,409	–1.32%
Profit Margin (After Tax / Income)	26.7%	29.6%	–2.9 pp

Sources: [inp.net]

Commentary: Total income grew by nearly 10%, driven by a 31% increase in markup income and a 21% rise in non-markup income. However, higher provisioning and taxation expenses led to a slight 1.3% decline in after-tax profit. Profit margin contracted from 29.6% to 26.7% year-over-year.[mettisglobal]

5. Future Plans and Strategic Direction

Askari Bank’s strategic outlook emphasizes sustainable growth, risk-aware expansion, and digital transformation:

• Branch Network Expansion: Continued addition of branches to grow market share, particularly in retail and low-cost deposit segments.[marketscreener]
• Digital & Automation: Ongoing investment in digitization, process automation, and data analytics to enhance customer experience and operational efficiency.[marketscreener]
• Risk Management: Strengthening credit risk frameworks and compliance systems in line with IFRS 9 and regulatory expectations.[marketscreener]
• Capital Adequacy: Maintaining strong capital buffers; Capital Adequacy Ratio (CAR) stood at 19.33% as of June 2024, well above regulatory minimums.[augaf]
• Talent & Technology: Focused hiring and upskilling initiatives alongside technology upgrades to support future growth ambitions.[marketscreener]

No major mergers or restructuring initiatives have been announced recently; the bank’s growth strategy remains organic and balance-sheet driven.[marketscreener]

Prepared using publicly available and verifiable sources as of July 2026.

12 July 2026

There are 44 cantonments in Pakistan covering 306,341 acres of land.  They are located in all major cities including Karachi, Lahore, Rawalpindi, Peshawar, Multan, and Quetta.  They are mini cities.  The first Cantonment was established by the British in 1765 at Barrackpore near Calcutta.  The aim was to protect military installations and residences.

During British rule and afterwards in Pakistan, cantonments were run under the Cantonments Act of 1924.  They have not  bothered to change it!.  

Management of Cantonments
In Pakistan, cantonment boards are the main decision-making bodies, while the Ministry of Defence / Military Lands and Cantonments Department provides overarching control. The Station Commander is typically the President of the Cantonment Board, while the Executive Officer runs day-to-day administration as the board’s chief municipal officer.  The boards handle municipal functions such as sanitation, roads, lighting, water supply, land management, and local development. Both the Station Commander and the Executive Officers are active service officers.  Other members of the Board are civilians and are elected.  Residents pay taxes.
Cantonment land is divided in 3 categories; A, B, C.  Category A is for military use only and typically military installations.  Category B is for mixed civilian and Military use; for example housing, shops, stores etc.  Category C is largely for civilian use.  Any commercial activity in cantonment land requires approval from the Secretary of the administrative division / competent authority and the military land administration.

Corruption and Irregularity Allegations 

Although commercial development is centrally and tightly controlled, there have been allegations of corruption, but no proof was available.  

A broader defence-ministry report also said 21 army employees were involved in financial irregularities related to military lands and cantonments, and it named a former central executive officer in Peshawar among those accused of embezzlement through a ghost plot allotment.  The following are allegations.

City	Development or issue	Allegation / concern	When reported
Karachi	Commercial activity on cantonment lands, including disputed high-rise / mall-type development	Supreme Court ordered an end to commercial activity on cantonment lands and criticized misuse of military land for business purposes.	2019; earlier case reporting in 2021
Karachi	Clifton Cantonment mixed-use high-rise	Building was reported as being constructed in violation of court orders after conversion from residential to commercial use.	Conversion in 2018; reported in 2019
Karachi	Falcon Mall / commercial use of defence land	Alleged misuse of defence land for commercial purposes.	Case surfaced in 2016; widely reported in 2021
Rawalpindi	Commercial use of old grant properties; proposed commercial plazas / parking plazas	Concerns around unauthorized commercial use and later regularization of properties.	2012; 2020; 2024
Rawalpindi	Cantonment Board corruption probe	Allegations of corruption, malpractice, and assets beyond known income against board officials.	2025
Abbottabad	Government land misappropriation involving a cantonment board member	Anti-corruption action alleged forged land transactions and bribery.	2023
Islamabad	Illegal allotment of state land in E-11	NAB alleged unlawful allotment by officials in exchange for personal gain. While not a cantonment case, it shows the broader land-development corruption pattern in Pakistan.	2025

