Ahsan Iqbal Seeks Fast-Track ML-1 Modernisation As ADB Assures Full Support In Mongolia.
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✧ GENERATE BRIEFING
Planning Minister Ahsan Iqbal met ADB President Masato Kanda in Mongolia, urging accelerated execution of the ML-1 railway project. Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal met with Asian Development Bank (ADB) President Masato Kanda on the sidelines of the 25th CAREC Ministerial Conference in Ulaanbaatar, Mongolia. The discussions centered on fast-tracking the multi-billion-dollar Main Line-1 (ML-1) railway modernisation project, which Kanda reaffirmed as a flagship priority for the bank. During the high-level bilateral, Pakistan pitched several strategic regional initiatives, including a dedicated ADB financing window for climate adaptation leveraging artificial intelligence, a CAREC Critical Minerals Investment Platform, and an export accelerator program to target $ 100 billion in exports by 2035. ADB leadership underscored that sustained economic reforms and policy continuity remain vital for Pakistan’s growth, while pledging full cooperation as Pakistan prepares to assume the CAREC Chairmanship and host the next ministerial conference.
The Asian Development Bank (ADB) has reaffirmed its support for Pakistan’s Main Line-1 (ML-1) railway modernisation project, with ADB President Masato Kanda assuring Planning Minister Ahsan Iqbal that the bank would provide full support to move the project forward.
The assurance came during a meeting between Ahsan Iqbal and Kanda on the sidelines of the 25th CAREC Ministerial Conference in Ulaanbaatar, Mongolia, according to Pakistan’s Press Information Department.
Advancing ML-1 and Climate Resilience Frameworks
Ahsan Iqbal conveyed Prime Minister Shehbaz Sharif’s message to expedite remaining procedural formalities so that the groundbreaking ceremony for ML-1 can take place at the earliest. Kanda described ML-1 as a critical flagship undertaking for the ADB, pledging robust institutional backing.
Expanding the dialogue beyond traditional transit, the minister proposed establishing a dedicated ADB financing window focused on climate adaptation and resilience for high-vulnerability nations. He suggested integrating artificial intelligence and advanced data systems into the mechanism to precisely map vulnerabilities and optimize the distribution of climate funds.
Critical Minerals, Regional Trade, and Export Goals
The meeting also addressed emerging economic sectors and regional connectivity:
- Critical Minerals Platform: Iqbal highlighted Pakistan’s rich reserves of copper, antimony, chromite, and rare earths, proposing a CAREC Critical Minerals Investment and Value-Chain Platform while inviting stakeholders to the upcoming Pakistan Minerals Investment Forum on November 12–13, 2026.
- Export Accelerator Initiative: Pakistan and the ADB agreed to explore feasibility studies for a specialized export accelerator program to bridge structural gaps and support the national objective of reaching $100 billion in exports by 2035.
- Corridor Integration: Discussions touched upon expanding transport links—including transit routes connecting Turkmenistan, Afghanistan, and Pakistan—to optimize regional access to Gwadar Port.
Kanda emphasized that policy stability, structural reforms, and consistency are essential to anchoring Pakistan’s long-term economic development. With Pakistan slated to assume the CAREC chairmanship next year, the ADB president confirmed full technical and administrative assistance for the upcoming transition and conference hosting duties.
