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October 7, 2026
VEON has increased its planned three-year investment in Pakistan from $1 billion to $1.5 billion, Finance Minister Muhammad Aurangzeb said.
Global digital operator VEON has increased its planned investment in Pakistan over the next three years to $1.5 billion from the previously announced $1 billion, Finance Minister Muhammad Aurangzeb said on Tuesday.
Aurangzeb announced the increase while speaking virtually at the SDGs Investment Fair 2026, organised by UNDP Pakistan in Karachi. He described the additional $500 million commitment as a significant increase in VEON’s planned investment.
VEON had announced a $1 billion investment plan for Pakistan earlier this year. The plan was intended to support the expansion of connectivity, infrastructure modernisation and digital innovation across the country.
The revised $1.5 billion commitment increases the planned investment by 50% compared with the earlier figure. Aurangzeb said the higher commitment reflected continued interest from international investors as Pakistan seeks to attract foreign investment and expand private-sector activity.
VEON operates in Pakistan through Jazz, which provides telecommunications and digital services in the country. The company has been investing in network infrastructure and digital services as Pakistan’s connectivity and digital economy continue to expand.
During his address, the finance minister also discussed developments in Pakistan’s privatisation programme. He said three Turkish companies had expressed interest in the first distribution company being offered under the programme.
Aurangzeb also highlighted activity in Pakistan’s capital markets. He said 11 initial public offerings (IPOs) were completed during the previous fiscal year, while five IPOs were completed during the last quarter.
He added that Khaadi is preparing for an IPO, while around 22 real estate investment trusts (REITs) are expected to list on the stock market over the next couple of years.
According to the finance minister, companies raising equity through the Pakistan Stock Exchange are generally seeking to use the capital to invest, expand their existing operations or establish new business units.
The comments come as the government seeks to increase private-sector investment and attract international capital into Pakistan. The higher VEON commitment adds to the company’s previously announced plans for investment in connectivity, infrastructure and digital innovation.
VEON’s revised plan would bring its planned investment in Pakistan to $1.5 billion over the three-year period, subject to the company’s investment programme and implementation plans.
