By 2018, as the Dewan Group reeled from financial investigations, mounting debt, and internal restructuring, the business landscape in Pakistan was undergoing a quiet but decisive shift. Where once the Dewans had ruled with relative dominance across multiple sectors, a new generation of corporate contenders had begun to rise—leaner, tech-savvy, well-capitalized, and politically insulated.
The age of dynastic industrial empires was being challenged by corporations born of hedge funds, foreign investment, and aggressive market expansion strategies.
Scene 1: A Boardroom Analysis
At the Dewan headquarters in Karachi, a weekly strategy session took on a different tone.
Present:
Dewan Yousuf Farooqui (Chairman)
Batool Qureshi (COO, Dewan Motors)
Faraz Mahmood (CEO, Dewan Cement)
Danish Farooqui (Special Projects)
Ahsan Mehmood (Strategy & Intelligence Advisor)
Batool opened the meeting with a detailed presentation:
"In the past 18 months, we've lost 14% of our automotive market share. Al-Haj FAW and Master Motors have captured mid-tier and fleet clients. Hyundai-Nishat is consolidating in Lahore. Sazgar is rolling out electric rickshaws and has MoUs with Chinese EV firms."
Ahsan added, "In cement, DG Khan Cement and Lucky Cement are expanding via CPEC contracts. They're underpricing us in KPK and Balochistan."
Yousuf asked quietly, "And why is that?"
"They're backed by better cash reserves. Lucky is supported by the Yunus Brothers Group with textile cross-financing. DG Khan is backed by the Nishat Group. These are conglomerates with deep liquidity and political reach."
Scene 2: The Arrival of Hyundai-Nishat
The entry of Hyundai into Pakistan, in partnership with Mian Mansha's Nishat Group, marked a pivotal moment. With an assembly plant in Faisalabad and strategic investments from Korea, the company began producing models directly competitive with Dewan Motors' lineup.
In an interview with Business Recorder, Mian Mansha commented:
"We are focused on quality, scale, and technology. This isn't just about cars—it's about ecosystems. Charging stations, fintech-based financing, embedded smart technology."
The interview hit Dewan headquarters hard.
"He's not just building a product," Batool remarked after reading the article, "He's building the future."
Scene 3: Cement Wars in the North
Up north, Dewan Cement's plants were facing pricing pressure from Maple Leaf and Bestway Cement.
At a trade dinner in Islamabad, Faraz Mahmood was pulled aside by a procurement officer from a major construction firm.
"Your prices are too high. And your logistics are unreliable. Bestway gives us FOB delivery and CPEC corridor discounts. Why should we stick with you?"
Back in Karachi, Faraz reported, "If we don't modernize the plant and get access to the CPEC-linked infrastructure funding, we'll lose the northern market."
But access to CPEC-related funds was being cornered by groups with stronger political ties.
Scene 4: Political Shifts and Lost Ground
The 2018 elections saw the rise of the Pakistan Tehreek-e-Insaf (PTI), a party that had campaigned on anti-corruption and institutional reform. Dewan Group, once aligned with PML-Q and remnants of the Musharraf era, found itself without key allies.
New players like the Habib Rafiq Group (developers of Capital Smart City) and Blue World City were gaining massive government favors in real estate, infrastructure, and exports.
At a high-level briefing in Islamabad, a senior Planning Commission officer allegedly told a Dewan representative:
"You're not in the new inner circle. The world has moved on. You need to reinvent—or fade."
Scene 5: The Digital Disruptors
It wasn't just traditional competitors that posed threats. Tech-based startups were encroaching on previously secure Dewan territory.
Ride-hailing apps like Careem, Uber, and later InDrive reduced the demand for individual car ownership.
Real estate platforms like Zameen.com and Graana were transforming the way property was bought and sold, bypassing large developers like Dewan Properties.
Fintechs like Finja and SadaPay were reimagining consumer credit, challenging the need for traditional bank-financed auto loans.
"We're not fighting just industries now," Ahsan warned in a special internal report. "We're fighting platforms."
Scene 6: Strategic Missteps
In hindsight, Dewan's failure to build strategic partnerships during their boom years left them isolated. Where Lucky and Nishat forged alliances—with China, Korea, and UAE—Dewan remained largely domestic.
An internal memo by Ahsan stated:
"We are an empire built on independence. That was once our strength. It is now our vulnerability."
Scene 7: Dialogue with the Next Generation
In a rare family conclave at the Clifton residence, Yousuf gathered his children and key managers.
"The market isn't the same. The world isn't the same. If Dewan is to remain relevant, it can't be a monument. It must become a movement."
Danish replied, "Then we need to act like a startup. Focus on 2-3 verticals. Sell the rest. Get agile."
"We need to partner internationally. And digitally. Look at what Alibaba did in Daraz. Or what Tesla is doing with data," Batool added.
Yousuf looked at them. "Then take the lead. But do not forget—legacy is not just what you build. It's also what you protect."
Scene 8: The Emerging Map of Competition
By end-2018, the industrial chessboard of Pakistan looked starkly different:
Lucky Cement dominated the south and west.
DG Khan and Bestway controlled the north.
Hyundai-Nishat and Kia-Lucky controlled the middle-class automotive segment.
Sazgar, Regal Automobiles, and Al-Haj FAW captured the low-cost and logistics fleet markets.
Tech startups siphoned consumers directly, redefining logistics, real estate, and financing.
Final Thoughts
Chapter 28 chronicles not just the rise of Dewan's competitors but the transformation of the playing field itself. The Dewan Group faced not merely market rivalry, but a systemic reinvention of industry, power, and consumer behavior.
Question for Readers: Is it better for legacy businesses to diversify and dominate—or to specialize and adapt? Can the Dewan model evolve in a world where disruption is constant and political capital can outweigh business strategy?