Pakistan, ADB chart priorities for CPS 2026-2030

September 04, 2026 (MLN): Pakistan and the Asian Development Bank (ADB) agreed to chart out priority interventions under the new Country Partnership Strategy (CPS) 2026-2030, reviewing the two sides' multi-decade development partnership.

This took place during a breakfast meeting hosted in honour of ADB Vice President for South, Central, and West Asia, Yingming Yang.

Prime Minister Muhammad Shehbaz Sharif hosted the meeting and, welcoming Yang on his first official visit to Pakistan in his current capacity, lauded ADB's consistent professionalism and responsiveness in delivering transformative urban infrastructure, transport, and public service projects in the country, said a press release issued.

The Prime Minister said Pakistan has successfully navigated a difficult economic turnaround through rigorous fiscal, structural, and governance reforms, which he said 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.

Reaffirming the government's commitment to long-term economic transformation, he stressed that administrative bottlenecks are being actively dismantled through dedicated execution task forces.

A central focus of the discussions was the modernization of the Main Line-1 (ML-1) railway corridor from Karachi to Peshawar, with the Prime Minister underscoring that upgrading ML-1 is essential for modernizing freight logistics, strengthening regional trade connectivity, and supporting major industrial initiatives.

The meeting also discussed the need for an early groundbreaking of the ML-1 project, deemed vital for infrastructure development and improved connectivity.

The two sides explored avenues for expanding cooperation in support of the private sector, energy security, food security, export competitiveness, and 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 aimed at driving sustainable growth and visibly enhancing the standard of living for the people of Pakistan.

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