VEON raises planned Pakistan investment to $1.5 billion, says finance minister

VEON, the global telecom operator, now intends to invest $1.5 billion in Pakistan over the coming three years, compared with an earlier pledge of $1 billion, according to Profit by Pakistan Today. Finance Minister Muhammad Aurangzeb disclosed the revised figure on Tuesday, calling it a considerable step up that reflects continuing appetite among overseas investors. He made the remarks through a virtual address at the SDGs Investment Fair 2026 in Karachi, an event organised by UNDP Pakistan.

The new figure places the planned outlay $500 million above the earlier commitment, at a time when Pakistan is trying to draw in foreign capital and grow private-sector activity. The earlier plan targeted wider connectivity, upgraded infrastructure and faster digital innovation. Aurangzeb added that three Turkish firms have signalled interest in the initial power distribution company set for sale under the privatisation programme.

On the capital markets side, the minister noted that 11 IPOs were completed in the previous fiscal year and five more in the last quarter. He said Khaadi, a fashion retailer, is getting ready for a public offering, while roughly 22 REITs are expected to list in the coming couple of years. Aurangzeb also explained that companies raising equity on the PSX generally want funds to invest, grow existing businesses or set up new units.