I do not think so its the case. NS is not an ordinary person. He should have NTN and he is a company director. The only possible reason he does not have one is explained by me above.
Alot of established businesses dont have NTNs, and also, I dont think Nawaz's business is in his name, as I dont know about now but before it was all under Abba Jee's name.
I can also tell you the same goes for Kohinoor Mills, who at one time were the richest in Pakistan.