Telecom operator Jazz on Monday presented a $1 billion investment plan to Finance Minister Muhammad Aurangzeb aimed at expanding connectivity, upgrading infrastructure and accelerating digital innovation in Pakistan.
The plan was discussed at a meeting at the Finance Division attended by JazzWorld CEO Aamir Ibrahim, VEON Group CEO Kaan Terzioglu and other senior executives.
Investment, spectrum expansion
Company officials outlined plans to invest $1 billion over the next three years to strengthen network capacity, following Jazz’s recent acquisition of 190 MHz of additional spectrum valued at more than $239 million.
The purchase increased the company’s total spectrum holdings from 94.4 MHz to 284.4 MHz.
Officials also highlighted their long-term commitment to Pakistan, citing more than $11 billion invested in digital infrastructure over the past three decades and contributions exceeding PKR 500 billion to the national exchequer over the last ten years.
Confidence in economic outlook
The meeting focused on Pakistan’s improving macroeconomic outlook and its transition from stabilization to growth.
Terzioglu congratulated the government on the successful completion of a recent multiband spectrum auction, noting improved economic stability.
Pakistan generated $510 million, or about PKR 142 billion, from the Next Generation Mobile Services spectrum auction, which authorities said was conducted transparently to balance pricing with long-term sector sustainability.
Aurangzeb said the outcome benefits all stakeholders, particularly citizens, through improved connectivity and access to digital services, adding that Pakistan has gained recognition in global telecom discussions.
Digital growth, collaboration
In a separate meeting with IT and Telecom Minister Shaza Fatima Khawaja, company officials emphasized the importance of public-private collaboration to expand broadband access, promote digital inclusion and support innovation and skills development.
Discussions also covered broader economic reforms, foreign investment and the role of emerging technologies such as artificial intelligence and digital finance in driving growth.
Terzioglu reaffirmed VEON’s commitment to expanding its presence in Pakistan, while Ibrahim highlighted Jazz’s role in advancing digital payments and financial inclusion through services such as JazzCash.
Both sides expressed a commitment to strengthening cooperation in the telecom and digital sectors to support Pakistan’s economic development.
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