[1][2] Ahmed Dawood was one of the country's senior industrialists[3] who was by 1933 with his firm the biggest supplier of imported yarn to the textile mills in India.
The Dawood Corporation was the first entity set up in Karachi and Manchester, UK, to start business activities in 1948.
It started initially from a small office and a shop in Karachi but their business grew over the coming decades.
[citation needed] While in 1970 all the undertakings together made it count as one of the largest business groups in the country, the following year marked an abrupt change: Following the creation of Bangladesh in 1971, almost 60% of the businesses led by Ahmed Dawood and all investments in East Pakistan were lost due to the nationalisation there.
[5] The remaining enterprises in Pakistan suffered further setbacks after the nationalisation in the early-mid-1970s.