Pakistan reports economic turnaround following fiscal reforms

Prime Minister Muhammad Shehbaz Sharif stated that Pakistan has achieved an economic turnaround through fiscal, structural, and governance reforms. During a meeting with Asian Development Bank (ADB) Vice President Yingming Yang, the Prime Minister noted that these corrective measures have restored macroeconomic stability and improved investor confidence, leading to stable outlook upgrades from Fitch, Moody’s, and S&P.

The discussions focused on the new Country Partnership Strategy (CPS) 2026–2030 and the modernization of the Main Line-1 (ML-1) railway corridor from Karachi to Peshawar. Upgrading the ML-1 is considered a national priority to improve freight logistics and regional trade connectivity.

Additional areas for potential cooperation include energy and food security, export competitiveness, artificial intelligence, information technology, and support for small and medium-sized enterprises.