PM Shehbaz Advocates for Swift Initiation of ML-1 Railway Project in Meeting with ADB Official

In a significant meeting on Friday, Prime Minister Shehbaz Sharif emphasized the urgency of commencing the groundbreaking of the Karachi-Peshawar Main Railway Line (ML-1) during discussions with Yingming Yang, Vice President of the Asian Development Bank (ADB) for South, Central, and West Asia. The meeting, held in Islamabad, highlighted the modernization of this long-awaited project, deemed a "vital national infrastructure priority" by the Prime Minister's Office.

During their conversation, Shehbaz underscored the essential role that upgrading ML-1 would play in enhancing freight logistics, boosting regional trade connectivity, and supporting major industrial initiatives. The project, which carries a hefty price tag of $10 billion, aims to transform Pakistan's infrastructure and is part of a broader public-private partnership strategy for which increased ADB financing is being sought.

Pakistan has already secured $2 billion in funding from the ADB for the Karachi-Rohri segment of the ML-1 project, which is currently underway. Planning Minister Ahsan Iqbal previously indicated that the groundbreaking for the initial phase is expected early next year, despite questions surrounding financing sources following China’s reduced involvement in the project.

ADB’s Role and Future Cooperation

During the meeting, PM Shehbaz praised the ADB for its professionalism and responsiveness in delivering impactful urban infrastructure and public service projects within Pakistan. The discussions also included a review of the new Country Partnership Strategy (CPS) for the years 2026-2030, which aims to support Pakistan's transition towards sustainable and inclusive growth through private sector-led development.

The ADB's five-year CPS, approved earlier this year, includes a roadmap for approximately $10 billion in financing to facilitate various developmental projects. The Prime Minister expressed confidence in Pakistan’s recent economic reforms, which he believes have bolstered investor confidence and led to improved credit ratings from major agencies, including Fitch and Moody’s.

Commitment to Economic Transformation

Reiterating his government's commitment to long-term economic transformation, PM Shehbaz stated that efforts are underway to eliminate administrative bottlenecks through dedicated task forces. The meeting concluded with a shared commitment to turning the strategic priorities of the CPS into tangible outcomes that will enhance the quality of life for the Pakistani people, as both leaders pledged to work collaboratively across various sectors, including energy security, food security, and advancements in technology.

Source: www.dawn.com