Muhammadi_Steamship_Company_Limited

Muhammadi Steamship Company Limited

Muhammadi Steamship Company Limited

Defunct Pakistani shipping company

Muhammadi Steamship Company Limited was one of the oldest locally owned shipping companies in Pakistan until it was nationalised in the early 1970s.

History

The company was incorporated on 12 May 1947 .[1] In 1949, it became the first Pakistani shipping line to be publicly listed on the Karachi Stock Exchange.[2]

Muhammadi House on McLeod Road (now I. I. Chundrigar Road) was the headquarters of the company.[3]

Muhammad Ali Habib and Kasim Dada were major share holders of the company till 1959–1960. However, after their departure from the scene, company went into deep financial crisis. Fakhruddin Valika of the Valika family later on acquired the major stake in the company.[4] Under the Valika family's leadership, the company built Al-Abbas, which was the first major ship to be built in Karachi Shipyard.[5] The company was nationalized by the Government of Pakistan under then President Zulfikar Ali Bhutto. It was later merged with other Pakistani nationalized shipping companies to create the Pakistan National Shipping Corporation.

Ships

More information Ship, Built ...

See also

References

  1. [1]
    Malik, Iftikhar Ahmed, "History of Pakistan Merchant Navy 1947- 2009" Karachi 2010 (privately published) pg 5
  2. [2]
    Malik, Iftikhar Ahmed, History of Pakistan Merchant Navy 1947- 2009 Karachi 2010 (privately published) pg 6
  3. [3]
    Malik, Iftikhar Ahmed, History of Pakistan Merchant Navy 1947- 2009 Karachi 2010 (privately published) pg 7
  4. [4]
    Papanek, Hanna (1972). "Pakistan's Big Businessmen: Muslim Separatism, Entrepreneurship, and Partial Modernization". Economic Development and Cultural Change. 21 (1): 1–32. doi:10.1086/450605. JSTOR 1152902. S2CID 86853602.
  5. [5]
    "Rise and fall of Karachi's Valika family (Part 1)".
  6. [6]
    Malik, Iftikhar Ahmed, "History of Pakistan Merchant Navy 1947- 2009" Karachi 2010 (privately published) pg 8
Share this article:

This article uses material from the Wikipedia article Muhammadi_Steamship_Company_Limited, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.