Pakistan's government has concluded the country's 5G spectrum auction.

The auction, which was conducted over three rounds yesterday (March 10), raised $507 million for the government.

In total, 480 MHz of spectrum was sold across multiple bands, with Pakistan's main telcos, Jazz, Ufone, and Zong, snapping up the assets.

Pakistan Telecommunication Authority (PTA) put a total of 597 MHz of spectrum on the table, with just over 100 MHz of this going unsold.

Spectrum across six frequency bands (700, 1,800, 2,100, 2,300, 2,600, and 3,500 MHz) was up for grabs.

Veon subsidiary Jazz secured 190 MHz, while Ufone acquired 180 MHz, and China Mobile-backed Zong snapped up 110 MHz across different bands.

"The auction is expected to accelerate Pakistan’s digital economy, improve mobile broadband quality, and pave the way for next-generation 5G services nationwide," said Kashif Ellahi Bhatti, director of communications, PTA.

The auction increased the spectrum available to mobile operators from 274 MHz to 754 MHz.

Jazz, which secured the most spectrum during the auction, picked up 50 MHz in the 3,500 MHz band, 70 MHz in the 2,600 MHz band, 50 MHz in the 2,300 MHz band, and 20 MHz in the 700 MHz band. The carrier is the biggest in Pakistan with more than 74 million customers.

Meanwhile, the country's second-largest telco, Ufone, grabbed 120 MHz in the 3,500 MHz band and 60 MHz in the 2,600 MHz band. Zong also focused on mid-band spectrum, securing 50 MHz in the 3,500 MHz band and 60 MHz in the 2,600 MHz band.

This week's auction paves the way for Pakistan to enhance existing 4G services and launch 5G networks across the country, which has a population of more than 250 million people.

Pakistan's government had previously set a target to launch 5G services last summer, though this did not come to fruition.