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Yousuf Raza Gilani approves Rs265m surrender to national exchequer amid austerity drive
Senate Chairman Yousuf Raza Gilani approves surrender of Rs265m to support govt austerity drive, vows further spending cuts to stabilise economy.
ND
by News Desk
2026-03-27
Yousuf Raza Gilani approves Rs265m surrender to national exchequer amid austerity drive

Senate Chairman Yousuf Raza Gilani on Friday approved the surrender of Rs265 million to the national exchequer as part of ongoing efforts to support the government’s austerity drive amid challenging economic conditions.

The move comes in the wake of austerity measures announced on March 9 by the government, aimed at conserving fuel and reducing expenditures in response to the global energy crisis triggered by the US-Israel war on Iran.

According to an official statement shared via the Senate’s X (formerly Twitter) account, the chairman approved the immediate transfer of Rs265 million to the Finance Division. The statement added that further efforts are underway to identify additional savings by curtailing expenses in the coming weeks, with the aim of depositing more funds into the national exchequer.

Gilani also directed the Senate Secretariat to ensure full implementation of austerity measures in line with the policy announced by Prime Minister Shehbaz Sharif. He stressed the importance of fiscal discipline, noting that the Senate, as a key constitutional institution, recognises the gravity of the current economic situation and remains committed to supporting the government’s efforts toward economic stability.

He called for strict adherence to cost-cutting strategies, including rationalised expenditures, reduction in operational costs, and efficient utilisation of resources. At the same time, he emphasised that parliamentary functions, legislative responsibilities, and oversight mechanisms must continue to operate effectively without disruption.

Expressing confidence in the outcome of these measures, Gilani stated that responsible financial management and collective institutional efforts would yield positive results for the country’s economy. He further reaffirmed the Senate Secretariat’s commitment to maintaining transparent and accountable financial practices while safeguarding public funds.

Earlier, on March 17, the Senate chairman had directed the implementation of wide-ranging austerity measures, projecting a reduction of more than 50 per cent in the Secretariat’s remaining budget utilisation for the current fiscal year. This is expected to generate savings of approximately Rs700 to Rs750 million.

In a related development, the Economic Coordination Committee (ECC) approved a Rs100 billion supplementary grant a day earlier for the prime minister’s austerity fund. The fund has been established to finance petroleum pricing subsidies and provide relief amid rising energy costs.
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