Ahsan Seeks Fast-track For ML-1; ADB Assures Full Support
Published September 30, 2026 | 06:50 PM
(ULAANBAATAR (Mongolia) , (APP - UrduPoint / Pakistan Point News - 30th Sep, 2026))
Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday urged the Asian Development Bank (ADB) to fast-track procedural formalities for the ML-1 railway modernization project, with ADB President Masato Kanda assuring full support to move the flagship project forward.
He also called for establishing a dedicated ADB financing window for climate adaptation and resilience in highly vulnerable countries beyond existing country allocations.
Key Points:
- Ahsan Iqbal highlighted Pakistan’s experience of devastating floods, emphasizing the need for financial support for climate-vulnerable countries with minimal carbon emissions contributions.
- He proposed leveraging artificial intelligence and modern data systems within a new ADB financing window to address vulnerabilities and improve financing efficiency.
- The minister suggested a competitive regional financing window for CAREC (Central Asia Regional Economic Cooperation) countries, enabling joint project development and financing.
- Pakistan’s critical minerals potential was discussed, with the minister highlighting progress in promoting value addition and welcoming joint ventures in copper, antimony, chromite, and rare earths.
- A CAREC Critical Minerals Investment and Value-Chain Platform was proposed, inviting CAREC businesses to participate in the Pakistan Minerals Investment Forum in Islamabad on November 12–13, 2026.
- Ahsan Iqbal emphasized the strategic importance of the ML-1 railway modernization project and requested early groundbreaking, receiving support from ADB President Kanda.
Other Discussed Topics:
- Joint studies on an export accelerator program to increase Pakistan’s exports to $100 billion by 2035.
- Better storage and utilization of floodwater.
- Strengthening regional connectivity through integrated rail and road networks, linking Turkmenistan, Afghanistan, and Pakistan for greater access to Gwadar Port.