Pakistan and the Asian Development Bank (ADB) have agreed to identify and develop priority interventions under the new Country Partnership Strategy (CPS) 2026-2030, reaffirming the long-standing development partnership between the two sides. The understanding was reached during a breakfast meeting hosted in honour of ADB Vice President for South, Central, and West Asia Yingming Yang during his first official visit to Pakistan in his current capacity. Prime Minister Muhammad Shehbaz Sharif hosted the meeting and appreciated ADB’s consistent professionalism and responsiveness in supporting major development initiatives across the country. He particularly acknowledged the bank’s contribution to transformative urban infrastructure, transport, and public service projects, according to a press release issued following the meeting.
During the meeting, Prime Minister Shehbaz Sharif highlighted Pakistan’s progress in managing a difficult economic turnaround through a series of fiscal, structural, and governance reforms. He said these measures have helped restore macroeconomic stability, strengthen investor confidence, and secure stable outlook upgrades from major international credit rating agencies, including Fitch, Moody’s, and S&P. The Prime Minister reaffirmed the government’s commitment to pursuing long-term economic transformation and said administrative bottlenecks are being addressed through dedicated execution task forces. The government’s focus, according to the Prime Minister, remains on ensuring that reform measures translate into practical improvements and support a more sustainable economic trajectory.
A major area of discussion was the modernization of the Main Line-1 (ML-1) railway corridor, which connects Karachi with Peshawar. Prime Minister Shehbaz Sharif emphasized that upgrading the ML-1 railway corridor is important for modernizing freight logistics, improving regional trade connectivity, and supporting major industrial initiatives. The project was discussed as a key infrastructure priority, with both sides also considering the need for an early groundbreaking. Modernization of the railway corridor is expected to play an important role in strengthening transport connectivity and improving the movement of goods across major economic centres, making the project a significant component of the infrastructure priorities being considered under the new partnership strategy.
Pakistan and ADB also explored opportunities to expand cooperation in several areas considered important for the country’s economic and development agenda. These areas include private sector development, energy security, food security, export competitiveness, Artificial Intelligence, and Information Technology. The discussions indicate a broad approach toward future cooperation, covering infrastructure as well as sectors that can contribute to economic activity, exports, technology adoption, and private sector participation. The inclusion of Artificial Intelligence and Information Technology among the areas discussed also reflects the growing importance of technology-related sectors within Pakistan’s broader development priorities.
The discussions took place as Pakistan and ADB reviewed their multi-decade development partnership and worked toward defining the areas that will receive greater attention under the Country Partnership Strategy 2026-2030. The strategy is intended to establish priority interventions that can produce measurable development outcomes and support Pakistan’s long-term economic objectives. Infrastructure, connectivity, private sector activity, energy and food security, exports, and technology were among the areas identified for further cooperation, while the government highlighted its ongoing efforts to remove administrative obstacles and maintain the momentum of economic reforms.
The meeting concluded with Pakistan and ADB reaffirming their commitment to turning the strategic priorities identified under the CPS 2026-2030 into concrete and high-impact results. Both sides emphasized the importance of translating the partnership framework into practical initiatives capable of supporting sustainable economic growth and improving living standards for the people of Pakistan. The discussions around ML-1, private sector development, energy and food security, export competitiveness, Artificial Intelligence, and Information Technology are expected to form part of the broader priorities as Pakistan and ADB move forward with the new five-year partnership strategy.
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