PM, ADB VP discuss early groundbreaking

ZULFIQAR AHMAD

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday stressed the need for the early groundbreaking of the Main Line-1 (ML-1) railway project, describing its modernisation as a vital national priority for improving freight logistics, regional trade connectivity and industrial development.

The prime minister made the remarks during a breakfast meeting with Asian Development Bank (ADB) Vice-President for South, Central and West Asia Yingming Yang, who is on his first official visit to Pakistan in his current capacity.

The meeting reviewed Pakistan and the ADB’s multi-decade development partnership and discussed priority interventions under the new Country Partnership Strategy (CPS) 2026-2030.

Sharif highlighted the strategic importance of upgrading the ML-1 railway corridor from Karachi to Peshawar, saying its modernisation would strengthen the country’s transport infrastructure and connectivity while supporting major industrial initiatives.

The discussions also focused on the need to translate the proposed priorities into concrete projects, with early commencement of work on ML-1 identified as a key infrastructure objective.

Welcoming Yang, the prime minister praised the ADB’s professionalism and responsiveness in supporting transformative urban infrastructure, transport and public service projects in Pakistan.

The prime minister said Pakistan had successfully navigated a difficult economic turnaround through fiscal, structural and governance reforms.

According to the prime minister, the corrective measures had restored macroeconomic stability, strengthened investor confidence and contributed to stable outlook improvements from major international credit rating agencies, including Fitch, Moody’s and S&P.

Reaffirming the government’s commitment to long-term economic transformation, he said administrative bottlenecks were being dismantled through dedicated execution task forces to accelerate the implementation of development initiatives.

The meeting also explored opportunities to expand cooperation in several areas, including private-sector development, energy security, food security, export competitiveness, artificial intelligence and information technology.

Both sides reaffirmed their commitment to turning the strategic priorities outlined in the CPS 2026-2030 into high-impact projects aimed at promoting sustainable economic growth and improving living standards for people in Pakistan.