Iqbal Z. Ahmed
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Iqbal Z. Ahmed | |
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 Iqbal Z. Ahmed with Pakistan's former prime minister Benazir Bhutto | |
| Born | February 3, 1946 Patna, India |
| Occupation(s) | Businessman, philanthropist |
Iqbal Zafaruddin Ahmed or Iqbal Z. Ahmed (born 3 February 1946) is a businessman and philanthropist of Pakistan. He is the founder of Associated Group.
Biography
[edit]Born in Patna, India, Ahmed is the son of Zohra (died 1979) and Z. Z. Ahmed (1910–1989), a former deputy inspector general of Pakistan Police. He was schooled at Sadiq Public School, Bahawalpur, and Aitchison College, Lahore. He has a bachelor's degree in economics from Government College, Lahore, and a master's degree in economics from Punjab University, Lahore.
Career
[edit]Associated Group (AG) was cofounded by Ahmed and his father in 1965. Today, AG is among Pakistan's largest producers, transporters and marketers of liquefied petroleum gas (LPG) in the private sector. Its companies include Jamshoro Joint Venture Limited, Pakistan GasPort Consortium Limited, Lub Gas, Mehran LPG, AG Publications, and Associated Estate Developers (AEDL). AG has its headquarters at Lahore and offices in Islamabad and Karachi. AG's philanthropic efforts are directed through the Zohra and Z. Z. Ahmed Foundation. AG chairman Ahmed is also the Publisher and chairman of the board of Newsweek Pakistan.
In 2024, the Sindh High Court returned to Pakistan's National Accountability Bureau (NAB) a corruption reference filed against Ahmed and his sons owing to lack of jurisdiction, bringing to a close a case pending since 2019.[1]
The same year, in his capacity as JJVL chairman, Ahmed urged the Government of Pakistan to deregulate the base-stock price of local Liquefied Petroleum Gas (LPG) or imported LPG in a new proposed LPG Policy to allow market forces to determine pricing.[2] As the founding chairman of Pakistan GasPort Limited, Ahmed has called on the Government of Pakistan to allow the private sector to import LNG to facilitate the provision of cheap energy to end consumers.[3]
On February 23, 2024, Ahmed was among the speakers who addressed the opening ceremony of the Lahore Literary Festival (LLF), a not-for-profit annual event whose body he serves as chairman.[4]
Honors
[edit]Self-made businessman Ahmed, who started in business at the age of 16, has been featured in Newsweek International and Forbes, Bloomberg TV, Reuters, CNBC[5] and profiled on CNBC Pakistan.
The state of Oklahoma declared 21 April 2009, as "Iqbal Z. Ahmed Day" to commemorate, according to the proclamation issued by Governor Brad Henry: "Mr. Ahmed's efforts to bring stability to the region and improve relations between Pakistan and the United States includ[ing] his support for President Obama's plan to add economic support to previously provided military support, shifting the priority for America's investment in Pakistan's stability; and ... Mr. Ahmed's efforts to champion peace and stability in Pakistan and the region; improve relations between Pakistan and the United States; provide power to underserved areas of his country; and forge a mutually beneficial partnership between Pakistan and Oklahoma businesses [a]s a positive example for everyone".
JJVL, Pakistan's single largest producer of LPG which represents post-9/11 foreign direct investment, has been recognised by its peers in the global energy world becoming a finalist six times, four years in a row, at the Platts Global Energy Awards held annually in New York.
Newsweek Pakistan and Ahmed hosted an exclusive event for Abdullah Gül, President of Turkey, at Lahore on 2 April 2010.[6]
The Lahore Chamber of Commerce and Industry, on 14 September 2012, awarded Ahmed the President of Pakistan trophy for his contribution to Pakistan's economy.
Organizations
[edit]Ahmed is the chairperson of Lahore Literary Festival Society, president of Government College University's (GCU) Endowment Trust Fund, member of the Faiz Ahmed Faiz Foundation, chairman of the Services Institute of Medical Sciences (SIMS), president of King Edward Medical University's (KEMU) Mobilization Fund, and a trustee of National College of Arts' (NCA) Endowment Board. He has also served on the board of the Punjab Red Crescent Society, and is a member of the American Business Forum (ABF). Ahmed is also the elected chairman of the LPG Association of Pakistan (LPGAP). He has previously served as the president of the India-Pakistan World Punjabi Organization.
Philanthropy
[edit]In his individual capacity and through his foundation, the Zohra and Z.Z. Ahmed Foundation, Ahmed has undertaken philanthropy worth over $1.5 million. Spanning an array of fields from education to healthcare to community empowerment, and the arts, the Zohra and Z.Z. Ahmed Foundation was recognized for its charity outlay in 2012 by the Pakistan Center for Philanthropy as one of the top 10 institutions in Pakistan.
Over the years, he has served as patron of the Government College University; National College of Arts; Beaconhouse National University; LABARD; Edhi Foundation; and the Shaukat Khanum Memorial Cancer Hospital. In 2024, he was re-appointed President of the Executive Committee of the Endowment Fund Trust of Government College University for a two-year term, having previously served in the same position from 2005–2022, and raising over Rs. 500 million for the Trust.[7]
References
[edit]- ^ Katpar, Yousuf. "Reference against JJVL owner and sons returned to NAB". The News. Jang Group. Retrieved 14 February 2024.
- ^ Bhutta, Zafar. "JJVL calls for deregulation in LPG Policy". Express Tribune. Express News Network. Retrieved 14 February 2024.
- ^ Mustafa, Khalid. "'Private sector must be allowed to import cheap LNG'". The News. Jang Group. Retrieved 7 June 2024.
- ^ "Curtain rises on 2024 LLF". Express Tribune. Express News Network. Retrieved 23 February 2024.
- ^ "Pakistan will face power shortages this winter and indigenous supply is needed". CNBC. NBCUniversal Media, LLC. Retrieved 25 March 2024.
- ^ "Newsweek Pakistan event caps President Gul's state visit". Business Recorder. Business Recorder Group. 3 April 2010. Retrieved 26 March 2024.
- ^ "GCU Board of Trustees approves name of Iqbal Ahmed as member". Business Recorder. Business Recorder Group. Retrieved 25 March 2024.