Concerned about the country’s loss of foreign currency, State Bank of Pakistan (SBP) has ordered the Pakistan Telecommunication Authority (PTA) to either disable or outright prohibit live-streaming applications like Bigo Live and StreamKar.
SBP claims that Pakistanis have been sending a sizable sum of foreign cash abroad via these apps. Additionally, the central bank claims that these apps encourage gambling through a variety of platforms, such as in-app casino games.
According to the SBP, these live-streaming services have allegedly been used to send $8.93 million out of Pakistan over the past two years.
SBP has decided to outlaw these apps as part of its continuous efforts to stop unlawful actions that could damage the nation’s economy. In the near future, the PTA is anticipated to act in accordance with the SBP’s directives.
