The Government of Pakistan has taken strong action against dishonest loan providers to tackle the increasing problem of illegal loan applications. The Federal Minister for Information Technology and Telecommunication, Amin-ul-Haque, has announced proactive measures by the government to address this issue, highlighting its urgency.
The Chairman of the Pakistan Telecommunication Authority (PTA), Major General (r) Hafeezur Rehman, has issued immediate instructions to deal with the problem of illegal loan applications. As a result, the PTA has already blocked 43 loan applications. These companies were registered with the Securities and Exchange Commission, emphasizing the importance of stopping illegal practices in the lending industry.
Minister Amin-ul-Haque has revealed the involvement of criminal organizations, especially on social media platforms like Facebook, in carrying out fraudulent schemes. These unethical entities have been blackmailing unsuspecting individuals, exploiting their financial vulnerabilities for personal gain.
To raise public awareness and safeguard citizens from becoming victims of these fraudulent activities, a comprehensive public awareness campaign has been launched. The public is strongly urged to report any suspicious loan applications or incidents involving loan criminal groups to the PTA, the Federal Investigation Agency’s (FIA) Cybercrime wing, or local police stations.
The government’s efforts involve a collaborative approach among different law enforcement agencies to tackle the increasing wave of cybercrime in the country. Minister Amin-ul-Haque maintains direct communication with the Director General of the FIA, providing regular updates on the operation’s progress to ensure effective coordination.
