Pakistan, which was the only country in its neighbourhood not to have 3G technology, sold its spectrum to four companies.
No new foreign firm had bid.
Prime Minister Nawaz Sharif said the successful auction of 3G and 4G spectrum has opened up new world of exploration and achievement.
"This, much delayed, initiative has brought Pakistan to the cutting edge of technology, upon which our nation will achieve new frontiers of advancement," said the Prime Minister in a statement issued today.
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The four winners of the 3G auction were Russian-owned Mobilink, Chinese-controlled Zong, Norway's Telenor, and Ufone - a company jointly owned by the Pakistan government and the United Arab Emirates' Etisalat.
As for the 4G spectrum, the sole winner was Zong, according to the Pakistan Telecommunication Authority (PTA).
Warid Telecom Pakistan, another company operating in Pakistan, did not make any bids.
The introduction of 3G and 4G spectrum in the telecom sector is expected to revolutionise the way subscribers stay connected.
For consumers, the auction will not immediately translate into the advent of 3G connectivity on their mobile phones.
In fact, the time frame agreed upon between the PTA and mobile operators envisions 3G roll out within six months of the auction, Dawn News reported.
In the first phase, services will be available in Islamabad, Karachi, Lahore, Peshawar and Quetta and later on in other cities from each of the four provinces.
In the third phase, which will begin about four years from now, 90 per cent of all 'tehsil' headquarters will have access to 3G services.