The study aimed at the survey of coverage, Quality, New Trends and Instructional Practices of Open and Virtual universities in Pakistan. This study also focused upon exploring the actual impact of Open and Virtual universities in expanding access to higher education in Pakistan and identifying innovations and good practices in ICT-assisted learning in Open and Virtual universities in Pakistan. Procedure adopted for this study contained desk review, observation of PVCs, study centers, getting the opinion of students, teachers and administrators through questionnaires, interview schedule and FGDs. The study concluded that AIOU had provided wider opportunities of access to higher education in almost all disciplines of social, natural & management sciences because of its flexibility, tutorial services & regional network. On contrary Virtual University has progressed at comparatively slower pace because of being only ICT dependent. However both the universities have potential in expanding access to higher education in Pakistan at least @ 10-25% per year. The study further revealed that both the universities have jumped into the innovation and good practices of online education, video conferencing, e-assessment & e-learning in providing education at bachelor & master level. Both the universities have tremendous potential of entering into other innovations and good practices in ICT-assisted learning to compete the contemporary regime of open and virtual learning.