Conclusion

In 2023 the government gave authority to Cantonment Boards to use surplus land for commercial, residential and other purposes.  This has opened a flood gate for future corruption.

We believe that the army should retain stewardship of Category A land only.  The other category lands come under civilian control.

 

8 July 2026

Askari General Insurance Company Limited is a Pakistan-based general insurer headquartered at 3rd Floor, AWT Plaza, The Mall, Rawalpindi. Its President & Chief Executive Officer is Mr. Abdul Waheed, and its Chairman is Lt Gen Nauman Mahmood (Retd).dps.psx.com

Company Overview

Askari General Insurance Company Limited provides general insurance and window takaful services, with business spanning motor, health, fire and property, marine, aviation and transport, and miscellaneous insurance lines. The company describes its strategy as focused on governance, profitability, growth, digital transformation, and customer service.dps.psx.com

The company’s published history in the annual report positions it as a long-established insurer operating under a growth-oriented vision and mission. Its 2024 report highlights continuing expansion of business volume, technology upgrades, and stronger operating performance.dps.psx.com

Financials

For the year ended 31 December 2024, Askari General Insurance reported gross premium written of Rs. 6,511,591 thousand, profit after tax of Rs. 655,900 thousand, and earnings per share of Rs. 9.12. The company’s 2023 comparatives were gross premium written of Rs. 5,550,192 thousand, profit after tax of Rs. 432,518 thousand, and earnings per share of Rs. 6.02.dps.psx.com

Using profit after tax as the profit measure, the 2024 profit margin was approximately 10.1% versus about 7.8% in 2023, based on gross premium written. Profit after tax rose by about 51.7% year over year, while gross premium written increased by about 17.3%, indicating improved scale and profitability.dps.psx.com

The annual report also states that profit before tax increased to Rs. 1,060,091 thousand in 2024 from Rs. 772,427 thousand in 2023. This was supported by stronger underwriting results and a 47% increase in investment income.dps.psx.com

Financial Snapshot

Item	2024	2023	YoY change
Gross premium written	Rs. 6,511,591k	Rs. 5,550,192k	+17.3% dps.psx.com
Profit after tax	Rs. 655,900k	Rs. 432,518k	+51.7% dps.psx.com
Profit margin	10.1%	7.8%	+2.3 pts dps.psx.com
EPS	Rs. 9.12	Rs. 6.02	+51.5% dps.psx.com

Future Plans

The company’s stated forward strategy centers on digital transformation, operational efficiency, improved regulatory compliance, and a better customer experience. Its annual report specifically cites an Enterprise Architectural Revamp, the Motor Claims Management System, expanded digital health services, and enhanced cyber-security infrastructure as ongoing strategic investments.dps.psx.com

Management also points to continued growth in Window Takaful operations and expects that trend to persist in the coming years. The outlook section notes that Pakistan’s economic recovery, monetary easing, and fiscal measures may support future growth, while inflation and reinsurance costs remain sector-wide constraints.dps.psx.com

No major merger or restructuring plan is highlighted in the report. Instead, the company emphasizes organic growth, technology-led modernization, and disciplined underwriting as its principal direction.dps.psx.com

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IMEC is an Indian hair-brained scheme to bypass the Red Sea and troublesome Houthis by devising an overland route to Europe. Maritime traffic will go to the UAE; from there it will move overland by truck and rail through Saudi Arabia, Jordan and Israel to the port of Haifa. There it will be loaded on ships to Europe. War and the sheer stupidity of the scheme have set it aside for the time being. Work has progressed on the India-UAE link. Now it seems Pakistan is also joining this end.

