The government is reviewing the proposed 460-kilometre Rohri-Multan section of Pakistan’s delayed ML-1 railway project, estimated to cost over Rs450 billion. A high-level committee led by Planning Minister Ahsan Iqbal withheld approval after noting that locomotives, coaches and operating expenses were excluded from the estimate. An independent third-party cost review has been ordered. Financing options under consideration include the PSDP, foreign funding, public-private partnerships, commercial bank loans and domestic capital markets.

Moody’s Ratings upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings from Caa1 to B3, citing stronger foreign exchange reserves, improved governance, lower domestic borrowing costs and sustained macroeconomic stabilization. The agency maintained a stable outlook, expecting governance reforms to help preserve gains in Pakistan’s external position and strengthen fiscal indicators.

A 150-acre automotive processing zone is planned to be established at Port Qasim, Karachi. The proposed AIRE Park will include 264 units across five specialised segments, including refurbishment workshops, vehicle displays, machinery yards and spare-parts outlets. Direct port access will be provided to reduce inland logistics requirements. Annual exports of $500 million and a net foreign exchange surplus of nearly $200 million are projected. Regional vehicle trade with the Gulf and East Africa could also be facilitated.