PM Shehbaz and VEON CEO discuss Pakistan’s digital economy and 5G investments

Prime Minister Shehbaz Sharif met with Kaan Terzioglu, CEO of VEON Group, to explore investment opportunities in Pakistan and advance the digital economy. During the meeting, PM Shehbaz highlighted the recent successful auction of the 5G spectrum, where 480 megahertz was sold for $507 million, with Zong, Jazz, and Ufone securing different portions of the 2,600 MHz band. The prime minister also discussed government initiatives aimed at digitising the economy, ensuring transparency, and enhancing youth participation in IT sectors. VEON Group expressed keen interest in increasing their investments and appreciated Pakistan’s efforts towards establishing a cashless economy. Beyond 5G, the government is working to expand satellite-based internet, connect Pakistan to international cable systems to act as an internet transit hub, and broaden fibre networks across the country. These steps reflect a focused drive to strengthen Pakistan’s digital infrastructure and attract both local and foreign investment in technology and telecommunications. The dialogue underscores a mutual interest in leveraging digitalisation to support economic growth and technological advancement in the country.