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Topic: Fauji Foundation

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Pakistani Generals Meeting in Emergency as Political Crisis Reaches Dead End Though Fauji Foundation is technically devoted to the welfare of retired Army personnel, it is run by a serving lieutenant-generals, who reports to General Musharraf as chief of army staff and the defence secretary of the Government of Pakistan. The Fauji Foundation, the Kuwait Petroleum and a little-known Saudi group, Midrock, short listed by the Privatization Commission in 2001, have been invited to place their bids for the purchase of PSO at a yet to be announced date of early next month, according to a senior PC official, Pakistan’s Daily ‘The News’ reported. It is now being eyed by the Fauji Foundation, the corporate face of the serving and retired generals watching and serving their collective financial interests, as the biggest fish they could net in the Musharraf regime. www.satribune.com /archives/sep14_20_03/P1_pso.htm

Scam taint hits Pakistani ex-servicemen body:- - Asia News - Webindia123.com Musharraf, who has lavished praise on the Fauji Foundation for generating funds and using these for welfare activities, has said criticism of the foundation is uncalled for as its assets are in the private sector and it provides job opportunities to the families of both retired soldiers and the civilians. At issue is the sale through The Fauji Foundation of a Pakistani Army sugar mill for Rs.18 billion against the highest bid of Rs.23 billion it received. Islamabad, June 22 : A cash-rich Pakistani ex-servicemen's foundation that claims to be a private entity but is run by the military and is accused in a major scam is in the eye of a storm after the defence minister refused to appear before a parliamentary probe into the wrongdoing. news.webindia123.com /news/showdetails.asp?id=90593&cat=Asia

Asia Times Online - The best news coverage from South Asia While the Fauji Foundation comes directly under the Ministry of Defense, the Army Welfare Trust is under the General Headquarters, the Shaheen Foundation under the Air Force Headquarters and the Bahria Foundation under Naval Headquarters. Of the four, the Fauji Foundation is the oldest and the country's largest business conglomerate. The activities of the foundations are designated as "corporate ventures". www.atimes.com /atimes/South_Asia/FI10Df03.html

Company Profile(Fauji Fertilizer Company Ltd.) Fauji Fertilizer Company Limited (FFC), the largest urea manufacturer in the country, was incorporated on May 08,1978 as a joint venture between Fauji Foundation, Pakistan and M/s Haldor Topsoe A/S of Denmark. FFC together with Fauji Foundation from Pakistan and Jordan Phosphate Mines Company from Jordan sponsored the establishment of a urea/ DAP complex at Port Qasim, Karachi. Company shares are held by Fauji Foundation (43%) and various investment companies, financial institutions and individuals. www.pakistaneconomist.com /issue2002/issue1/etc4.htm

Fauji Sugar Mills Sugar & Sweeteners,Honey Products,Hydrin Fauji Foundation Group was established to achieve the broad objective of the welfare of ex-servicemen and their entitled dependents. Fauji Foundation Group is a conglomerate of several industrial/commercial projects, which include fully owned as well as shareholding ventures in various areas. About Us Fauji Foundation Group was founded in 1954 as a charitable trust for the uplift of ex-servicemen of the Armed Forces and their dependents. biz.cnnet.com /trade/company/goto/10091278.html

Fauji group to bid for PSO, U-fone -DAWN - Business; 10 August, 2004 The Fauji group, which is owned by an army welfare organization and operates some of the country's biggest listed companies, intends to bid in the privatization of two large state-owned companies, Syed Muhammad Amjad, managing director of Fauji Foundation, said. Fauji Foundation, formed in 1953, runs hospitals and schools for the families of retired soldiers. Such plans by Fauji could hasten Islamabad's on-again, off-again privatization programme, which is aimed at reducing Pakistan's $34 billion in foreign debt and transferring state assets to the private sector. www.dawn.com /2004/08/10/ebr9.htm

