![]() | |
![]() Headquarters of the Army Welfare Trust in Rawalpindi | |
Company type | Private |
---|---|
Industry | conglomerate |
Founded | 1971; 53 years ago (1971) |
Headquarters | Rawalpindi, Pakistan |
Key people | Lt Gen (R) Nauman Mahmood (Managing Director) |
8-9 billions (usd) | |
Total assets | ![]() |
Number of employees | ~30,000 (2020)[1] |
Subsidiaries | Mobil Pakistan |
Website | awt |
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 the deceased soldiers, and the disabled personnel of the army.[2]
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]
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]
It is one of the largest conglomerates in Pakistan. The assets the group owns are:
Following are the companies which are not listed on Pakistani stock exchanges: