Pakistan is seeking financing from the Asian Development Bank for the ML-1 railway project after delays in Chinese funding, aiming to modernize its major Karachi–Peshawar rail corridor to spur economic growth.
WEBDESK – UzGul – MEDIABITES NEWS
ISLAMABAD – Infrastructure Shift
Pakistan is actively exploring new financing options for its long-delayed Main Line-1 (ML-1) railway upgrade project after progress with Chinese funding slowed. Officials are now in discussions with the Asian Development Bank to support the multi-billion-dollar modernization plan.
The ML-1 project, part of the country’s broader transport overhaul, aims to upgrade the 1,700-kilometre Karachi–Peshawar railway corridor. It is considered a backbone initiative for improving freight efficiency, passenger safety, and overall economic connectivity.
China Funding Setback
The project was initially tied to cooperation under the China-Pakistan Economic Corridor framework involving China. However, delays and financial restructuring concerns have slowed final agreement progress, prompting Islamabad to diversify its financing strategy.
Officials suggest that shifting global economic conditions and cost reassessments have contributed to the pause in Chinese-backed momentum, though cooperation is still not officially ruled out.
ADB as Alternative Partner
The government is now engaging ADB for possible concessional loans and technical assistance. ADB has previously supported Pakistan’s transport and energy sectors, making it a viable alternative for large-scale infrastructure funding.
If finalized, the funding could accelerate procurement, engineering design, and phased construction work on the ML-1 railway upgrade.
Economic Impact
The ML-1 project is expected to significantly reduce travel time, improve logistics efficiency, and strengthen regional trade links once completed. It is also seen as a key driver for industrial growth along the railway corridor.
