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UBL Completes Core Banking Data Migration for 105 Ex-Silk Bank Branches in Six Months with AUTON8
Business

UBL Completes Core Banking Data Migration for 105 Ex-Silk Bank Branches in Six Months with AUTON8

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United Bank Limited (UBL) has successfully completed a large-scale core banking data migration with AUTON8 in six in months, transitioning data from Ex-Silkbank’s Temenos T24 core banking system to UBL’s Symbols platform. The program encompassed customer accounts records across 105 branches and was executed with zero critical data loss within six months, ensuring complete accuracy, reconciliation, and uninterrupted operational continuity. Read More: https://theboardroompk.com/gap-widens-imf-projects-3-2-growth-for-pakistan-below-govts-4-2-target/ The initiative addressed significant technical challenges, including high-volume data processing within restricted banking windows, complex mapping across account structures, branch codes, customer identifiers, and GL/symbol hierarchies, as well as the remediation of legacy data quality issues. To accelerate repeatable conversion cycles and reduce cutover risk, AUTON8 utilised MORPH to configure governed transformation logic between source and target structures, enabling the rapid refinement of mapping rules across dry runs with consistent outcomes carried into the final migration. Sohail Aziz, Chief Information and Digital Officer at UBL, said: “Executing a migration of this scale required precision, strong governance, and absolute confidence in data integrity. The program was delivered through disciplined planning, multiple validation cycles, and minimal operational disruption. This successful outcome strengthens our core banking foundation and supports UBL’s long-term objectives around stability, scalability, and digital modernization.” Farasat Ali Naqvi, EVP Core Banking at UBL, added: “The successful completion of this migration within 6 months represents a significant milestone for UBL. AUTON8 MORPH proved to be a game-changer for us — with its no-code, governed and traceable transformation approach made it possible to deliver this outcome at speed. AUTON8’s structured execution ensured data integrity, minimized operational risk and enabled a smooth post-migration transition.” Ali Raza, Chief Operating Officer at AUTON8, said: “This project reflects AUTON8’s strength in delivering mission-critical banking transformations under tight timelines. Migrating customer records across 105 branches between two entirely different core banking systems, while ensuring zero critical data loss, demonstrates our automation-led execution and deep banking domain expertise. AUTON8 MORPH—our no-code transformation platform—enabled governed, fully traceable mapping and conversion at scale, which is how we delivered within such a compressed timeframe.” The successful delivery of this project reinforces AUTON8’s position as a trusted transformation partner for large-scale banking data migrations, enabling financial institutions to modernize core platforms while safeguarding accuracy, resilience, and customer continuity. It is pertinent to mention here the merger of the United Bank Limited and Silk Bank took place last year under the supervision of the State Bank of Pakistan (SBP).

Pakistan Crosses $400M Monthly IT Exports Barrier in Dec 2025 – Up 26% YoY
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Pakistan Crosses $400M Monthly IT Exports Barrier in Dec 2025 – Up 26% YoY

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Pakistan’s IT sector has achieved a remarkable milestone by recording its highest-ever monthly exports of US$437 million in December 2025, according to the latest data released by the State Bank of Pakistan and analyzed by Topline Securities. This figure represents an impressive 26% year-on-year increase and a strong 23% month-on-month surge compared to November, marking the first time monthly IT exports have crossed the $400 million threshold and significantly surpassing the previous 12-month average of $341 million. The robust performance in December has helped push first-half FY26 IT exports to approximately US$2.2 billion, reflecting around 20% growth over the same period last year. Several factors have contributed to this acceleration, including the continued expansion of the client base particularly in the GCC region, the State Bank’s relaxation of foreign currency retention limits to 50%, the introduction of the Equity Investment Abroad facility allowing exporters to invest up to 50% of proceeds overseas, and the relative stability of the Pakistani rupee which has encouraged more timely and higher repatriation of profits. Net IT exports (after adjusting for imports) also showed exceptional strength, reaching US$377 million in December — a remarkable 70% year-on-year and 22% month-on-month increase — well above the recent 12-month average. Analysts at Topline Securities remain optimistic about the sector’s trajectory, projecting 18–20% growth for the full FY26, which could bring total IT exports close to the government’s ambitious US$5 billion target. Looking further ahead, the ‘Uraan Pakistan’ economic vision has set an even more aspirational goal of US$10 billion in IT exports by FY29. Within the listed IT space, Systems Limited (SYS) continues to stand out as a preferred investment pick, currently trading at attractive forward valuations of approximately 20.9x for 2025E and 13.7x for 2026E, making it one of the more compelling opportunities in Pakistan’s fast-growing technology sector.