Military rules Pak privatisation The Fauji Foundation, which offers womb-to-tomb benefits for nearly nine million ex-servicemen and their dependents, earned $40 million on a turnover of $ 1 million as of September 30, 2004. Fauji Foundation, a business run by the Pakistan military, lost out having bid only $112 million for a 51 per cent stake in NRL well below Attock's $275 million. Fauji's bid for a role in big ticket privatisations illustrates the emergence of the Pakistan military as an economic machine breaking into the corporate mainstream even as its political influence looks threatened in a democratic framework. www.rediff.com /money/2005/jun/09guest2.htm

Pakistan Facts - Pakistan Army takes over economy, administration Commercial and industrial enterprises promoted by the Army Welfare Trust and the Fauji Foundation are steadily on the increase, and they now form a significant part of the economy of the country. The report comes in the wake of another one published in The Saturday Tribune, which said the Army's fauji foundation was "all set to take over" the multi-billion dollar state-run Pakistan State Oil (PSO), described as "gold mine" for its prospective buyers, through a "rigged and manipulated" privatisation process. Then there is the Fauji Jordan Fertilisers which lost money heavily as it was regarded a fool hardy venture and it was subsidized heavily by the Fauji Fertilisers, the real cash cow, and other official outfits. www.pakistan-facts.com /article.php?story=20031005204803311

Fauji Foundation The performance of Fauji Foundation I thought was highly commendable not withstanding the general complaints and the size of the problem. Fauji Foundation may be rightly considered as a rare success story of our times. In that context it was most creditable for the MD Fauji Foundation to make a very scintillating and forthright presentation about the working of Fauji Foundation in the Iftikhar Auditorium. www.defencejournal.com /jan99/fauji.htm

HIMAL SOUTH ASIAN November 2003 Report Fauji’s foundation In fact, Fauji Foundation, and a host of other army-run corporate enterprises in the country, have come to control such a huge proportion of the economy that it would not be unreasonable to suggest that the army literally controls the destiny of a sizeable proportion of the country’s population. If, today, Fauji Foundation is buying up PSO, we should rest assured that some very important forces in the oil and gas corporate world are in the loop and are quite willing to facilitate the process. It has been publicly reported that the Fauji Foundation of Pakistan is foremost amongst the bidders for the soon-to-be-divested Pakistani State Oil (PSO) enterprise. www.himalmag.com /2003/november/report_1.htm

PakDef Forums - Fauji Foundation article Although Fauji and other military foundations use business profits to finance welfare benefits for ex-servicemen and their families, many of their companies are losing money, and the cash-strapped government is in no position to bail them out. The Fauji group is as pervasive a commercial presence in Pakistan as General Electric is in the U.S. And the Fauji companies, all part of the Fauji Foundation, are closely linked to an even more ubiquitous institution -- the Pakistani military, itself a formidable force in the economy. Fauji Cement Co. has lost $ 23 million since it began operations in late 1997, due to massive overcapacity in the cement industry and a crippling foreign debt burden, including $ 19 million to Britain's Commonwealth Development Corp. and $ 39.9 million to the International Finance Corp. www.pakdef.info /forum/showthread.php?t=99

Blue Chip - The Business People's Magazine : Fauji Fertilizer Company Limited FFC was incorporated on May 8, 1987, as a public limited company under a joint venture between Fauji Foundation and Haldor Topsoe A/S of Denmark. Fauji Fertilizer Bin Qasim’s financial situation has significantly improved on the back of major debt restructurings, injection of funds by the government and sponsors and resumption of DAP production. Growth in industry demand as well as increased penetration by Fauji, particularly in the DAP segment are anticipated to fuel revenues. www.bluechipmag.com /pi/1004/cpf02.html

AllRefer.com - Pakistan - Personnel and Training Pakistani Information Resource The Fauji Foundation is a semiautonomous organization run for the benefit of active and, especially, retired military personnel and their families. reference.allrefer.com /country-guide-study/pakistan/pakistan153.html

