Islamabad, 04 Sept 2026

Prime Minister Muhammad Shehbaz Sharif hosted a breakfast meeting in honour of Asian Development Bank (ADB) Vice President for South, Central and West Asia, Yingming Yang, during which the two sides reviewed Pakistan’s longstanding development partnership with the ADB and discussed priority areas under the new Country Partnership Strategy (CPS) 2026–2030.

Welcoming Yang on his first official visit to Pakistan in his present capacity, Prime Minister Shehbaz Sharif appreciated the ADB’s continued professionalism, responsiveness and support for development initiatives in the country. He particularly acknowledged the bank’s contribution to transformative projects in urban infrastructure, transportation and public services.

The prime minister briefed the ADB vice president on Pakistan’s economic reform journey, saying the country had successfully navigated a difficult period through comprehensive fiscal, structural and governance reforms. He noted that these measures had helped restore macroeconomic stability, strengthen investor confidence and contribute to improved outlook assessments by major international credit rating agencies, including Fitch, Moody’s and S&P.

Reaffirming the government’s commitment to sustainable and long-term economic transformation, Prime Minister Shehbaz said administrative bottlenecks were being addressed through dedicated execution task forces aimed at ensuring timely implementation of development initiatives.

A major focus of the meeting was the modernization of the Main Line-1 (ML-1) railway corridor linking Karachi with Peshawar. The prime minister described the project as a vital national infrastructure priority, stressing that its timely upgrading would modernize freight transportation, improve logistics, enhance regional trade connectivity and support major industrial and economic activities.

The discussions also emphasized the importance of moving towards an early groundbreaking of the ML-1 project, which is expected to play a significant role in strengthening Pakistan’s transportation infrastructure and improving connectivity across the country.

The two sides further explored opportunities for expanded cooperation in several strategic sectors, including private-sector development, energy security, food security, export competitiveness, artificial intelligence and information technology.

The meeting concluded with both sides reaffirming their commitment to translating the strategic priorities identified under the CPS 2026–2030 into practical, high-impact initiatives. The partnership is aimed at promoting sustainable economic growth, strengthening development outcomes and improving the quality of life for the people of Pakistan.