Pakistan–Dubai ports framework agreement is the January 2024 inter-governmental deal between Pakistan and Dubai/DP World(Please see the Appendix 1 for details of this company and its former Chairman) that set up cooperation in marine logistics, a dedicated freight corridor, and an economic zone near Karachi. It seems National Logistical Corporation (NLC) of Pakistan will take the lead from this end. The recent takeover of PNSC could be to facilitate the action.

The latest Pakistan–Dubai ports framework agreement is the January 2024 inter-governmental deal between Pakistan and Dubai/DP World that set up cooperation in marine logistics, a dedicated freight corridor, and an economic zone near Karachi. It was signed in Davos and names DP World as Dubai’s nominated entity, with Port Qasim Authority acting for Pakistan.

What it covers

The agreement focuses on developing a multimodal logistics park, freight terminals, and a dedicated freight corridor linked to Karachi. It also includes dredging the navigation channel and creating an economic zone at Port Qasim to attract more than US$3 billion in investment.

Main projects

One major project under the framework is the Karachi Port to Pipri Marshalling Yard freight corridor, which is meant to improve cargo movement and reduce logistics costs. Another is the Port Qasim economic zone, which is intended to expand industrial activity around the port area. The dredging work is part of making port access deeper and more efficient for larger shipping operations.

There is consideration for a feeder shipping service between Pakistan and UAE.

Current status

By early 2026, the partnership was still active, with Pakistan’s president discussing continued port, rail, and logistics cooperation with DP World leadership. A reported first phase of a $400 million freight corridor linking Karachi Port and Pipri was formally partnered in September 2025, showing the framework had moved into implementation. So this is not just a paper agreement anymore; it has already progressed into concrete logistics and rail development.

Without the overland portion, it is beneficial for Pakistan. We get a $3 Billion investment to improve logistics infrastructure.

Appendix 1

Dubai Ports World (DP World) is an investment arm of the UAE, investing in maritime ports and infrastructure. Its last Chairman & CEO was Sultan Ahmed bin Sulayem. He had a long-standing relationship with the infamous pedophile Jeffrey Epstein. A treasure trove of sexually explicit emails was discovered. Among them, he evaluated the girls he had exploited and a quote “I loved the torture video”. He was fired after the connection with Epstein was discovered.

Please visit our main website www.BDSPakFauj.com

اردو کے لیے سب سے بڑا خطرہ آن لائن ہے جہاں سوشل میڈیا پر اردو کمنٹس رومن (انگریزی) حروف تہجی میں لکھے جاتے ہیں۔  پڑھے لکھے لوگوں کی بڑی تعداد اردو لکھنے کی مہارت کھو رہی ہے۔  میری آپ سے گزارش ہے کہ ان لوگوں کو اردو میں لکھنے کی ترغیب دینے کے لیے ایک پروگرام ترتیب دیں۔  Reddit ایک بہت اچھا ذریعہ ہو سکتا ہے.Reddit

A common refrain is “Fauj hamari hai”. This was famously proclaimed by Imran Khan himself. And currently, all PTI leaders repeat this again and again.

But who is the enemy? Who are you fighting against? Is it PMNL? Sheriff Family? or Zardari? No clear answer! If you can not define your adversary, how do you expect to win?

PTI thinks that by avoiding this question, they are preserving a “national asset”. They say that they do not want to destroy the part of the government which works! Their thesis is that a handful of Generals are controlling the army and committing an illegal takeover of power. They conveniently forget the role of the ISI, especially the lower ranks, who are the torturers and enforcers. I would classify about 20% of the army as having gone rogue.

Muddled thinking of PTI produces no result. Imran Khan is in jail, PTI as an organization is broken, and the leaders are either in jail or broken by torture.

