News Detail
Event Title: Senator Saleem Mandviwalla, Chairman Senate Standing Committee on Finance and Revenue presiding over a meeting of the committee at Parliament House, Islamabad.
Event Date: 2026-04-16
The Senate Standing Committee on Finance and Revenue met today under the Chairmanship of Senator Saleem Mandviwalla to deliberate on a range of key financial, legislative, and administrative matters, including “The Corporate Social Responsibility Bill, 2026,” asset declarations by government servants, enforcement of the Public Finance Management Act, 2019, SMS alert charges in the banking sector, support for Pay Pak and human resource issues in BISP.
The meeting was attended by Senator Sherry Rehman, Senator Anusha Rahman Ahmad Khan, Senator Manzoor Ahmed, and Senator Muhammad Abdul Qadir. Senator Jan Muhammad attended as mover of the question, while Senator Afnan Ullah participated as a Special Invitee.
The Committee received a detailed briefing from the State Bank of Pakistan (SBP) on SMS alert charges in the banking sector. The committee expressed displeasure over the non-submission of relevant data by telecom companies. The Committee was informed by the Chairman PTA that banks utilize bulk SMS services through aggregators, significantly increasing per-message costs. It was further noted that, on average, customers receive around 15 SMS alerts per month. The Chairman Committee directed banks and telecom companies to submit detailed data regarding SMS costs and revenue generation, and instructed PTA to formulate a comprehensive solution in consultation with all stakeholders.
The Committee also reviewed the request for government support to promote Pay Pak. The Minister of State for Finance and Revenue briefed that, in line with the Prime Minister’s vision, the government is advancing cashless digital transactions through QR-based payment systems. It was highlighted that Pay Pak usage has increased significantly and is being co-badged with international payment systems such as Visa. The Committee appreciated the progress and emphasized the need to further promote PayPak to reduce reliance on international payment networks and minimize outflow of foreign exchange. The State Minister for Revenue acknowledged and appreciated the committee's efforts and intentions to promote Pay Pak to save foreign exchange.
Deliberating on “The Corporate Social Responsibility Bill, 2026,” the Committee unanimously recommended the bill with amendments for passage from the House. It was decided to make disclosure of CSR activities mandatory. The Committee also highlighted the typographical errors and directed SECP to rectify the errors.
The Committee discussed the enforcement of the Public Finance Management Act, 2019. Senator Anusha Rahman Ahmad Khan emphasized the need for issuance of a Gazette notification under Section 36 to formally notify the public entities, noting that effective implementation of the Act depends on this step. She also highlighted instances, including retrospective increases in remuneration by SECP, attributing them to weak enforcement of the Act. The Chairman Committee directed the Ministry of Finance to issue the requisite notification and provide a detailed report to the Committee.
The matter of asset declarations by government servants was also taken up. The Committee expressed concern over the non-implementation of relevant laws by the Federal Board of Revenue (FBR). Senator Sherry Rehman termed the lack of seriousness in asset declarations a gross violation of law. The Chairman Committee directed the Minister of State for Finance to coordinate with the Establishment Division and FBR to resolve the issue and report in the next meeting.
The Committee also took up the matter referred by the House to the committee regarding human resource challenges faced by the Benazir Income Support Programme (BISP), particularly the shortage of staff in Balochistan. It was noted that a recruitment process concurrence is pending with the Ministry of Finance. The Committee was also informed that BISP disbursements are planned to transition to digital wallets after June 2026 instead of existing cash payment mechanism. The Chairman Committee directed the Minister of State for Finance to personally oversee the matter of HR for BISP and present progress in the next meeting.