Key Points
- PM says Pakistan must introduce incentives to accelerate GDP growth and economic transformation
- Government signals shift from stabilisation to exports, manufacturing revival and employment generation
- Defence strengthening and counterterrorism described as key national challenges alongside economic priorities
ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Wednesday said the country must now move decisively from macroeconomic stabilisation toward a growth-driven economic model focused on exports, industrial production and employment creation.
Chairing the National Economic Council (NEC), the country’s top constitutional forum for federal-provincial economic coordination, the prime minister said Pakistan had achieved relative economic stability but needed urgent policy measures to accelerate growth.
“Pakistan has achieved macroeconomic stability, but there is a need to gain growth momentum, improve employment opportunities and production, increase exports, and accelerate economic activity,” he said.
The remarks come as the government prepares its next fiscal framework following a period of economic pressure marked by inflation, currency volatility and external financing constraints.
Officials say recent reforms under an International Monetary Fund (IMF) programme have helped stabilise key macroeconomic indicators.
Sharif said Pakistan had complied with IMF conditions despite a challenging global environment, including rising energy prices driven by geopolitical tensions.
He stressed that coordination between federal and provincial governments remained essential for sustaining economic stability and moving toward expansion.
“Without federal and provincial integration and support, we would not have reached this point. Now we have to move forward quickly,” he said.
The prime minister said future economic policy must be designed around incentives that encourage investment, expand manufacturing capacity and strengthen exports.
“To achieve growth and accelerate the country’s GDP, it is essential to introduce incentives that drive export growth, revive manufacturing, and transform the economy,” he said.
Gross Domestic Product (GDP) refers to the total value of goods and services produced within a country and is a key measure of economic performance.
Sharif also said he held detailed discussions on Tuesday with International Monetary Fund Managing Director Kristalina Georgieva, adding that she had appreciated Pakistan’s efforts toward economic stabilisation and implementation of reforms.
Beyond economic issues, the prime minister identified security challenges as a major national priority.
“Our biggest challenge at present is to strengthen our defences and curb terrorism,” he said, expressing confidence that militancy would eventually be eliminated.
The NEC meeting was attended by the chief ministers of all provinces and focused on coordination between federal and provincial governments ahead of the upcoming budget cycle and medium-term economic planning.
Keywords: Pakistan economy, Shehbaz Sharif, National Economic Council, GDP growth, exports, IMF programme, industrial policy