The second muddled thinking is that they could win against the army without violence. PTI was one hundred percent sure that the Fauj would not fire on the fellow Pakistanis. Wrong again! In every notable conflict, the army has resorted to violence, even extreme violence. Examine the Rabaa massacre (2013) in Egypt, the Jaleh Square massacre (1978) in Tehran, or the St. Petersburg massacre (1905). In all these examples, the army has shown ruthlessness for which they are trained.

An army is fundamentally organized to use controlled force to achieve political objectives, so violence becomes its defining instrument rather than an end in itself. Its training, structure, and doctrine are built around the capacity to apply force effectively under discipline, because in conflict situations, persuasion alone cannot stop an opposing armed force. Success is therefore often measured by outcomes tied to the use of force—such as securing territory, neutralizing threats, or compelling an adversary to change behaviour. At the same time, professional militaries emphasize restraint, rules of engagement, and accountability, since unchecked violence can undermine legitimacy, strategy, and long-term stability. Such restraints are thrown overboard when critical objectives are at stake. PTI was relying on such restraints, but ruthless generals seldom abide by the rules.

Strategy for Success

Sowing division in the Army is an old strategy. It has worked whether one is fighting one's own army or that of an adversary. The British won at Plessy and Sri Rangapatnam by sowing discord among Indian armies. Similar to breaking the army through the revolt of the lower ranks brings success. It is called the “Colonel’s Revolt.” Col. Nasser and Col. Gaddafi are the prime examples. This success is based on the fact that the power of the generals depends on the obedience of the subordinates. If the subordinates (colonels) refuse to follow orders, the whole power structure collapses. Therefore, PTI should have cultivated colonels.

Story of Success

1971 Pakistan Military Officers' Revolt, also known as the Majors and Colonels Revolt, refers to the deposition of Yahya Khan's regime in Pakistan by Pakistani military officers such as Brigadier Farrukh Bakht Ali, Brigadier Iqbal Mehdi Shah, Colonel Aleem Afridi, Colonel Agha Javed Iqbal, Lt Col Mohammed Khursheed Hussain and other officers. Their goal was to overthrow the government and transfer power to the elected civilian representatives. The revolt succeeded as General Yahya Khan and his government resigned, with Zulfikar Ali Bhutto then taking power as President of Pakistan.

On May 20, 2026 the operational control and 30% shares of Pakistan National Shipping Corporation (PNSC) were transferred to Fauj controlled National Logistic Corporation (NLC). Although NLC is a government owned entity, it is under control of the Fauj. It is reported that the government approved a sale of the 30% stake, but they do not state the payment amount.

Reason of Sale

The stated reason was to restructure PNSC to improve efficiency and integrate freight transport, with officials saying it would help tap emerging maritime and transshipment opportunities. Balderdash! It was a takeover!

Stated policy goals

The government said the move would support an “optimum and integrated” freight system by combining shipping and road logistics under NLC.

It was also presented as a way to expand the national shipping fleet and reduce reliance on foreign shipping lines, which was said to lower foreign freight costs.

What does it mean?

More control of Fauj over business!

On May 20, 2026 the operational control and 30% shares of Pakistan National Shipping Corporation (PNSC) were transferred to Fauj controlled National Logistic Corporation (NLC). Although NLC is a government owned entity, it is under control of the Fauj. It is reported that the government approved a sale of the 30% stake, but they do not state the payment amount.

Reason of Sale

The stated reason was to restructure PNSC to improve efficiency and integrate freight transport, with officials saying it would help tap emerging maritime and transshipment opportunities. Balderdash! It was a takeover!

Stated policy goals

The government said the move would support an “optimum and integrated” freight system by combining shipping and road logistics under NLC.

It was also presented as a way to expand the national shipping fleet and reduce reliance on foreign shipping lines, which was said to lower foreign freight costs.

What does it mean?

More control of Fauj over business!