Global digital operator VEON has increased its planned investment in Pakistan over the next three years to $1.5 billion from the previously announced $1 billion, Finance Minister Muhammad Aurangzeb said Tuesday.

The additional $500 million takes VEON’s planned investment commitment significantly higher as Pakistan works to attract more foreign capital and expand private-sector investment.

Aurangzeb announced the revised figure while speaking virtually at the SDGs Investment Fair 2026, organized by UNDP Pakistan in Karachi.

VEON had earlier announced plans to invest $1 billion in Pakistan to expand connectivity, upgrade digital infrastructure and support digital innovation.

The finance minister said the higher commitment shows continued interest from international investors in Pakistan.

Aurangzeb also said three Turkish companies have shown interest in the first distribution company being offered under the government’s privatization program.

He said 11 companies completed initial public offerings (IPOs) on the Pakistan Stock Exchange during the previous fiscal year, while five IPOs were completed in the last quarter.

Aurangzeb added that Khaadi is preparing for an IPO, while around 22 real estate investment trusts are expected to list on the stock exchange over the next two years.

He said companies raising funds through the stock market generally use the capital to expand existing operations, increase investment or establish new production units.