Addressing the NEC — Pakistan’s highest constitutional forum for economic planning — the prime minister said macroeconomic stability had been achieved despite enormous challenges, but warned that the harder work lay ahead.

“Without federal and provincial integration and support, we would not have reached this point. Now we have to move forward quickly,” he said.

He said Pakistan must “introduce incentives” to accelerate GDP and move beyond macroeconomic stability, adding that “it is essential to introduce incentives that drive export growth, revive manufacturing, and transform the economy.”

PM Shehbaz credited cooperation between the federal and provincial governments for helping Pakistan navigate an energy price spike driven by the global geopolitical crisis and successfully implement the IMF programme.

He said the federal government had spent Rs128 billion from its own resources to manage the petroleum crisis.

He also disclosed that he held detailed talks with IMF Managing Director Kristalina Georgieva on Tuesday. “She was extremely appreciative of Pakistan’s sincere efforts,” he said.

On security, the prime minister said: “Our biggest challenge at present is to strengthen our defences and curb terrorism,” expressing confidence that terrorism would soon be eliminated.

He praised the people of Khyber Pakhtunkhwa and Balochistan, along with law enforcement and security personnel, for their sacrifices.

The NEC meeting, originally scheduled for May 22, was twice postponed before finally convening on Wednesday.

Chief ministers of Sindh, Khyber Pakhtunkhwa and Balochistan attended in person; Punjab Chief Minister Maryam Nawaz was absent due to illness.