Due to worries over immoral material and an excessive outflow of US dollars, the State Bank of Pakistan (SBP) has ordered the Pakistan Telecommunication Authority (PTA) to restrict various live-streaming platforms.
SBP saw large quantities of foreign currency (FX) being transferred outside by Pakistanis via specific social media sites.
SBP noted that these social media networks primarily contained live-streaming channels like Bigo Live, Mico, StreamKar, and others while conducting an analysis of FX use. The bank claims that these websites are used for more than only online dating and that it is the responsibility of PTA to:
Ban websites and social media platforms that host or promote pornographic, immoral, or sexually explicit content or activities.
With a variety of in-app casino games and other activities, these platforms are also engaged in gambling. A total of $8.93 million has reportedly been transferred over the last two years via these live-streaming platforms, based on the State Bank’s evaluation.
Hence, in light of the pertinent social media regulations and standards, SBP has instructed PTA to monitor the content and activities on mentioned websites.
PTA should consider if such platforms/applications should be prohibited in order to stop the dissemination of immoral content and activities, as well as to protect the nation’s priceless foreign exchange reserves.