ISLAMABAD: Prime Minister Shehbaz Sharif on Friday held discussions with Asian Development Bank (ADB) Vice President for South, Central and West Asia Yingming Yang on the early groundbreaking of the Karachi-Peshawar Main Line-1 (ML-1) railway project, as Pakistan and the multilateral lender reviewed priorities under their new Country Partnership Strategy (CPS) 2026–2030.
Prime Minister Muhammad Shehbaz Sharif hosted a breakfast meeting in honour of Yang during his first official visit to Pakistan since assuming his current position. The meeting focused on the decades-long development partnership between Pakistan and the ADB and explored priority areas for cooperation under the new five-year strategy.
Welcoming the ADB vice president, the prime minister praised the bank's continued support for Pakistan, particularly its role in financing and delivering infrastructure, transport, urban development and public service projects.
Shehbaz Sharif said that Pakistan had successfully navigated a difficult phase of economic adjustment through fiscal, structural and governance reforms. He maintained that these measures had helped to restore macroeconomic stability, strengthen investor confidence and improve the country's standing with international credit rating agencies. He further stressed the need for the early groundbreaking of the ML-1 project, describing its modernization as essential for improving freight logistics, strengthening regional trade connectivity and supporting industrial development.
The proposed upgrading of ML-1 has long been regarded as a strategic infrastructure priority, given the railway line's role in connecting the country's ports, industrial zones and major population centres. The two sides also discussed expanding cooperation beyond transport infrastructure. Areas identified for greater collaboration included private-sector development, energy security, food security, export competitiveness, artificial intelligence and information technology.
The meeting concluded with both sides reaffirming their commitment to turning the strategic priorities identified under the CPS 2026–2030 into concrete, high-impact initiatives aimed at promoting sustainable economic growth and improving living standards for people across Pakistan.