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 described the increase as a significant development, saying it reflected continued confidence among international investors in Pakistan.
“This is a significant jump,” the finance minister said in a virtual address to the SDGs Investment Fair 2026, organised by UNDP Pakistan in Karachi.
VEON had earlier announced plans to invest $1 billion in Pakistan to expand mobile connectivity, upgrade digital infrastructure and support the development of new digital services.
The larger investment commitment comes as the government works to attract foreign capital and encourage greater private-sector participation as the economy moves through a period of stabilisation.
Aurangzeb also highlighted growing foreign interest in the government’s privatisation programme, saying three Turkish companies had shown 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,” he said.
The finance minister also pointed to developments in Pakistan’s capital markets as another sign of improving investor confidence.
He said 11 initial public offerings (IPOs) were completed during the previous fiscal year, while five more were completed in the last quarter.
“Khaadi is coming in with their IPO, and there are about 22 REITs, which are expected to list over the next couple of years,” Aurangzeb said.
He said companies raising equity through the Pakistan Stock Exchange were generally seeking funds to expand their businesses, increase investment in existing operations or establish new units.
“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,” he added.
The finance minister’s remarks come as Pakistan seeks to build on recent economic stabilisation by drawing more investment into infrastructure, technology and other productive sectors.
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