[Econo-list] Pakistan government, Fauji Foundation to pump Rs 9 billion into Fauji Fertiliser Pakistan government, Fauji Foundation to pump Rs 9 billion into Fauji Fertiliser Recorder Report, HARIS ZAMIR, 03/05/2001 http://www.brecorder.com KARACHI : The federal government and Fauji Foundation would pump Rs 9 billion into FFC Jordan to reduce the financial burden of the company and its lenders. Sources close to the company said that Fauji Fertiliser would make a representation to the Chief Executive of Pakistan during the third week of this month where FFC Jordan bail-out package would be discussed. DAP prices after the 1989 fertiliser policy came down drastically last year, forcing Fauji Jordan to incur huge losses. lists.isb.sdnpk.org /pipermail/econo-list/2001-May/000741.html

Pakistan Times National: Musharraf inaugurates expansion project of Fauji Foundation “The Fauji Foundation is an excellent example of generating funds as a private sector organization and then using these for the welfare activities in key health and education sectors, where its beneficiaries number over 9 million,” he said, while appreciating the fact that the Foundation runs 175 educational and 115 medical facilities. Managing Director of Fauji Foundation, Lt Gen (Retd) Syed Muhammad Amjad informed the ceremony that the Fund operates in the private sector, purchases land from the market and deals with banks on commercial basis. “Apart from rendering creditable services across the country over half a century, the Fauji Foundation also remains one of the largest tax-paying organizations in the country,” he said noting that the FF contributed as much as Rs 24 billion in direct taxes, duties and other levies to the national exchequer during the year 2003-04. pakistantimes.net /2005/03/17/national5.htm

PPP disputes defence ministry’s contention : Fauji Foundation issue -DAWN - National; June 6, 2005 A press release issued by the Senate Secretariat on Saturday said the defence ministry had taken the position that it had no jurisdiction to appear for the Fauji Foundation at any forum and therefore the meeting on the subject would not be held. The defence secretary in his capacity is wholly responsible for the administrative, business and commercial decisions of the foundation, the PPP spokesman said, adding that there was, therefore, no question of having no jurisdiction to appear before the Senate committee on issues relating to the foundation. Is it correct that when the Fauji Fertilizer Company Jordan ran into serious financial troubles in 2003 its debt of several billion rupees was transferred to the federal government under the Paris Club? www.dawn.com /2005/06/06/nat5.htm

FCCL - About the Company Sponsored by Fauji Foundation the Company was incorporated in Rawalpindi in 1992. The cement plant operating in the Fauji Cement is one of the most efficient and best maintained in the country and has an annual production capacity of 1.165 million tons of cement. The quality portland cement produced at this plant is the best in the Country and is preferred the construction of highways, bridges, commercial and industrial complexes, residential homes, and a myriad of other structures needing speedy strengthening bond, fundamental to Pakistan's economic vitality and quality of life. www.fccl.com.pk

ADB Approves $5.3 Million Equity Investment and Loans Totalling $97 Million for Power Project in Pakistan - ADB.org Sponsors of the Project are the Fauji Foundation of Pakistan and National Fuel Gas Company, a US gas procurement and distribution company. The loans and equity investment will go to Fauji Kabirwala Company Limited (FKPC) for the Fauji Kabirwala Power Project. The Project entails the construction and operation of a 151.0-MW (net), low British thermal unit (Btu) gas-fired, combined cycle power plant near Kabirwala in the Punjab Province. www.adb.org /Documents/News/1996/nr1996044.asp

Fauji Cement Factory Limited - Annual Reports - PakSearch.com of Fauji Foundation and dedicated efforts of their staff in the process of Financial Re-structuring. Fauji Cement Company not only maintained its market share but also managed to increase its sales to We have audited the annexed balance sheet of Fauji Cement Company Limited as at June 30, 2001 and the www.paksearch.com /Annual/Annual01/FAUJI.htm

F A U J I Cereals ( Home ) Fauji Cereals a subsidiary of Fauji Foundation is running the biggest cereals processing plant since 1957. Fauji Cereals has over 80% shares in the breakfast cereals market. Due to our products quality and its performance in the market, the company has the distinction of having received the "American Quality Award", "International Food Award" and also the "International Leading Company Award". www.faujicereals.com.pk /home.html

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