Chairman and CEO
Iqbal Z. Ahmed founded Associated Group (AG) in 1965, shaping it into one of Pakistan’s leading energy conglomerates. Over the decades, AG has played a pivotal role in expanding and modernizing the country’s energy sector.
In 2018, Ahmed spearheaded Pakistan’s largest LNG import terminal, a $500 million greenfield project in Karachi, reinforcing the nation’s energy infrastructure. Earlier, in 2005, he established Pakistan’s largest and most efficient LPG production facility in Hyderabad, setting a benchmark in gas processing through patented technology. His contributions also include developing short-term power plants in Naudero and Bhikhi, further addressing the country’s energy needs. In the course of his 60-year career, he has mobilized an investment of about $1 billion in the country.
Recognized for his entrepreneurial vision and industry leadership, Ahmed has been featured in Newsweek International, Forbes, Bloomberg, Reuters, Dawn, and CNBC. He has addressed key global energy summits, including the CWC LNG Summits (Lisbon, 2018 and 2019) and Gastech (Milan, 2020, and Singapore, 2023). In July 2024, he was appointed to the Prime Minister’s Committee on the E&P Sector, underscoring his expertise in energy policy and infrastructure development.
Beyond business, Ahmed is a prominent figure in media, literature, and education. He is the publisher of The Standard (formerly Newsweek Pakistan, which operated under license from Newsweek LLC). As Chairman of the Lahore Literary Festival (LLF), he played a key role in Lahore’s designation as a UNESCO City of Literature. He also chairs the Government College University Endowment Fund, a role central to advancing education in Pakistan, and previously served as Chairman of the Services Institute of Medical Sciences (SIMS), Lahore.
For his contributions, Ahmed was honored with the Lahore Chamber of Commerce and Industry’s President of Pakistan Trophy in 2012, presented by President Asif Ali Zardari.
He holds a bachelor’s degree in economics from Government College and a master’s degree in economics from Punjab University.