VEON Sees Pakistan As Key Growth Market, Eyes Further Telecom Investment.
✧ GENERATE BRIEFING +
Global digital operator VEON has reaffirmed Pakistan's critical role in its long-term growth strategy, with Group CEO Kaan Terzioğlu announcing plans for continued capital investment in the country's telecommunications and digital infrastructure. During a high-level meeting in Islamabad with Pakistan Telecommunication Authority (PTA) Chairman Major General (R) Hafeez Ur Rehman, VEON and Jazz leadership reviewed ongoing network expansions, digital services growth, and the evolving regulatory framework. Backed by its recent acquisition of 190 MHz of spectrum for $239.5 million during the March 2026 auction, Jazz has aggressively scaled its infrastructure, already surpassing 1,000 live 5G sites with targets to exceed 2,500 sites by the end of 2026.Operating through its Pakistani subsidiary Jazz—which boasts over 71 million subscribers, including more than 43.9 million 4G users—VEON is rapidly expanding beyond traditional connectivity into a robust digital ecosystem encompassing fintech, mobile banking, insurance, and enterprise technology. Terzioğlu emphasized that realizing Pakistan's full 5G potential requires sustained capital deployment alongside forward-looking policies that ensure industry sustainability.
Global digital operator VEON has reaffirmed Pakistan’s importance to its growth strategy, with Group CEO Kaan Terzioğlu saying the company remains committed to investing in the country’s telecom and digital infrastructure.
Terzioğlu made the remarks during a meeting with Pakistan Telecommunication Authority (PTA) Chairman Major General (R) Hafeez Ur Rehman, where VEON and JazzWorld executives discussed digital expansion, network quality, investment and the regulatory environment.
VEON said the latest spectrum allocation and 5G licensing process had created room for JazzWorld to accelerate network expansion. Jazz has already crossed 1,000 live 5G sites and plans to increase that figure to more than 2,500 by the end of 2026.
“Pakistan remains a strategic growth market for VEON,” Terzioğlu said, adding that the country’s 5G development would require continued investment and policies supporting a sustainable telecom industry.
JazzWorld, VEON’s Pakistani subsidiary, has more than 71 million subscribers, including over 43.9 million 4G users, making the market one of the group’s major operating platforms.
The company is also expanding beyond traditional connectivity. Its Pakistani digital ecosystem includes financial services, banking, insurance, technology and other digital products, reflecting VEON’s strategy of building broader digital businesses around its telecom customer base.
VEON has been increasing its investment in Pakistan following the 2026 spectrum auction. The company said in its first-quarter results that higher capital expenditure in Pakistan would support the monetisation of its newly acquired spectrum and future revenue growth. Jazz secured 190 MHz for $239.5 million in the March 2026 spectrum auction.
The meeting with the PTA reaffirmed cooperation between the regulator, VEON and JazzWorld on network investment, service quality and the development of Pakistan’s digital economy.
