Pakistan Telecommunication Authority (PTA) has blocked 43 digital lending apps operating without a proper licence.
The said action has been taken on the directions given by Federal Minister for Information Technology and Telecommunication (MoITT) Syed Aminul Haque.
The action was taken against the loan shark apps after being criticised for their predatory lending tactics after a man hailing from Rawalpindi committed suicide for failing to repay the debt which had swelled to Rs800,000.
Federal Minister Haque in a statement said that ‘strict action’ had been taken against those apps which were ‘blackmailing the masses’.
The minister emphasized the importance of launching an awareness campaign to prevent people from falling victim to such fraudulent activities.
The ministry has stressed that individuals should report complaints to relevant authorities such as the PTA, the FIA Cybercrime, and local police to take appropriate action against these illegal loan apps.