EFU Life receives new rating

EFU Life Assurance Ltd has been awarded the AM1(p) (Excellent Management Quality) rating by VIS Credit Rating Company, the highest possible rating for an asset manager, as per a press release.

The AM1(p) rating reflects EFU Life’s exceptional standards in governance, investment processes, risk management, leadership capability, fund performance, technology enablement, distribution strength, and strategic expansion into new market segments.

With Assets under Management (AUM) worth Rs260bn, EFU Life ranks among Pakistan’s leading fund managers and stands in the top quartile under the AUM-weighted framework, supported by its scale, franchise strength, and concentration in medium-risk funds.

In addition to the AM1(p) rating, the company has an IFS rating of AA++ (Outlook: Stable) by VIS, recognising EFU Life’s leadership position, strong sponsorship profile, stable senior management, sound reinsurance arrangements, and robust liquidity and capitalisation.

PTCL Group backs U Bank

Pakistan Telecommunication Company Limited (PTCL), the parent company of U Microfinance Bank Limited (U Bank), has approved a capital injection of Rs15 billion (U Bank received the first tranche of Rs4bn on December 31, 2025) (approximately $53m) into the Bank, as per a press release.

The capital injection is intended to support U Bank’s sustained growth trajectory and the development of its digital banking platform, enabling enhanced customer outreach and service delivery.

Hatem Bamatraf, Chairman of U Microfinance Bank and Group Chief Executive Officer, PTCL Group, reaffirmed PTCL Group’s commitment to initiatives that promote financial inclusion, innovation, and socioeconomic development across Pakistan. He noted that the capital injection reflects the group’s confidence in U Bank’s digital transformation strategy and its potential to strengthen the microfinance banking ecosystem.

While Tooran Asif, President and Chief Executive Officer, U Microfinance Bank, expressed appreciation to PTCL Group and the State Bank of Pakistan for their continued support and guidance.

K-Electrics year in review

In 2025, K-Electric (KE) showed steady progress across its businesses of generation, transmission, distribution, and supply, alongside continued investments in digital transformation and customer engagement, according to a press release.

During the year, KE met Karachi’s peak demand of 3,563 MW during June 2025 with a peak supply of 3,545 MW; secured Pakistan’s lowest renewable tariffs, ranging between Rs8.9­­–11.6 per unit for its 640 MW clean energy projects; accelerated its transition to cleaner energy; carried out drives to remove over 25,000 kundas; organised 310 faciliatation camps; and provided 399 new industrial connections.

The company also focused on customer satisfaction by launching an artificial intelligence powered chatbox, Kineto.

Meanwhile, by the start of December, over 1.2 million customers were actively using the KE Live App, a number that stood at 1m at the start of the year.

Finally, KE also held the Energy Progress & Innovation Challenge which united entrepreneurs, academia, researchers, and think tanks to develop solutions for the energy sector. During the year, KE’s Multi-Year Tariff was also approved, establishing a framework for investments, performance benchmarks, and cost recovery.

Saquib Ahmad joins Systems Limited

Saquib Ahmad has assumed the role of Global Chief Growth Officer at Systems Limited, a leading global technology and business process outsourcing company, according to a press release. In this capacity, he will focus on accelerating international growth, strengthening market presence, and advancing strategic expansion across both established and emerging markets.

With more than 27 years of leadership experience across the telecom and information technology sectors, Saquib brings a strong track record in enterprise sales, business development, and large-scale growth strategy. His career spans senior roles across Pakistan, the Middle East, Europe, and Asia, where he has led high-performing teams and delivered sustained, multimillion-dollar revenue growth.

Prior to this role, Saquib served as Country Managing Director for SAP across Pakistan, Afghanistan, Iraq, and Bahrain. His earlier leadership positions include tenures at Oracle, Comptel, Nokia Siemens Networks, and Siemens in markets including the UAE, Spain, and Germany.

Published in Dawn, The Business and Finance Weekly, January 5th, 2026