Pakistan Records $135m Foreign Investment Outflow in Dec'25 Amid 43% Half-Year Decline
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Pakistan Records $135m Foreign Investment Outflow in Dec’25 Amid 43% Half-Year Decline

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Pakistan’s foreign direct investment (FDI) landscape showed mixed signals in the second half of 2025, with a notable net outflow recorded in December, according to data highlighted by leading brokerage firm Arif Habib Limited.In December 2025, the country experienced a net FDI outflow of USD 135 million, reversing the inflow trend seen in previous periods. This development comes amid ongoing economic stabilization efforts and global investor caution.Despite the monthly dip, certain countries remained key contributors to positive FDI flows. China, Hong Kong, and the UAE collectively accounted for 86% of the net inflows during the month, underscoring their continued strategic interest in Pakistan’s market despite broader challenges. For the first half of fiscal year 2026 (July–December 2025), net FDI inflows declined sharply by 43% year-on-year, dropping to USD 808 million from USD 1,425 million in the corresponding period of FY25. The contraction reflects a combination of factors, including domestic policy uncertainties, global economic headwinds, and delays in major project executions.Analysts view the December outflow as a temporary setback rather than a structural shift, given Pakistan’s improving macroeconomic indicators. The Pakistan Stock Exchange (PSX) has demonstrated resilience, with the benchmark KSE-100 Index hovering around 187,000 points as of mid-January 2026, supported by strong institutional buying, expectations of monetary easing, and progress in fiscal reforms. The market’s robust performance in early 2026—marked by multi-thousand-point rallies—signals investor optimism in long-term recovery. Experts emphasize the need to accelerate reforms in ease of doing business, energy sector stability, and privatization initiatives to reverse the FDI downturn. Sustained inflows from friendly nations like China (via CPEC projects) and Gulf partners could provide a buffer, while addressing structural bottlenecks remains crucial for attracting diversified foreign capital. The State Bank of Pakistan and economic policymakers are closely monitoring these trends, with hopes that improved external accounts and policy predictability will restore positive momentum in coming quarters.

SBP Governor Tells Banks to Prioritize Human Judgment Over AI in Loan Approvals
Business

SBP Governor Tells Banks to Prioritize Human Judgment Over AI in Loan Approvals

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State Bank of Pakistan (SBP) Governor Jameel Ahmad has called on financial institutions to ensure human judgment remains superior to artificial intelligence (AI) decisions, particularly in critical areas like loan approvals and customer due diligence. Speaking at the sixth AlBaraka Forum Regional Conference – Pakistan 2026, themed “Islamic Economy in the Digital Age – Innovation Within The Framework of Compliance,” the governor acknowledged the rapid adoption of AI in banking to boost efficiency, enhance risk management, and reduce costs. Read More: https://theboardroompk.com/pakistan-liquid-foreign-reserves-show-fresh-momentum-in-2026/ However, he stressed that “human oversight remains essential to monitor AI-driven decisions, especially in sensitive areas such as credit approval and customer due diligence.” This caution comes as Pakistan’s banking sector embraces digital transformation, with mobile banking apps, branchless banking, wallets, and electronic money institutions driving 78% of digital retail transactions. The governor highlighted the broader context of digital progress, including SBP initiatives like Raast, Assan Mobile Account, digital onboarding, Roshan Digital Account, and licensing of digital banks, which have expanded formal financial access. He noted global trends where over 70% of people use digital financial services and 80% are open to shifting to digital banking, signaling changing consumer expectations. In the realm of Islamic finance, Ahmad emphasized that technology should serve socioeconomic goals, promote inclusion for small businesses, farmers, and women entrepreneurs, and align with Shariah principles of fairness, transparency, and shared prosperity. He warned against risks where technology merely replicates conventional models, urging robust data protection and high regulatory standards beyond basic compliance. This guidance underscores the need for a balanced approach in Pakistan’s evolving financial landscape, where innovation must not compromise ethical and human-centric decision-making.

