The Humble Beginnings
The city of Karachi in the 1970s was a rapidly evolving industrial hub. The economy was growing, new businesses were emerging, and the demand for local industries was at an all-time high. It was in this backdrop that Dewan Muhammad Yousuf Farooqui, a young and ambitious businessman, saw an opportunity—one that would eventually shape his family's legacy for decades.
Born into a family with a background in trade and business, Dewan Yousuf had always been fascinated by industry. Unlike many of his contemporaries who were content with traditional trading businesses, he was determined to build an empire from the ground up. His father, Dewan Mushtaq Ahmed, had been involved in small-scale trading and textile imports, but young Yousuf wanted more—he wanted to create and manufacture rather than just import and sell.
One evening, at their modest home in Karachi's old commercial district, a conversation unfolded between Yousuf and his father that would shape his future.
A Conversation That Sparked a Vision
Dewan Mushtaq (Father): "Son, business is about patience. We have always traded goods, and it has sustained us well. Why risk everything trying to set up industries?"
Dewan Yousuf (Young Entrepreneur): "Father, times are changing. Pakistan is developing its industries, and the government is encouraging local manufacturing. Why should we only be middlemen when we can produce and sell on a much larger scale?"
Dewan Mushtaq: "It is easier said than done. Factories require investment, labor, machinery… and most importantly, experience."
Dewan Yousuf: "I am willing to learn, and I am willing to take risks. If we want to grow beyond just being traders, we must enter industry now before it's too late."
His father sighed, recognizing the determination in his son's eyes. Yousuf was different—he was ambitious, strategic, and willing to take bold steps.
The First Venture – Entering the Industrial World
In the late 1970s, with a small sum of capital and the support of a few trusted partners, Dewan Yousuf took his first major step into industrial manufacturing. He started with Dewan Textile Mills, a modest but well-planned factory in Sindh.
At that time, Pakistan's textile industry was booming, and Yousuf saw an opportunity to compete with the likes of Nishat, Gul Ahmed, and Fateh Group. However, setting up the factory was far from easy.
One evening, while inspecting the new textile plant under construction, he had a tense meeting with his general manager, Aslam Siddiqui, who was overseeing operations.
Aslam Siddiqui (General Manager): "Sir, we are facing delays. The imported machinery from Japan hasn't cleared customs yet, and the workers are getting restless."
Dewan Yousuf: "What's the issue at customs? Is it paperwork, or are they demanding a bribe?"
Aslam: "A bit of both. The customs officials are dragging their feet, saying the forms are incomplete, but we both know what that means."
Yousuf clenched his fists. Bureaucratic hurdles and corruption were part of doing business in Pakistan, but he was determined not to be exploited by the system.
Dewan Yousuf: "We will do everything by the book. If they need additional documents, get them immediately. We will not pay underhanded money."
After weeks of negotiations and paperwork, the machinery finally arrived, and within a few months, Dewan Textile Mills was fully operational. The factory quickly gained a reputation for producing high-quality textiles, attracting buyers from both domestic and international markets.
A New Frontier – The Move into Cement & Sugar
By the mid-1980s, the success of Dewan Textile Mills had given Yousuf the confidence and capital to expand further. He set his eyes on two highly lucrative industries:
Cement – With Pakistan's infrastructure and construction sector booming, cement demand was skyrocketing.
Sugar – As Pakistan was an agricultural economy, sugar mills were among the most profitable businesses.
Dewan Yousuf made his next bold move—the acquisition of Pakland Cement in the late 1980s. At that time, cement was primarily controlled by older business families, and it was difficult for newcomers to enter. However, Dewan saw an opportunity where others saw risk.
At a private investors' meeting in Karachi, he met with senior banking executives from Habib Bank to discuss financing options.
Banker: "Mr. Dewan, buying into the cement industry is a huge risk. It requires significant capital, and there are established players like Lucky Cement and Maple Leaf dominating the market."
Dewan Yousuf: "That's exactly why I want to enter. Pakistan's demand for cement will double in the coming decade. Infrastructure, real estate, and exports will drive this industry forward."
After months of negotiations, he secured the necessary loans and successfully took over Pakland Cement, renaming it Dewan Cement. This move established him as a major industrialist in Pakistan.
Similarly, Dewan Sugar Mills was set up in Sindh, capitalizing on the country's growing sugar demand.
The Dewan Group Is Born
By the early 1990s, Dewan Yousuf was no longer just a textile businessman—he was an industrial giant. His ventures in textiles, cement, and sugar were thriving, and he had established a strong reputation in Pakistan's corporate circles.
A formal holding structure was created, and all his businesses came under the umbrella of the Dewan Group.
At a corporate dinner in Karachi, attended by influential business leaders, an old acquaintance, Sultan Lakhani (CEO of Lakson Group), approached him.
Sultan Lakhani: "Yousuf, you've built something incredible. You've gone from textiles to cement and sugar in just over a decade."
Dewan Yousuf (smiling): "And I'm not stopping here, Sultan. The future is wide open."
Sultan Lakhani: "What's next for you?"
Dewan Yousuf: "Automobiles. Pakistan is growing, and the middle class will need cars. I want Dewan Motors to be a name that stands alongside Toyota and Honda in this country."
That conversation would soon lead to his next major expansion—Dewan Motors, in partnership with Hyundai and Kia.
Conclusion – The Foundation of an Empire
The Dewan Group's rise in the 1980s and early 1990s was built on bold decision-making, risk-taking, and a strategic vision. Under Dewan Muhammad Yousuf Farooqui's leadership, the company diversified into multiple industries, laying the groundwork for what would become one of Pakistan's largest business empires.
However, as history would later reveal, rapid expansion comes with risks, and not all business empires last forever.
Would the Dewan Group continue its rise, or would the very ambition that built it also lead to its downfall?
That is a question history would soon answer.
---