Islamabad, March 10 Pakistan held an auction of 5G spectrum on Tuesday, marking a significant milestone in the country's digital development.
The three bidders, including Zong, Jazz, and Ufone, competed for the 2600 megahertz frequency band, which is essential for 5G service.
During the auction, Zong acquired 110MHz, Ufone 180MHz, and Jazz 190MHz, totaling 480 megahertz, which were sold for USD 507 million at the end of the third round of bidding.
Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarrar, IT Minister Shaza Fatima Khawaja, and senior officials were present at the launch of the bidding process.
Aurangzeb thanked all members of the spectrum committee and credited the IT minister for ensuring the continuity of the IT policy, which led to the spectrum auction despite changes in administration.
"I have always said that digital is not an end in itself; it is a means to an end. Faster, cheaper, and better – that's all that matters," he said.
He expressed his belief that the increased spectrum and improved connectivity would help the country in navigating the current oil crisis.
IT Minister Shaza Fatima Khawaja described the auction as one of the most important days in Pakistan's history, adding that, in addition to the introduction of 5G in Pakistan, the nation would also see an improvement in the quality of 4G connectivity.
She said that the internet is the foundation of every aspect of life, "from personal life to the economy, agriculture, and industry, all the way to national security. A fast, reliable internet that is available to every Pakistani citizen has become a fundamental requirement for us".
Earlier, she told the media during a briefing that efforts had been made to ensure that all three stakeholders benefited from the spectrum auction, adding that mock exercises were conducted with all three participants.