The State Bank of Pakistan (SBP) has directed the Pakistan Telecommunication Authority (PTA) to block some live-streaming platforms over concerns of immoral content and excessive outflow of US dollars.
According to a document available with ProPakistani, SBP noted significant amounts of foreign exchange (FX) being remitted abroad by Pakistani individuals over certain social media platforms.
While conducting an assessment of FX consumption, SBP observed that these social media platforms mostly included live-streaming channels such as Bigo Live, Mico, StreamKar, and others. The bank says that these websites are being used for creating and sharing immoral content in addition to virtual dating and that it falls upon PTA to:
Block URLs and social media applications containing and promoting immoral, pornographic, and sexually explicit content and acitivites.
These platforms are also involved in gambling through various in-app casino games and other means. According to the State Bank’s assessment, a total of $8.93 million has been remitted over the last two years through these live-streaming platforms.
Therefore, SBP has directed PTA to review the content and activities on said websites in light of relevant social media guidelines and regulatory framework.
PTA should decide whether such applications/platforms could be blocked to prevent the spread of immoral content and acitivities to preseve the precious foreign exchange reserves of the country.
Good move
We are in an economic mess. But now even State Bank will do moral policing?. It is not the job of Statebank to determine the morality of any Internet platform. It is not their job. Tell us why Pak Currency crashed and what Statebank is doing?. Why Interest based system is still working in Pakistan?.
Also 8.9 Million US dollars in 3 years is nothing. We have billions of Dollars of corruption but statebank is checking some unknown platforms for some million dollars and to get some attention. If you want to ban then ban Tiktok that is destroying the future generations of Pakistan.
Can I borrow couple of millions from you interest free?
The real job of Statebank is to check Banks and keep a check on Pakistani currency. These Baabus should be dismissed as they are doing publicity stunts rather than doing their ACTUAL jobs.
Some questions to state bank of Pakistan:
1) Why we have Soodi Nizaam (interest based system) in Pakistan?.
2) Why Pakistan’s interest rate is highest in Region? 21% Sood (interest)?
3) What are you doing to bring Islamic banking system in Pakistan?.
4) Why Pakistan has no Islamic Credit Card and State bank is promoting Master and Visa Card?
Some $8 millions in 2 years. What about the smuggling of $5 millions PER DAY through Afghan Border? Are they going to write to the customs and the army now?