Senate panel seeks data on bank SMS charges, flags telecom non-compliance

The Senate Standing Committee on Finance, Chaired by Senator Saleem Mandviwalla, sought detailed data on SMS alert charges in the banking sector, expressing concern over the lack of information from telecom companies.

The committee was briefed by the State Bank of Pakistan on the cost structure of SMS alerts, with the Pakistan Telecommunication Authority informing members that banks rely on bulk messaging services through aggregators, increasing per-message costs.

The committee noted that banking customers receive an average of around 15 SMS alerts per month.

Mandviwalla directed banks and telecom operators to submit comprehensive data on SMS costs and revenue, and tasked the PTA with developing a solution in consultation with stakeholders.

The panel also reviewed measures to promote PayPak, with officials informing members that the government is advancing digital payments through QR-based systems.

Members were told that PayPak usage has increased and that the system is being co-badged with international networks such as Visa.

The committee emphasised the need to expand PayPak adoption to reduce reliance on international payment systems and limit foreign exchange outflows.

Separately, the committee raised concerns over the non-implementation of asset declaration laws for government employees, with members terming the situation a violation of legal requirements.

The chairman directed authorities to coordinate with relevant departments to address the issue and report progress at the next meeting.

The committee also reviewed the Corporate Social Responsibility Bill, 2026, and recommended its passage with amendments, including mandatory disclosure of CSR activities.