Cement Exports Increase 28.58% to $134.516 Million in 4 Months
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Cement Exports Increase 28.58% to $134.516 Million in 4 Months

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ISLAMABAD:The exports of cement witnessed an increase of 28.58 percent during the first four months of the current financial year 2025-26 as against the exports of the corresponding months of last year.The cement exports from the country were recorded at US $134.516 million during July-October (2025-26) against the exports of US $104.617 million during July-October (2024-25), according to the Pakistan Bureau of Statistics (PBS).In terms of quantity, the cement export also rose by 20.40 percent from 2,857,679 metric tons to 3,440,737 metric tons, the data revealed.Meanwhile, year-on-year basis, the cement exports witnessed a decrease of 9.92 percent during the month of October 2025 as compared to the same month of last year.The exports of cement from the country during October 2025 were recorded at US $35.511 million against the exports of US $39.423 million in October 2024.On a month-on-month basis, cement exports increased by 35.18 percent during October 2025 when compared to the exports of US $26.270 million in September 2025, the PBS data revealed

Manufacturing Sector Carries 60% Tax Burden, Four Times Higher Than Rest of Economy: Hafiz Pasha
Business, Pakistan

Manufacturing Sector Carries 60% Tax Burden, Four Times Higher Than Rest of Economy: Hafiz Pasha

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LAHORE: Former federal finance minister Dr Hafiz A Pasha has revealed that Pakistan’s large-scale manufacturing (LSM) sector shoulders a staggering 60% of the country’s total tax revenue – four times the burden borne by all other sectors combined – pushing the vital industry toward decline instead of growth.Speaking at the Lahore Chamber of Commerce and Industry (LCCI), Pasha highlighted the glaring tax imbalance, noting that high-potential sectors like agriculture contribute almost nothing despite 1% of landowners controlling 22% of prime farmland. Under IMF pressure, the government expects to collect a mere Rs4 billion from agriculture next year against Rs4,500 billion from manufacturing.He warned that investment in LSM has plummeted to levels lower than 25 years ago, with depreciating capital stock going unreplaced, choking sustainable expansion. Meanwhile, the non-productive real estate sector attracts the lion’s share of investment while contributing just 0.2% in taxes – 12 times less than industry.Pasha painted a grim socio-economic picture: 2.1 million unemployed youth, 2.6 million out-of-school children, and a record 22% workforce jobless. Only 6% of bank credit reaches three million small enterprises, with 80% diverted to government borrowing.LCCI President Faheemur Rehman Saigol blamed poor policies and governance for failing to harness Pakistan’s true economic potential, stressing that manufacturing and exports remain the real backbone of the economy.

Gul Ahmed Textile Strengthens Presence with New SITE Karachi Facility
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Gul Ahmed Textile Strengthens Presence with New SITE Karachi Facility

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Gul Ahmed Textile Mills Limited has announced that its Board of Directors has approved the acquisition of an industrial property in the Sindh Industrial Trading Estates (SITE), Noorlabad, District Jamshoro. The decision, shared in a notice to the Pakistan Stock Exchange (PSX) on Thursday, includes the purchase of Plot No. A-44 along with the associated land, building, plant, machinery, equipment, and other assets, subject to completion of all necessary legal, regulatory, and corporate formalities. The company stated that the Chief Executive Officer has been authorised to carry out the transaction independently. Additionally, the Chief Financial Officer and Company Secretary have been empowered to act jointly to perform all tasks and formalities required to finalise and give effect to the acquisition. The board emphasised that the move forms part of the company’s strategic efforts to expand its operational footprint and strengthen its presence in the industrial sector. Gul Ahmed Textile has requested the PSX to circulate the information to its members in accordance with Section 96 of the Securities Act, 2015, and the exchange’s regulations. This acquisition marks a significant step for Gul Ahmed Textile Mills, reinforcing its commitment to growth and operational efficiency while ensuring full compliance with corporate governance and regulatory requirements.

