LAHORE: Renowned Pakistani businessman Seth Abid passed away in Karachi on Friday. He was 85.
Family sources say Seth Abid was in Karachi when he passed away. His funeral prayers will be offered tomorrow after Asar prayers in the city. Funeral prayers of the departed will be offered at Hafiz Ayaz Mosque, Phase 2 Defense, Karachi.
Anchorperson Mubashir Luqman in a tweet said well-known Pakistani businessman Seth Abid has passed away. He expressed his grief over the death of Seth Abid. Seth Abid is one of the mysterious characters in the history of Pakistan about whom many stories are famous.
Sad news. Legendary businessman Seth Abid dies. RIP.
— Mubasher Lucman (@mubasherlucman) January 8, 2021
Seth Abid was said to had played a key role in the completion of Pakistan’s nuclear program and help to bring equipment from France to Pakistan when the United States imposed sanctions.
Seth was known as the most important character in the era of Bhutto and Zia-ul-Haq but then he disappeared from the scene. His name then made headlines in November 2006 when his son Hafiz Ayaz was killed by his bodyguard in Lahore.
Prominent businessman Seth Hafiz Ayaz Ahmad, a son of late tycoon Seth Abid, was among five people gunned down by a security guard who went on a shooting spree in the city’s Sattokatla area in 2006.
Police said Rizwan, 30, the security guard of a private agency, had come to the Airlines Society, owned by Seth Abid, with his four colleagues and a supervisor for joining his new duty. When Seth Hafiz Ayyaz Ahmed reached there with his son, Rizwan opened fire on Ayyaz and on two of his colleagues.
The accused then started raising slogans of Allah-o-Akbar and chased another fleeing security guard and killed him. The indiscriminate shooting left six people, including two teenaged girls, injured.
With an estimated wealth of around $780 million, Seth Abid had constructed residential schemes under the brand name of Green Fort. He was a leading investor in stocks, metals and currency and also had a philanthropic venture by the name of Hamza Foundation. Also, he was commonly known as Sheikh Abid Hussain.
