Pakistan offers far more opportunities than challenges for doing business. This fact has held since 1965, when my father, Z. Z. Ahmed, and I founded Associated Group. And, in many ways, this fact is truer now.
The challenges are well chronicled, and each affords unique ground for securing and investing in our collective future. Pakistan is a young nation of some 180 million. It is a market whose potential has yet to be fully tapped by local and international investors, whose industry and commitment are essential and must be welcomed to manage the requirements of a rapidly growing population.
AG is proud of its half century of contributions to Pakistan. It is an energy sector leader and pioneer. It is the country’s premier producer, transporter and marketer of liquefied petroleum gas catering to the energy needs of half million households nationwide. Our power generation, media, design and construction enterprises have been implemented successfully and enriched their respective sectors by bringing in new technology and solutions, a can-do spirit, and competition.
Our flagship company, JJVL, was awarded through international competitive bidding and represents the largest investment ever made in Pakistan’s LPG sector. JJVL commenced production in March 2005 extracting liquids, which were previously being flared, from raw Badin field gas. Its product is marketed through long-term contracts with over 20 LPG marketing companies ensuring a high degree of competition that benefits end-consumers. JJVL is also among the country’s largest taxpayers. Our company Pakistan Power Resources, which is incorporated in Oklahoma, set up a brand new 136-megawatt power plant at Bhikhi, near Lahore, in a record short eight months.
Our endeavors have been rewarded by the marketplace and hailed by our global peers. AG projects have attracted foreign and local technical and equity partners, even in the immediate aftermath of the 9/11 attacks in the U.S. and paroxysms of violence at home, and these associates have shown an encouraging appetite for and dedication to Pakistan.
In the LPG sector, the industry has gained significantly from the global experience and expertise of Houston-based Exterran, formerly The Hanover Company, which built and maintains our state-of-the-art LPG extraction facilities in Jamshoro, Sindh. The support of our American, European and Chinese partners and that of the Overseas Private Investment Corporation is accelerating the development of our key energy sector initiatives.
AG has also featured in the international press, including Newsweek International and Forbes. JJVL, has been a finalist every year from 2006 to 2012 at the Platts Global Energy Awards.
Business that is socially responsible, progressed transparently and competitively, built through honest days’ work, and geared for the greater good is a business that is made to last. It endures and overcomes. AG is committed to Pakistan and will continue to break new ground and capitalize on fresh opportunities to safeguard the country’s economic future.
We are pleased to share with you AG’s successes as a leader of Pakistani industry and its hopes and plans for our bright tomorrow.
Iqbal Z. Ahmed