Global telecom operator VEON raises Pakistan investment plan to $1.5bn from $1bn, says Aurangzeb

VEON, a global digital operator that provides mobile connectivity and services, has increased its planned investment in Pakistan over the next three years to $1.5 billion from $1 billion, Finance Minister Muhammad Aurangzeb said on Tuesday, signalling continued interest from international investors in the country.

“This is a significant jump,” Aurangzeb said in a virtual address at SDGs Investment Fair 2026: Investing in Pakistan’s Sustainable Future, organised by UNDP Pakistan in Karachi.

The increase comes as Pakistan seeks to attract foreign investment and expand private-sector activity amid efforts to stabilise the economy.

Earlier this year, VEON unveiled an ambitious $1 billion investment plan in a high-level meeting with the finance minister to expand connectivity, modernise infrastructure, and accelerate digital innovation across the country.

Meanwhile, in his address, the finance minister also pointed to growing interest from foreign investors in Pakistan’s privatisation programme, saying three Turkish companies had expressed interest in the first distribution company (DISCO) being offered for privatisation.

“We have the basic hygiene, which is being recognised at the local and international level.”

Talking about the Pakistan Stock Exchange (PSX), the finance minister said that following 11 initial public offerings (IPOs) in the previous fiscal year, five IPOs were completed in the last quarter.

“As you know, Khaadi is coming in with their IPO, and there are about 22 REITS, which are expected to list over the next couple of years,” said Aurangzeb.

“It’s again a data point because when someone is raising equity on the stock exchange, they’re obviously looking to either invest, expand their local commercial operations or set up new units.”