Review of Partnership with Asian Development Bank; Key Projects Including ML-1 Discussed
ISLAMABAD: The government is committed to economic transformation for the long term, the Prime Minister Shehbaz Sharif has said practical steps to remove administrative bottlenecks are being actively taken since the establishment of dedicated execution task forces.
The upgrading of the ML-1 railway line from Karachi to Peshawar in a modern format was given specific attention during the meeting held to discuss the project with the Asian Development Bank (ADB) Vice President for South, Central, and West Asia, Yingming Yang, during breakfast. The Prime Minister highlighted upgrading of ML-1 to be one of the priority projects in the country’s infrastructure.
The strategic project will have a transformative effect on the freight transport network, and help to consolidate the trade connectivity of the region and support key industrial projects,” he said. Underlining the need to start practical ground work on the project immediately to advance the country’s infrastructure and modern communication linkages, Prime Minister Shehbaz Sharif restated the commitment in this regard.During the visit, the Prime Minister highlighted the ADB’s professionalism and responsiveness in the successful completion of significant urban infrastructure, transport and public service projects across Pakistan and commended the bank for its multi-decade partnership with the government.The Prime Minister, who was on his first official visit to Pakistan in this capacity, applauded the bank’s consistent professionalism and responsiveness in successfully completing various critical urban infrastructure, transport and public service projects across the country over the years, and also acknowledged the ADB’s multi-decade partnership with the government.
The meeting discussed the lessons learnt from decades of development cooperation between Pakistan and the ADB, and a comprehensive dialogue on priority projects and sectors in the new Country Partnership Strategy (CPS) 2026-2030.
While presenting the latest economic development of Pakistan, the Prime Minister highlighted that Pakistan has overcome a challenging economic recovery period with the successful implementation of sound fiscal, structural, and administrative reforms.
The measures put in place have been effective and have helped to restore macroeconomic stability and boost investor confidence, which has resulted in positive rating ratings from international credit rating agencies such as Fitch, Moody’s and S&P.
The talks also covered expanding the scope of cooperation among the private sector, providing energy and food security, strengthening export competitiveness and promoting cooperation in the field of Information Technology and Artificial Intelligence.
The meeting ended with a shared commitment to work to make the strategic priorities set out in the Country Partnership Strategy 2026-2030 into tangible, impactful outcomes that contribute to sustainable growth and improved living standards for the people.