Bibojee Group was founded by retired military officer Lieutenant General
Habibullah Khan Khattak during
Ayub Khan administration.
Ghandhara Industries Limited was acquired by
Gohar Ayub Khan and his
father-in-law, Habibullah Khan Khattak from
General Motors. In August 1969, following the political overthrow of Gohar Ayub's father,
Ayub Khan, he sold all his shares in the company to the
National Investment Trust and the
Investment Corporation of Pakistan. The subsequent nationalization of Gandhara Industries in 1973 was viewed by some as a move against Gohar Ayub's interests, possibly serving as political retribution. The company was nationalized in 1972 and was later renamed as Bela Engineers Limited. The following year, it was listed on the
Karachi Stock Exchange. ==Subsidiaries==