Pakistan Authorities Crack Down on Illegal Betting Companies, Targeting Economic Stability
In a move to combat illegal gambling and betting, Pakistani authorities have launched a crackdown on over 150 surrogate betting companies, believed to have caused significant economic losses by channeling billions of dollars to "hostile" nations. These firms primarily focused on sports betting, with a significant emphasis on cricket. The Ministry of Information and Broadcasting issued a notification highlighting the economic repercussions of these operations, and the government has taken a firm stance by instructing various entities to cease any agreements with these surrogate companies. The government's actions aim to protect Pakistan's economic stability and sports integrity from the adverse effects of such activities.
Karobar
In a significant move to combat the menace of illegal gambling and betting operations, Pakistani authorities have initiated a sweeping crackdown targeting more than 150 surrogate betting companies. These firms are believed to have caused substantial economic losses by channeling billions of dollars to countries perceived as "hostile" to Pakistan.
The operations of these entities predominantly revolved around amplifying sports betting, with a particular focus on cricket, utilizing online platforms and mobile applications accessible within Pakistan.
Murtaza Solangi, Pakistan's Minister for Information and Broadcasting, has revealed that various institutions, including the military establishment, are working in tandem to eliminate these illicit betting companies.
These activities has been estimated to be in the billions of dollars.
A notification issued by the Ministry of Information and Broadcasting underscores the severe economic repercussions associated with these enterprises. These companies have been accused of normalizing unlawful betting practices and transferring untaxed funds abroad, primarily in U.S. dollars, to nations that are considered unfriendly to Pakistan. The economic impact of these activities has been estimated to be in the billions of dollars.
While the precise destination of these untaxed funds remains unconfirmed by the Ministry, credible sources suggest that a substantial portion of these funds may have ended up in India.
In response, the government has taken a resolute stance against such activities. A directive has been issued, instructing various entities including the Pakistan Cricket Board, Pakistan Super League, media outlets, and various platforms to cease any agreements or promotional activities with these surrogate companies. The notification emphasizes the immediate termination of existing agreements with such entities.
Moreover, the official notification underscores the risks posed by these foreign betting and gambling entities, many of which are purportedly operated from India. These entities raise concerns about the potential corruption of Pakistan's sports integrity and the exacerbation of economic challenges due to the unregulated transfer of untaxed funds out of the country.
An anonymous government source, speaking on the matter, disclosed to The News that a significant number of these companies were indeed operating from India, although official confirmation has not been provided.
The government's decisive actions signify an unwavering commitment to combating these illegal operations, with the aim of safeguarding Pakistan's economic interests and preserving the integrity of its sports from the detrimental influence of such activities.
