"It's like a surgery when you conduct surgery for a while, the patient suffers but then he improves," he explained after saying that "reforms are painful."
Before taking the stage, Khan met with IMF chief Christine Lagarde.
Pakistan has been seeking an 8 billion US dollar bailout package from the IMF.
Lagarde said of the meeting that the IMF was ready to support Pakistan and also referred to reforms the country needed to carry out to strengthen the economy.
Khan also repeatedly praised China in his speech.
Pakistan has been a prime recipient of funds and infrastructure financing from China's ambitious 1 trillion-plus US dollar "Belt and Road Initiative."
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(With inputs from APTN)