PPL to Build Pakistan’s First Artificial Island for Offshore Drilling by February 2026
Business

PPL to Build Pakistan’s First Artificial Island for Offshore Drilling by February 2026

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Islamabad, November 19, 2025 – Pakistan Petroleum Limited (PPL) is set to construct the country’s first artificial island 300 km off the Sindh coast to accelerate offshore oil and gas exploration, Bloomberg reported on Wednesday.Speaking on the sidelines of an oil and gas conference in Islamabad, PPL’s General Manager Exploration Arshad Palekar said the six-foot-high platform will shield operations from high tides, enabling 24/7 drilling. Drawing inspiration from Abu Dhabi’s successful artificial islands, construction is slated for completion in February 2026, with exploration commencing immediately.The project gains momentum from PPL’s recent farm-out agreement with Turkish Petroleum Overseas Company (TPOC) for the Eastern Offshore Indus C Block, strengthening Pakistan-Turkiye energy ties. Last month, Pakistan awarded 23 offshore blocks—the first such round in nearly two decades—to consortia led by local firms, some including foreign partners like TPAO. The initiative aims to narrow the widening oil and gas supply-demand gap through aggressive offshore exploration.

Turkiye Shows Interest to Invest in Sindh’s SEZs Special Economic Zones
Business

Turkiye Shows Interest to Invest in Sindh’s SEZs Special Economic Zones

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Karachi: Special Assistant to the Chief Minister of Sindh on Investment and Public-Private Partnership, Syed Qasim Naveed Qamar, held a productive meeting with Türkiye’s Consul General Ergul Kadak and Commercial Attaché Murat Ozmen at the Sindh Investment Department office to explore bilateral investment prospects. Qamar delivered a comprehensive briefing on high-potential sectors, spotlighting the Dhabeji and Khairpur Special Economic Zones (SEZs), Karachi Education City, Marble City Karachi, as well as opportunities in education, agriculture, renewable energy, IT, infrastructure, water recycling, environment, and industry. He emphasized government-backed initiatives such as the Sindh Transmission and Dispatch Company and attractive tax incentives for SEZ investors. The Turkish Consul General expressed keen interest, particularly in Karachi Education City. Qamar also highlighted Khairpur’s thriving date production sector and invited Turkish investment in value-added processing. He reaffirmed the provincial government’s commitment to establishing a new SEZ in Hyderabad, noting strong interest from motorcycle and electric appliance manufacturers. Secretary Investment Raja Khurram Shahzad briefed the delegation on Sindh’s rich mineral reserves and ongoing projects, underscoring the province’s investor-friendly policies and incentives.

Retail Investors Fuel Pakistan Stock Exchange’s 40% Surge in 2025, Highest Turnover Since 2017
Business, Pakistan

Retail Investors Fuel Pakistan Stock Exchange’s 40% Surge in 2025, Highest Turnover Since 2017

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Karachi, November 19, 2025 – Pakistan’s benchmark KSE-100 Index has soared nearly 40% year-to-date in 2025, powered largely by retail investors who are pouring money into equities as real estate remains stagnant and bank deposit rates fall, Bloomberg reported on Wednesday.Daily trading volumes crossed $200 million in October – the highest since 2017 – while inflows into local equity mutual funds accelerated sharply. By September, stocks accounted for almost 16% of total assets under management, according to the Mutual Funds Association of Pakistan.“We’re now seeing a liquidity-led rally,” said Mohammed Sohail, CEO of Topline Securities. “Unless that liquidity finds a new avenue, the markets will likely stay strong.”The rally follows Pakistan’s narrow escape from sovereign default in 2023, with recent credit rating upgrades from S&P and Fitch restoring investor confidence. Improved ties with the United States, spearheaded by Army Chief Field Marshal Asim Munir, have also bolstered sentiment.Foreign investors remain cautious, but domestic individuals are filling the gap. “After years of political musical chairs, the country finally has stability that could last,” said Mattias Martinsson, CIO at Sweden’s Tundra Fonder.Risks persist: inflation surged unexpectedly in October and fresh tensions with India or Afghanistan could reverse gains. Yet analysts believe the structural shift toward equities is only beginning.

The Boardroom PK delivers trusted business news, analysis, and insights from Pakistan and beyond, keeping readers informed, inspired, and ahead in the evolving world of business and leadership.

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