VEON Raises Pakistan Investment Plan to $1.5 Billion

Global digital operator VEON has increased its planned investment in Pakistan to $1.5 billion over the next three years, up from the previously announced $1 billion, Finance Minister Muhammad Aurangzeb announced on Tuesday. The additional $500 million increase was described by Aurangzeb as a significant jump during a virtual appearance at the UNDP Pakistan-led SDGs Investment Fair 2026 in Karachi.

Earlier this year, VEON had unveiled an investment plan of $1 billion to bolster connectivity, modernize infrastructure, and spur digital innovation throughout Pakistan. Aurangzeb attributed the higher investment commitment to the country's ongoing efforts to entice foreign investment and stimulate private-sector growth.

Furthermore, Aurangzeb revealed that three Turkish companies have shown interest in the first distribution firm slated for privatization under Pakistan's privatization program. Regarding the Pakistan Stock Exchange, he reported that 11 initial public offerings were finalized in the previous fiscal year, while five IPOs were conducted in the most recent quarter.

He also mentioned that Khaadi is currently preparing for its IPO and that around 22 real estate investment trusts are anticipated to go public within the next couple of years.

Aurangzeb posited that entities raising capital via the stock market typically aim to invest, expand their operations locally, or establish new units.