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Pakistan banks, telcos clash over Rs26bn messaging fee overcharges in Senate hearing

Pakistani banks and telecommunications companies traded accusations before a Senate committee over alleged overcharging of bank customers for SMS services, with both sides blaming each other for the Rs26 billion in disputed fees. Banks claim they operate at a loss (Rs7bn annual deficit) after paying telcos 88% more since 2021, while providing mandatory regulatory and security messages with customer consent. The Senate Finance Committee has demanded detailed transaction records and rate schedules from both sectors and regulatory bodies (SBP, PTA) to investigate.