Govt secures VEON backing after successful spectrum auction

March 31, 2026 (MLN): Pakistan’s recent multiband spectrum auction and improving macroeconomic stability drew strong endorsement from global telecom group VEON during a high-level meeting in Islamabad, with both sides reaffirming their commitment to expanding digital infrastructure, boosting investment, and accelerating the country’s transition toward a cashless and technology-driven economy.

The meeting was held at the Finance Division between a delegation led by Kaan Terzioğlu and Pakistan’s Federal Minister for Finance and Revenue, Muhammad Aurangzeb.

The delegation also included Aamir Ibrahim, CEO of Jazz, and Syed Zaheer Mehdi, Chief Corporate & Regulatory Officer.

 The minister welcomed the delegation and highlighted that the spectrum auction was conducted through a transparent and consultative process, describing it as a “win-win-win” outcome benefiting stakeholders and citizens through enhanced connectivity.

During the discussions, the government emphasized that the successful auction has elevated Pakistan’s profile in global telecom circles and reflects its commitment to policy consistency, transparency, and investor facilitation under the prime minister’s leadership, according to a press release issued.

Broader economic reforms, efforts to attract foreign investment, and initiatives in artificial intelligence and digital finance were also outlined as part of the country’s forward-looking strategy.

Mr. Terzioğlu appreciated Pakistan’s improving investment climate and reaffirmed VEON’s intention to expand its footprint beyond traditional telecom services, contributing to the country’s digital transformation.

Meanwhile, Mr. Aamir Ibrahim highlighted Jazz’s role in advancing financial inclusion through services like JazzCash, including support for targeted subsidy distribution and QR-based payment solutions developed in collaboration with government institutions.

The finance minister acknowledged VEON and Jazz’s contributions to strengthening Pakistan’s digital ecosystem and promoting a cashless economy, with both sides agreeing to deepen collaboration in telecom and digital sectors to support long-term economic growth.

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