Background: Leadership is increasingly recognized as an essential component of healthcare, particularly in resource-limited settings. Globally, organizations like the World Health Organization (WHO) advocate for integrating leadership development in medical education to improve healthcare outcomes. Institutions like the General Medical Council (GMC) and the Association of American Medical Colleges (AAMC) have emphasized incorporating leadership training into medical curricula. However, gaps remain, especially in countries like Pakistan, where formal leadership education is limited. This study explores the perspectives of medical students, faculty, and administrators on the leadership competencies needed in undergraduate medical education in Pakistan. Methodology: A cross-sectional descriptive study was conducted at Khyber Medical University in Peshawar, involving 300 participants: 150 medical students, 100 faculty physicians, and 50 administrators. Stratified random sampling was used to select participants. Data were collected through a structured questionnaire covering demographic details, perceived importance of leadership competencies, and self-reported preparedness. Competencies were drawn from international leadership frameworks. Descriptive and inferential statistics (ANOVA, t-tests, Chisquare) were used to analyze the data, with a p-value of <0.05 indicating statistical significance. Results: Significant differences were observed in the perceived importance of leadership competencies across the groups. Faculty and administrators rated communication skills, team management, decision-making, and conflict resolution higher than students (p < 0.05). Students reported lower preparedness, particularly in decision-making and conflict resolution. Faculty and administrators expressed concerns about the lack of formal leadership training and the dominance of clinical education in the curriculum. Conclusion: This study underscores the need for structured leadership training in undergraduate medical education in Pakistan. A formal leadership curriculum, integrated with clinical education and supported by faculty development, will better prepare medical students for leadership roles and enhance healthcare delivery in Pakistan.