Key Takeaways
- Prime Minister Shehbaz Sharif met with ADB’s Vice President to discuss the early groundbreaking of the ML-1 railway project.
- The project, a vital national infrastructure priority, aims to modernize freight logistics and strengthen regional trade connectivity.
- The meeting also reviewed the new Country Partnership Strategy 2026–2030, focusing on sustainable and inclusive growth.
Prime Minister Shehbaz Sharif held a meeting with ADB’s South, Central, and West Asia Vice President Yingming Yang in Islamabad, focusing on the early groundbreaking of the Karachi-Peshawar Main Railway Line (ML-1) project.
The project, which is a key component of the China-Pakistan Economic Corridor (CPEC), is set to modernize Pakistan Railways’ existing Main Line-1, stretching 1,733 km from Karachi to Peshawar.
PM Shehbaz emphasized the importance of the project for modernizing freight logistics, enhancing regional trade connectivity, and supporting major industrial initiatives.
During the meeting, the prime minister also highlighted the need for the early groundbreaking of ML-1, stating it is vital for infrastructure development and modernizing connectivity.
The $10 billion ML-1 project is among the public-private partnership initiatives for which Pakistan is seeking ADB’s scaled-up financing. Pakistan has already secured $2 billion in financing from the ADB for the Karachi-Rohri section of the project.
The meeting also reviewed the multi-decade development partnership and charted priority interventions under the new Country Partnership Strategy (CPS) 2026–2030, which aims to support Pakistan’s transition to sustainable and inclusive growth through private sector-led development.
PM Shehbaz lauded ADB’s consistent professionalism and responsiveness in delivering transformative urban infrastructure, transport, and public service projects in Pakistan.
The CPS, approved in March, sets out a roadmap to support Pakistan’s economic turnaround through rigorous fiscal, structural, and governance reforms, which have restored macroeconomic stability and reinforced investor confidence.
