Pakistan sells Multan Sultans for record $8.7 million ahead of PSL 11th edition

Multan Sultans' players celebrate after the dismissal of Peshawar Zalmi's Saim Ayub (not pictured) during the Pakistan Super League (PSL) Qualifier Twenty20 cricket match between Multan Sultans and Peshawar Zalmi at the National Stadium in Karachi on March 14, 2024. (AFP/ file)
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Updated 09 February 2026
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Pakistan sells Multan Sultans for record $8.7 million ahead of PSL 11th edition

  • New owner Walee Technologies plans to change franchise’s name to Rawalpindi
  • PCB chairman says ‘Multan Sultans still dear to my heart, will think of something’

ISLAMABAD: The Pakistan Cricket Board (PCB) on Monday sold Pakistan Super League (PSL) franchise Multan Sultans for a record Rs2.45 billion ($8.7 million), ahead of the 11th edition of the Twenty20 tournament.

The 11th edition of the tournament will kick off on March 26, the Pakistan Cricket Board (PCB) announced on Friday, which will feature eight franchises competing across multiple venues.

The previous owner of Multan Sultans, Ali Tareen, announced in Dec. he was walking away from the ownership of the franchise. The PCB said earlier said it will run the Multan Sultans team for the 11th edition before looking for a potential buyer.

Walee Technologies, which specializes in media, finance and technology, bought the rights for the franchise for $8.7 million at an auction held in Lahore, with local media reporting the new owner planned to change its name to Rawalpindi.

“I cannot ask the person paying Rs2.45bn to keep the name Multan Sultans,” Naqvi told reporters after the auction. “Multan Sultans is still dear to my heart, but we will think of something.”

Walee Technologies was among five bidders that participated in the auction, which came a month after Hyderabad and Sialkot joined the PSL 11th edition.

FKS, an aviation and health care conglomerate based in the US who also run the Chicago Kingsmen team, bought the Hyderabad franchise for a whopping Rs1.75 billion ($6.2 million). The other winner was OZ

Developers, a real estate consortium, which bought the Sialkot franchise for Rs1.85 billion ($6.55 million) at the auction.

The PSL has become a key pillar of the country’s cricket economy, providing financial stability to the PCB and serving as a talent pipeline for the national team.

The league, which features a mix of local and international players, already had six city-based teams, including Karachi Kings, Multan Sultans, Lahore Qalandars, Islamabad United, Peshawar Zalmi and Quetta Gladiators.


Pakistan sells 480MHz for $507 million in 5G spectrum auction

Updated 10 March 2026
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Pakistan sells 480MHz for $507 million in 5G spectrum auction

  • Mobile network operator Jazz buys 190 MHz, Ufone 180MHz and Zong 110MHz, says telecom authority chairman
  • Most mobile networks in Pakistan currently operate on fourth-generation (4G) infrastructure, while 5G rollout has faced delays

ISLAMABAD: Pakistan has sold 480 megahertz (MHz) of fifth-generation (5G) telecom spectrum for $507 million, the Pakistan Telecommunication Authority (PTA) confirmed after a live auction on Tuesday, marking a key step toward introducing faster mobile broadband.

The live auction was organized by the PTA to determine which telecom operators would acquire the frequencies needed to deploy 5G mobile networks across Pakistan.

Pakistan, a country of over 240 million people, is one of the world’s largest telecom markets by population, with over 190 million mobile phone users. However, most networks currently operate on fourth-generation (4G) infrastructure, and the rollout of 5G has faced delays in recent years due to regulatory, economic and spectrum-allocation challenges.

“In total out of 595 MHz, 480 MHz spectrum has been sold today,” PTA Chairman Hafeez-ur-Rehman said in a speech aired on state media. “This is a very big achievement and a big victory for Pakistan, in my opinion.”

Chinese mobile operator Zong ‌bought 110 MHz of the 5G spectrum, while Ufone bought ⁠180 ⁠MHz and Veon-backed firm Jazz bought 190 MHz, Rehman announced.

“And the price in total for this is $507 million,” the PTA chairman said. 

According to officials, 5G services are expected to be rolled out first in Islamabad, Lahore, Karachi, Peshawar and Quetta cities, before expanding nationwide as network infrastructure develops.

Information Technology Minister Shaza Fatima Khawaja has previously said the government is also encouraging wider adoption of 5G-compatible devices, noting that about 95 percent of mobile phones used in

Pakistan are locally manufactured, while premium models such as iPhones and Google Pixel devices are imported.

Officials say Pakistan currently uses around 274 megahertz of spectrum, much of it allocated decades ago, while the new auction will make 600 megahertz of spectrum available for next-generation services.

Under the government’s rollout plan, telecom operators are expected to add roughly 3,000 new network sites annually to support the expansion of 5G services.

PTA officials say Pakistan currently offers some of the world’s cheapest mobile data services and have pledged that consumer protection will remain a priority as the country moves toward next-generation connectivity.