ISLAMABAD: Asian Development Bank Vice President for South, Central, and West Asia Yingming Yang met with Pakistan's Prime Minister Shehbaz Sharif on Friday to discuss the bank's 2026-2030 partnership strategy and modernization of the country's main railway corridor, the Prime Minister's Office reported.
In an official statement, the PMO stated that PM Sharif praised the ADB's work on urban infrastructure, transport, and public service projects in Pakistan. He said the country has restored macroeconomic stability through structural reforms and earned stable outlooks from international credit rating agencies including Fitch, Moody's, and S&P.
The ADB is a multilateral development bank with 68 member countries. It has worked with Pakistan for decades on infrastructure and economic projects.
The centerpiece of the discussion was modernizing the Main Line-1 (ML-1) railway corridor stretching 1,881 kilometers from Karachi to Peshawar. PM Sharif said upgrading the corridor is critical for improving freight logistics, strengthening regional trade connections, and supporting Pakistan's industrial sector.
Both sides discussed accelerating construction timelines for the project.
The prime minister stated that Pakistan government “is committed to removing administrative obstacles through dedicated task forces,” as part of broader economic transformation efforts.
The meeting also covered cooperation in energy security, food security, private sector development, export competitiveness, artificial intelligence, and information technology.
Both sides agreed to turn the partnership strategy into concrete measures aimed at promoting sustainable economic growth and improving living standards in Pakistan, according to the Prime Minister's Office.