The Dawood Family And Their Role In Pakistan’s Economy
Last Updated on June 24, 2023 by
Shahzada Dawood, a British-Pakistani business magnate, and his 19-year-old son Suleman Dawood perished in the Titan submarine while on a trip to see the Titanic disaster in the waters off Canada’s Newfoundland. Shahzada Dawood was the descendant of one of Pakistan‘s 22 richest families, known as the dawood family.
The 49-year-old businessman and his son were two of the five crew members on board the tragic ship. He served as vice chairman of the largest corporation in Pakistan, Engro Corporation. The sub imploded underwater in the North Atlantic Ocean, according to confirmation from the Dawood Family the US Coast Guard a day earlier. The sub was owned by OceanGate Expeditions.
The Dawood Family
Hussain Dawood, a well-known figure in the nation’s business community who is also renowned for his contributions to philanthropy and education, was the father of Shahzada.
Shahzada completed a Bachelor of Law at the University of Buckingham in the UK while also pursuing an MSc in Textile Marketing at Philadelphia University. In 2003, he became a member of the Engro Corporation board and was already the vice chairman. With more than 20 years of experience in corporate governance and industrialization, he has contributed significantly to the development and innovation of the Dawood Family numerous publicly traded firms in the food, energy, textile, and fertiliser industries. He has played a crucial role in promoting mergers and acquisitions to open up new growth prospects.
The entrepreneur was a trailblazer in calling for the institutionalization of significant global networks and relationships. Under his direction, Engro became the first business in Pakistan to ratify a contract for the application of the Stakeholder Capitalism Metrics with the World Economic Forum’s (WEF) International Business Council. Additionally, the Dawood Family served as the leader of Engro’s delegation to the Global Plastic Action Partnership (GPAP), a conference that supported the circular economy.
He has had a trustee position on the board of the Dawood Foundation in addition to his position at Engro. In addition, he served on the global advisory board of the King Charles III-founded Prince Trust International.
His father, who serves as chairman of the Dawood Foundation and is dedicated to the advancement of education, also assumed leadership of the trust’s operations. In addition, he serves as chair of the Dawood Hercules Group and the Engro Corporation.
Since 2002, the father of the deceased businessman has taken a leading role in directing the Dawood Hercules Group’s investments, especially in the areas of science, the Dawood Family technology, engineering, the arts, and mathematics with the goal of making a significant contribution to the industries that power the economy and society.
Ahmad Dawood, Shahzada’s grandfather, was a source of recognition and goodwill for their family for many years after Pakistan’s establishment. In the meanwhile, the Dawood group sold a majority stake in Engro Corporation to international investors.
As the founder and head of the board of governors for the Karachi School of Business and Leadership (KSBL), Hussain’s dedication to advancing human development is evident. Since 1992, he has worked with a number of organizations, including the Islamabad Policy Research Institute (IPRI) and the Karachi Education Initiative (KEI). Each year, he oversees the team’s participation in the World Economic Forum (WEF) in Geneva and actively engages in discussions about world politics and society.
The growth of the local healthcare industry has benefited greatly from the efforts of the TDF chairman. He has held board positions at both the prestigious Al-Shifa Trust Eye Hospital in Rawalpindi and the Shuakat Khanum Memorial Hospital. He and the former governor general of Sindh, Jahandad Khan, were instrumental in building the hospital.
All of the Dawood family members, especially Hussain, who is known for his national service, have taken an active role in addressing the difficulties brought on by COVID-19 around the world.
Hussain received the Ordine al Merito della Repubblica Italiana from the Italian government, making him an honorary lawyer of Italy. He has a graduate degree in meteorological studies from Sheffield University in the UK and a Masters of Business Administration (MBA) from Northwestern University’s Kellogg School of Management in the US.
