Global digital operator VEON has increased its planned investment in Pakistan over the next three years to $1.5 billion, up from its earlier commitment of $1 billion, Finance Minister Muhammad Aurangzeb announced on Tuesday.
Speaking virtually at the SDGs Investment Fair 2026: Investing in Pakistan’s Sustainable Future, organised by UNDP Pakistan in Karachi, Aurangzeb described the increase as a significant development and said it reflected continued international investor confidence in Pakistan.
VEON had earlier announced a $1 billion investment plan aimed at expanding digital connectivity, upgrading telecommunications infrastructure and accelerating digital innovation across the country. The revised commitment raises the company’s planned investment by $500 million.
The announcement comes as Pakistan continues efforts to attract foreign investment, strengthen private-sector activity and maintain economic stability. The government is also pursuing reforms and privatisation initiatives to encourage greater participation from international investors.
Aurangzeb said foreign interest in Pakistan’s privatisation programme was also increasing, noting that three Turkish companies had expressed interest in the first distribution company (DISCO) being offered for privatisation.
The finance minister also highlighted growing activity in Pakistan’s capital markets. He said the Pakistan Stock Exchange (PSX) recorded 11 initial public offerings (IPOs) during the previous fiscal year, while another five IPOs were completed during the last quarter.
Fashion retailer Khaadi is also preparing for an IPO, while around 22 real estate investment trusts (REITs) are expected to list over the next few years.
Aurangzeb said the increasing number of companies raising equity through the stock market was an encouraging indicator, as businesses typically seek capital to expand operations, invest in new projects or establish additional production facilities.
The government views increased investment commitments, growing capital-market activity and foreign participation in privatisation as important indicators of improving investor confidence and Pakistan’s broader economic outlook.
