ADB Vice President Yingming Yang meets Prime Minister Shehbaz Sharif, ML-1 project reviewed

ISLAMABAD, September 4: 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, with discussions focusing on Pakistan’s long-standing development partnership with the ADB and priority areas under the Country Partnership Strategy (CPS) 2026–2030.

Welcoming Yingming Yang on his first official visit to Pakistan in his capacity as ADB Vice President, the prime minister appreciated the bank’s continued support for transformative urban infrastructure, transport and public service projects in the country.

Prime Minister Shehbaz Sharif said Pakistan had successfully navigated a difficult economic turnaround through fiscal, structural and governance reforms. He noted that the reforms had helped restore macroeconomic stability, strengthen investor confidence and improve the country’s outlook among major international credit rating agencies, including Fitch, Moody’s and S&P.

Reaffirming the government’s commitment to long-term economic transformation, the prime minister said administrative bottlenecks were being addressed through dedicated execution task forces.

A major focus of the meeting was the modernization of the Main Line-1 (ML-1) railway corridor from Karachi to Peshawar. Prime Minister Shehbaz Sharif emphasized that upgrading ML-1 was critical for modernizing freight logistics, strengthening regional trade connectivity and supporting major industrial initiatives.

The meeting also stressed the need for early groundbreaking of the ML-1 project to accelerate infrastructure development and modernize connectivity across the country.

The two sides also explored avenues for enhanced cooperation in support of the private sector, energy and food security, export competitiveness, artificial intelligence and information technology.

The meeting concluded with a mutual commitment to translate the priorities of the CPS 2026–2030 into concrete and high-impact initiatives aimed at promoting sustainable economic growth and improving the standard of living of the people of Pakistan.