DNA
ISLAMABAD, Sep 4: Prime Minister Muhammad Shehbaz Sharif on Friday said that Pakistan has successfully navigated a difficult economic turnaround through rigorous fiscal, structural, and governance reforms.
The prime minister, who hosted a breakfast meeting for Asian Development Bank (ADB) Vice President for South, Central, and West Asia Yingming Yang here, said that the corrective actions by the government have restored macroeconomic stability, reinforced investor confidence, and earned stable outlook upgrades from major international credit rating agencies including Fitch, Moody’s, and S&P.
The meeting reviewed the multi-decade development partnership and priority interventions under the new Country Partnership Strategy (CPS) 2026–2030.
Welcoming Yang on his first official visit to Pakistan in this capacity, Prime Minister Shehbaz lauded ADB’s consistent professionalism and responsiveness in delivering transformative urban infrastructure, transport, and public service projects in Pakistan.
Reaffirming the government’s steadfast commitment to long-term economic transformation, he stressed that the administrative bottlenecks are being actively dismantled through dedicated execution task forces.
A central focus of the discussions was the modernisation of the Main Line-1 (ML-1) railway corridor from Karachi to Peshawar—a vital national infrastructure priority.
The prime minister underscored that upgrading ML-1 is essential for modernising freight logistics, strengthening regional trade connectivity, and supporting major industrial initiatives.
The meeting discussed the need for early groundbreaking of ML1, being vital for infrastructure development and modernising connectivity.
Expanding cooperation in various sectors, the meeting explored collaborative avenues in support for private sector and SMEs, energy security, food security, enhancing support in export competitiveness, artificial intelligence and information technology.
The meeting concluded with a mutual pledge to translate the strategic priorities of the CPS 2026–2030 into concrete, high-impact results that drive sustainable growth and visibly enhance the standard of living for the people of Pakistan.
