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Successful Business Leader
Salman Taseer (late)
Submitted By
Muhammad Fahad Ebad (19006)
MBA 3 (A)
TO
͞MR REZA H SYED͟

Submission Date: 6TH JAN 2011

Abstract
Salman Taseer (late) one of the successful entrepreneur leading to establish a
tremendous business image of the country is now no more but his life from his
childhood till his death was something an inspiration for future business leaders.

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ºn his early years Salmaan grew up amongst a host of intellectual stalwarts of the
time who used to frequent his house. Salmaan Taseer¶s father Dr. M.D Taseer was
a PhD from Cambridge, a renowned poet, principal of the prestigious ºslamia
College in Lahore and a leading literary figure of the city. His uncle Faiz Ahmad
Faiz, Pakistan¶s legendary post partition poet was instrumental in influencing
Salmaan¶s political views.

Dr. M.D. Taseer died at the age of 47 when Salmaan was very young. Years of
struggle and financial hardship followed. Armed with only a one way ticket Salmaan
landed in London aged 17. He worked his way through to complete his education
and qualified as a chartered accountant (England and Wales) when he was only 22.

Salmaan Taseer is married to Aamna Taseer and the two currently live in Lahore
with their younger sons Shahbaz and Shehryar.

Apart from entrepreneurship and politics, Salmaan¶s passions include reading

books, music and traveling.

 


Salmaan Taseer is credited with nurturing a host of highly successful businesses
and is greatly regarded for his business acumen and foresight. Early in his career
he successfully set up top chartered accountancy and management consultancy
firms; Taseer Hadi Khalid and Company (THK) Pakistan (now KPMG) and KPMG,
UAE. He was instrumental in establishing the Middle East operations of KPMG.
Diversifying his interests, in 1994 he established First Capital Securities Corporation
(FCSC), a full service brokerage house with equity participation by Smith Barney
ºnc USA and HG Asia Hong Kong. FCSC set the tone for investment banking
services in Pakistan and together with leading international investment banks
worked on important advisory and corporate finance transactions. Since then he has
been actively involved in establishing other companies in the financial sector as well
as telecommunications, print, media and real estate/property development sectors.
Taseer¶s companies have been able to attract foreign investment at times when
most were shying away from Pakistan. First Capital Group has had significant
investment from major international funds and high net worth individuals from
abroad. Financial services companies in the group include a mutual fund, an
investment management company, leading brokerage houses in Pakistan and Sri
Lanka and an insurance company (joint venture with a South African insurance
company and Shaheen Foundation).

Salmaan Taseer founded the Worldcall group with a payphone network in 1995
which has grown exponentially over the years to become a major private sector
telecom operator with national and regional footprint. Worldcall was a pioneer in
introducing innovative products in the Pakistani market which included supervised
payphones, prepaid calling cards, broadband and cable networks as well as wireless
local loop services. Worldcall has set trends which the entire industry has followed.
ºt worked with top of the line vendors and brought cutting edge technology for the
local consumers. Worldcall has the most diversified telecom deployments in the
country and is a market leader. Given the strength and positioning that Worldcall
enjoyed, majority stake in the company was acquired by Omantel, Sultanate of
Oman¶s incumbent operator, in 2008.

Salmaan Taseer started his real estate part of the group with acquisition of Pace
department store in the late nineties which was then under huge financial debt.
With his business insight and good judgment he was able to turn it around in short
time and Pace has since become a household name in the country. With its listing in
Pakistan and convertible bond listing in Singapore, Pace brand is recognized not
only in Pakistan but by international fund managers as well. Today the group has 6
operational shopping malls in different cities and around eight projects under
various phases of development. These include shopping malls, apartments/gated
communities, office blocks, hotels and resorts and multi use developments. Pace
has partnered with Hyatt Regency to bring this prestigious international chain to
Pakistan with the first project under advanced stage of construction in Lahore.

Taseer once again took the lead by introducing the first English news channel in
Pakistan Business Plus which was followed by the first exclusive kids channel Wikkid
Plus. Salmaan is also the publisher of one of the fastest growing English newspaper,
the Daily Times and an Urdu daily by the name of Aajkal.

Salmaan Taseer has authored a number of articles on various subjects including

investment and finance. He has participated and spoken at numerous
telecommunication and financial services related conferences. He has served on the
board of the Export Promotion Bureau of Pakistan and currently is on the board of
the Universal Service Fund (USF) Company Limited.

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Salman Taseer started his political career in his student era, as a member of
Zulfiqar Ali Bhutto's PPP in late 1960s. He was part of the movement for Zulifqar
Bhutto's freedom and opposed his arrest and death sentence. He has also written a
political biography on the Prime Minister, Zulfikar Ali Bhutto.

He was insurrected in the notorious Lahore Fort during the MRD (Movement for
Restoration of Democracy) and tortured. He has been arrested many times and
charged with terrorism, murder and political violence. He was also arrested by Mian
Nawaz Sharif in 1992 and tortured at the Burki Police Station Jail.

His long and historic struggle for democracy and against dictatorship is part of the
history of Pakistan.

Senator John Kerry, chairman of the Senate Foreign Relations Committee, called
Taseer "a proud champion of democracy and respect for the rights of women and
minorities." He fearlessly stood up to the threats of extremists and lost his life in
defense of moderation and tolerance, values shared by most Pakistani citizens,
Kerry said in a statement. "The best way to honor his legacy is to continue resisting
violent extremism and supporting core principles on which Pakistan was founded."
His assassination has plunged the country into deep despair.

Conclusion

º can just say we have lost a true business entity & his death and it can be consider
as the death of hope of Pakistani business environment people like Salman Taseer
are not created or made but they are the blessing from God to any nation and
those who guide the entire nation towards prosperity. º am really in grieve to lose
such a business leader but even though º am quite optimistic for Pakistani youth to
follow in his footsteps and his practices to establish Pakistan in the world business
community.