- Pakistan State Oil Company. Revenues: $11.57 billion
Pakistan State Oil is the largest oil marketing company in the country, with a 67% share in the retail fuel market. It is owned by the government of Pakistan and was established in 1976.
- Pak-Arab Refinery. Revenues: $3.00 billion
Pak-Arab Refinery (PARCO) is the largest oil refining company in the country. It was set up in 1974 as a joint venture between the governments of Pakistan and Abu Dhabi.
- Sui Northern Gas Pipelines. Revenues: $2.52 billion
Sui Northern Gas Pipelines is one of three gas distribution companies in Pakistan, with mandate to supply gas to Punjab and Khyber-Pakhtunkhwa. It is owned by the government of Pakistan.
- Shell Pakistan. Revenues: $2.38 billion
Established in 1928 as Burmah Shell, this company is the oldest oil marketing company in Pakistan and the second largest. It is the Pakistani subsidiary of global oil giant Royal Dutch Shell.
- Oil & Gas Development Company. Revenues: $2.23 billion
OGDC is the largest company in the country by market capitalisation as well as being the largest domestic oil producer. It is owned by the government of Pakistan.
- National Refinery. Revenues: $1.97 billion
The second largest oil refinery in the country by revenues, National Refinery is one of two refineries owned by the Attock Group, the largest private sector oil conglomerate in Pakistan.
- Hub Power Company. Revenues: $1.97 billion
Hubco is the largest private sector power generation company in Pakistan and originally established by French power companies. It is now owned in part by the Dawood Hercules Corporation.
- Karachi Electric Supply Company. Revenues: $1.84 billion
Established in 1912, the Karachi Electric Supply Company is the oldest utility company in Pakistan and the oldest company still listed on the Karachi Stock Exchange. It is owned in part by Abraaj Capital.
- Attock Refinery. Revenues: $1.74 billion
The third largest oil refinery in the country by revenues, Attock Refinery is one of two refineries owned by the Attock Group, the largest private sector oil conglomerate in Pakistan.
- Attock Petroleum. Revenues: $1.72 billion
APL is the second-largest private sector oil marketing company, with more than 350 retail outlets across the country. It is owned by the Attock Group, the largest private oil conglomerate in Pakistan.
- Lahore Electric Supply Company. Revenues: $1.49 billion
Lesco came into existence in its current form in 1994, when the government of Pakistan split up the state-owned power distribution company into regional groups. Lesco remains state-owned.
- Pakistan Refinery. Revenues: $1.44 billion
The oldest oil refining company in Pakistan, PRL is one of only two refineries that is still at least partially state-owned. It is set to become the smallest after Byco’s new refinery comes online in 2013.
- Sui Southern Gas Company. Revenues: $1.38 billion
SSGC is the second largest gas distribution company in the country, serving the populations of Sindh and Balochistan. It has remained state-owned since it was created in its current form in 1989.
- Pakistan International Airlines. Revenues: $1.36 billion
Founded in 1956, Pakistan International Airlines is Pakistan’s national flag carrier. This company is begrudgingly included in the billion dollar list, since its expenses vastly exceed its revenues.
- Engro Corporation. Revenues: $1.29 billion
It is one of the largest private sector industrial conglomerates in the country with interests in fertiliser manufacturing, food, energy and others. Its largest shareholder is the Dawood Hercules Corporation.
- Pakistan Telecommunications Company. Revenues: $1.25 billion
PTCL was once a monopoly provider of telecommunications services in Pakistan and is still the largest player by revenues. It is jointly owned by the government of Pakistan and Etisalat of the UAE.
- Kot Addu Power Company. Revenues: $1.14 billion
Kapco is the second largest power generation company in the country. It is partially owned by the government of Pakistan and supplies power to southern Punjab.
- Mobilink. Revenues: $1.11 billion
Formally known as Pakistan Mobile Communications Ltd, Mobilink is the largest telecommunication provider in Pakistan and is owned by Egypt-based Orascom Telecom.
- Pakistan Petroleum. Revenues: $1.09 billion
PPL is the second largest oil exploration and development company in the country and is majority-owned by the government of Pakistan. It was founded in 1950 as the subsidiary of a British oil firm.
Published in The Express Tribune, December 24th, 2012.