Karachi, 23 May 2025 Engro Holdings Limited is delighted to announce that Engro Corporation Limited has secured all approvals for its strategic partnership with Pakistan Mobile Communications Limited (“Jazz”) and its parent company, VEON Group. Through a Scheme of Arrangement, Jazz’s shareholding in Deodar (Private) Limited – which houses its telecom infrastructure assets – will vest with Engro Connect (Private) Limited, a subsidiary of Engro Corporation. In line with previous disclosures, this amalgamation marks a significant private-sector investment in Pakistan, and with all approvals secured, millions of Pakistanis are now poised to bene t from the efficiencies of shared infrastructure.
By accessing Engro’s combined portfolio of over 14,000 towers, all Mobile Network Operators (MNOs) will have equal access to a high-quality, nationwide infrastructure platform. This will enable them to reduce capital and operating expenditures, focus on enhancing service quality, and pass cost efficiencies onto customers – helping millions more Pakistanis come online. Pakistan is standing at the threshold of a digital future – where financial inclusion takes off, start-ups can emerge from any corner, students can learn from global classrooms, and families can access healthcare remotely. This is a moment of shared progress and a reflection of the fact that Pakistan has a powerful growth story to tell.
As demand and technology continue to evolve, Engro’s extensive tower platform is also well-positioned to support future innovations. Around the world, telecom towers are already being used for more than just mobile signals – from powering smart cities to strengthening community infrastructure. Beyond today’s connectivity needs, Engro is preparing for tomorrow’s possibilities, reaffirming our commitment to Pakistan’s economic development and to its enduring promise as a land of opportunity and resilience.
Chairman of Engro, Mr. Hussain Dawood, commented, “This investment further reinforces our commitment to this great nation, where we believe in investing in connectivity which is the foundation of our digital future. It gives our people the empowerment, enablement, and environment to take control of their lives and thrive.”
CEO of Engro Holdings, Mr. Abdul Samad Dawood, remarked, “Prosperity and progress increasingly rely on technology and connectivity – and with this milestone, Engro strengthens its role as an enabler of Pakistan’s progress. This investment reinforces telecom infrastructure as a key vertical for us and we are keen on expanding access, empowering communities, and future-proofing the infrastructure that will drive growth for generations to come. This is a special moment for all of us at Engro, as this is what we have always stood for: ENabling GROwth.”
President and CEO of Engro Corporation, Mr. Ahsan Zafar Syed, shared, “Venturing into this sector in 2018 was a bold leap for Engro into uncharted territory. But this achievement is a testament to what belief, partnership, and perseverance can deliver – made possible by the dedication of our teams, the trust of our partners at VEON Group and Jazz, and the supportive decisions of our regulators. This is everyone’s success.”
Engro is deeply grateful to all its stakeholders – including the Government of Pakistan, Special Investment Facilitation Council (SIFC), Ministry of IT and Telecommunications (MoITT), Pakistan Telecommunication Authority (PTA), Securities and Exchange Commission of Pakistan (SECP), Competition Commission of Pakistan (CCP), VEON Group, and Jazz – for their endorsement of the transaction. We also appreciate our financial and legal partners, as well as our employees, whose tireless efforts made this dream a reality. Collectively, we have contributed to a platform that strengthens Pakistan’s digital backbone and opens doors to a more connected and growth-ready future.
