Islamabad: The auction of the 5G spectrum in Islamabad is underway, marking a significant step towards enhancing internet services across Pakistan. The first round of the auction has concluded, with government officials expressing optimism about its potential economic benefits.

According to Radio Pakistan, Finance Minister Muhammad Aurangzeb described the auction as a crucial milestone for the information technology sector. He expressed confidence that the initiative would positively impact the national economy, particularly as Pakistan transitions to a new economy characterized by technologies like artificial intelligence, blockchain, and Web 3.0. Aurangzeb emphasized the role of spectrum availability in supporting these technological advancements.

Aurangzeb highlighted the importance of enhancing the digital infrastructure, which he believes will strengthen one of the country’s most promising areas of growth. He noted that the development of IT and IT-enabled services could boost exports and create employment opportunities. The Finance Minister stressed that the government’s role is to create an enabling ecosystem, allowing the private sector to spearhead economic growth.

Minister for Information Technology Shaza Fatima, speaking at the same event, stated that this auction represents the largest of its kind in Pakistan’s history. She expressed confidence that it would double the availability of spectrum and hailed the occasion as one of the most important days in the nation’s history. Fatima noted that Pakistan is poised to join the ranks of countries that have introduced 5G services.

Fatima also projected improvements in 4G services within the next four to five months and anticipated that 5G services would become available in five major cities within five to six months. She expressed confidence in the success of the auction, citing favorable conditions.

The event was also attended by Minister for Information and Broadcasting Attaullah Tarar.