The Genesis in Khotian
The story of the Saigol family begins in the modest village of Khotian, located in the Chakwal District of Punjab, British India. In the late 19th century, Amin Saigol, a visionary entrepreneur, sought better opportunities beyond the confines of his village. He migrated to Calcutta (now Kolkata), where he established a small shoe shop. This humble beginning laid the foundation for what would become a sprawling business empire.
Expansion into Industry
By the 1930s, Amin Saigol's enterprise had evolved into Kohinoor Rubber Works, a significant manufacturer of rubber products. During World War II, the company supplied rubber boots and raincoats to the Allied forces, marking its prominence in the industry. This success was a testament to Amin's business acumen and foresight.
The Move to Pakistan
Anticipating the partition of British India, Amin Saigol decided to relocate his business operations to the soon-to-be-created Pakistan. In 1947, he, along with his sons—Yousaf, Sayeed, Bashir, and Gul—moved to Lahore. Recognizing the nascent nation's need for industrial development, the Saigols aimed to contribute significantly to Pakistan's economy.
Establishing Kohinoor Textile Mills
In 1948, the Saigol family established Kohinoor Textile Mills in Lyallpur (now Faisalabad), marking Pakistan's first major textile venture. The project was initiated with a capital investment of Rs. 8 million. Notably, the first letter of credit (LC) opened with the State Bank of Pakistan was for the import of machinery for this mill, underscoring the project's national significance.
Scene: A Meeting in Lahore, 1948
Location: Saigol Residence, Lahore
Amin Saigol: "Our new nation needs industries to thrive. With our experience, we can lead the way."
Yousaf Saigol: "Father, establishing a textile mill in Lyallpur will not only serve our business interests but also provide employment and boost the local economy."
Sayeed Saigol: "Let's ensure we maintain the highest standards, setting a benchmark for future industrial endeavors in Pakistan."
Diversification and Growth
Building on the success of their textile venture, the Saigols diversified into various sectors:
Banking: In 1959, they founded United Bank Limited, which rapidly expanded its operations both domestically and internationally.
Chemicals: Recognizing the need for industrial chemicals, they established a chemical complex at Kala Shah Kaku near Lahore, comprising units like Kohinoor Rayon Limited and United Chemicals.
Engineering and Electronics: The group ventured into engineering with Kohinoor Engineering Limited and later into electronics with Pak Elektron Limited (PEL), producing electrical appliances and equipment.
Challenges and Resilience
The 1970s brought significant challenges. Under Prime Minister Zulfikar Ali Bhutto's nationalization policy, many of the Saigol Group's enterprises, including United Bank and several industrial units, were nationalized. This move resulted in the loss of a substantial portion of their assets.
Scene: Family Discussion Post-Nationalization, 1974
Location: Saigol Family Home, Lahore
Bashir Saigol: "We've lost much, but our spirit remains unbroken. We must adapt and find new avenues."
Gul Saigol: "Perhaps it's time to explore opportunities abroad, ensuring the continuity of our legacy."
In response, the family diversified their investments internationally, particularly in the Middle East, and continued to operate their remaining businesses in Pakistan with renewed vigor.
Legacy and Continued Influence
Despite the setbacks, the Saigol family's commitment to Pakistan's industrial growth remained unwavering. Their ventures laid the groundwork for numerous industries, and their legacy continues through various enterprises managed by the next generations. Notable figures like Tariq Saigol and Naseem Saigol have played pivotal roles in steering the group's continued success.
The history of the Saigal family is deeply embedded in the industrial fabric of Pakistan. Originally from Chakwal in Punjab, the Saigal family was known for its discipline, discretion, and an unwavering commitment to business values rooted in hard work and vision. But it was Aftab Saeed Saigal who would rise as the quiet architect behind one of Pakistan's most influential business dynasties.
