Ufone And Zong Deposit $30m For March 10 5g Auction

Pakistan's 5G spectrum auction is set to take place on March 10, 2026, with significant developments leading up to the event. As of February 24, two major telecom operators, Ufone and Zong, have each deposited the required $15 million in earnest money with the Pakistan Telecommunication Authority (PTA), totaling $30 million. This move is crucial as the PTA has indicated that the auction will be deemed successful if at least 50% of the total 597 MHz spectrum, approximately 300 MHz, is sold. Officials believe that participation from at least three cellular operators will ensure competitive bidding, which is essential for the auction's success. According to Business Recorder, "the government is eyeing proceeds of over $634 million from the sale, depending on the level of competition and final price discovery during the bidding process." The deadline for additional deposits is February 27, and Jazz is expected to participate, further solidifying the competitive landscape.