Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain says that all online loan applications should be stopped immediately.
The president of PBIF said that people are being cheated on the pretense of cheap and quick loans.
Mian Zahid Hussain says that heavy interest and penalty are charged for delay in loan repayment.
He said that multiple times of the original amount is being taken back through threats and fraud.
Mian Zahid Hussain said that a few raids by the Federal Investigation Agency (FIA) are not enough, the government should root out this fraud.
The PBIF president added that the Competition Commission has understood that the responsibility has been discharged by advising caution.
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