Early Life and Character
Born in 1928, Aftab Saeed Saigal grew up in pre-Partition India in an atmosphere of traditional business culture. His father, Saeed Khan Saigal, was a small trader with modest means but a keen sense for commerce. Aftab was schooled in Lahore, a city which was fast emerging as the commercial heartbeat of northern India. He was known for his introverted but insightful demeanor, never wasting words, and always listening more than he spoke. These traits would earn him immense respect later in life as he stepped into Pakistan's nascent industrial scene.
In the late 1940s, as the Partition of India unfolded, Aftab and his brothers moved to the newly-formed Pakistan. With little but their inherited business values, the Saigals settled in Karachi. They were not alone—a wave of enterprising Muslim families had made the same journey, each hoping to contribute to the new nation's economic development.
Entry into Textiles
Aftab Saeed Saigal believed in building things from scratch. In 1956, he formally established Pak Electron Limited (PEL) under the Saigal Group umbrella. But even before PEL, the family had tested waters with textile ventures. Aftab saw textiles not just as a business opportunity, but as a cornerstone of Pakistan's industrial potential.
By 1959, the Saigal Group had established Kohinoor Textile Mills in Faisalabad (then Lyallpur), positioning it as one of the earliest textile manufacturers in the country. Under Aftab's leadership, the mill quickly became a hallmark of quality and efficiency. Unlike the flamboyant industrialists of the time, Aftab was rarely seen in public, seldom gave interviews, and avoided politics.
A Culture of Silence and Strategy
Scene: Boardroom, Kohinoor Textile Mills, 1962
The room is quiet. Aftab Saeed Saigal sits at the head of a large wooden table, surrounded by young managers, including Tariq Saeed and Naveed Ahmad.
Aftab Saeed Saigal (calmly): "Don't speak until you have listened. Don't decide until you've questioned. And never invest until you know how to survive the loss."
Tariq Saeed: "Sir, the other groups are growing fast through bank loans and public listings. Should we follow?"
Aftab: "Growth is not in speed. It is in stability. We will own more than we owe."
Aftab's belief in retaining majority family ownership and avoiding debt-heavy expansion stood in contrast to several other emerging conglomerates.
Consolidation and Diversification
Throughout the 1960s and 70s, the Saigal Group expanded conservatively but effectively. Aftab was at the helm of every major decision, always preferring to delegate execution, not strategy. They entered chemicals, consumer electronics, and engineering, establishing companies such as:
Pak Elektron Limited (PEL): A market leader in electrical equipment and appliances.
United Chemicals: A pioneer in industrial chemical production.
Kohinoor Power Company: An early adopter of energy self-sufficiency in industrial operations.
Unlike many other families, the Saigals kept a low profile. They did not indulge in politics, nor did they depend on government subsidies. Aftab's motto was clear: "The less you depend on power, the more power you have."
Legacy in Motion
By the late 1980s, Aftab Saeed Saigal had already begun transitioning leadership responsibilities to the next generation. His son, Tariq Saeed Saigal, inherited his father's traits of patience, discretion, and strategy.
Scene: Private Study, Lahore, 1987
Aftab (addressing Tariq): "You will see a world moving too fast. Do not race them. Outlast them. Family first, debt last, silence always."
Tariq Saeed: "I understand, Baba. But how do we maintain relevance in a global market?"
Aftab: "By building value, not volume. And by remembering, empires collapse from the inside, not the outside."
This intergenerational exchange symbolized the continuity of the Saigal business philosophy. As conglomerates like Ittefaq, Crescent, and Hashoo Group ventured into riskier investments, the Saigal Group remained resilient through conservative diversification.
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Conclusion
Chapter 1 charts the rise of a family that chose silence over spectacle, resilience over risk, and depth over speed. Aftab Saeed Saigal's foundational principles helped the Saigal Group avoid the dramatic collapses faced by many contemporaries. His values not only built a business but shaped a legacy—one that would carry forward in the hands of his children and grandchildren.
The journey of the Saigal family did not begin with vast wealth or political favors, but with a vision grounded in self-reliance, prudence, and strategic patience. In the chapters to follow, we will trace how these principles were tested in Pakistan's turbulent economic landscape, and how the Saigal Group evolved without ever betraying the founding ethos laid down by its silent architect.