- Advertisement -
ISLAMABAD, May 23 (APP):Engro Corporation Limited has successfully secured all regulatory approvals for its landmark strategic partnership with Pakistan Mobile Communications Limited (Jazz) and its parent company, VEON Group, marking a significant milestone in the expansion of Pakistan’s telecom infrastructure.
Under a formal Scheme of Arrangement, Jazz’s shareholding in Deodar (Private) Limited – which owns the company’s telecom tower infrastructure – will be transferred to Engro Connect (Private) Limited, a wholly owned subsidiary of Engro Corporation.
The completion of this process paves the way for a major private-sector investment in the country’s digital infrastructure.
With this partnership, Engro will manage a combined portfolio of over 14,000 telecom towers, creating a neutral and shared platform accessible to all Mobile Network Operators (MNOs).
This move is expected to drive down capital and operating costs for telecom companies while improving service delivery and expanding connectivity for millions across Pakistan.
“This investment further reinforces our commitment to this great nation. We believe in connectivity as the foundation of our digital future,” said Hussain Dawood, Chairman of Engro, in a statement. “It empowers our people to take control of their lives and thrive.”
CEO of Engro Holdings, Abdul Samad Dawood, emphasized the importance of technology and connectivity in modern development. “With this milestone, Engro strengthens its role as an enabler of Pakistan’s progress. We are committed to expanding access and building future-proof infrastructure to support generations to come.”
President and CEO of Engro Corporation, Ahsan Zafar Syed, reflected on the company’s journey in telecom infrastructure since 2018, calling the achievement a result of “belief, partnership, and perseverance,” and commending the dedication of teams and the support from partners and regulators.
Engro extended its gratitude to key stakeholders including the Government of Pakistan, the Special Investment Facilitation Council (SIFC), Ministry of IT and Telecommunications, Pakistan Telecommunication Authority (PTA), Securities and Exchange Commission of Pakistan (SECP), and Competition Commission of Pakistan (CCP), along with VEON Group, Jazz, and financial and legal partners.
The deal marks a transformative step for Pakistan’s digital landscape, enabling innovations such as smart cities, remote healthcare, digital learning, and greater financial inclusion — reinforcing the country’s potential as a digitally empowered and connected nation.