Pakistan's macroeconomic stability restored, says PM Shehbaz

Shehbaz Sharif tells ADB VP country successfully navigated difficult economic turnaround Reaffirms Pakistan's strong support for multilateralism, UN role in global affairs.. ISLAMABAD - Prime Minister 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. Security forces kill 48 terrorists in Balochistan operations: ISPR 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. Eight-member AJK cabinet takes oath in Muzaffarabad 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, energy security, food security, enhancing support in export competitiveness, artificial intelligence and information technology. Another bill shock as Nepra hikes electricity tariff by Rs2.58 per unit 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. Also, PM Shehbaz Sharif on Friday emphasised that Pakistan would continue to render strong and abiding support for multilateralism and the role of the United Nations in global affairs. He was talking to Ambassador Olara Otunnu, candidate for the position of Secretary-General of the United Nations, who called on him at the Prime Minister House. Maj Gen Faisal Naseer appointed as NACTA National Coordinator Ambassador Olara Otunnu was accompanied by Ruhakana Rugunda, Special Envoy of the President of Uganda and Former Prime Minister of Uganda. Deputy Prime Minister and Foreign Minister, Senator Mohammad Ishaq Dar, SAPM Tariq Fatemi, and Foreign Secretary Amb. Amna Baloch were also present. During the meeting, the prime minister reiterated Pakistan's commitment to the principles and purposes of the United Nations Charter and underscored the need for ensuring respect for international law and international treaties. He expressed the hope that the next Secretary-General of the United Nations would continue to focus on the three pillars of the United Nations – peace and security, development, and human rights – in an interconnected and balanced manner. Ambassador Otunnu expressed his profound gratitude for Pakistan's enduring contributions to multilateralism as well as towards all three pillars of the United Nations, and appreciated Pakistan's leadership for playing a key role in the ongoing efforts for international peace and security. Tags: pakistanmacroeconomicstabilityrestored