A father of two in Rawalpindi has committed suicide after being blackmailed by an instant loan app.
Muhammad Masood, 42, took out a loan of Rs13,000 from the app to pay for his children’s school fees and house rent. However, the loan was later raised to Rs100,000, and Masood was unable to repay it.
The app’s recovery agents began harassing Masood, calling him and threatening him with legal action. They also threatened to leak his personal information online.
Masood was reportedly in a state of depression due to the harassment, and he eventually took his own life.
His wife, Bushra Masood, told the media that her husband was a kind and gentle man who would never have hurt himself if it weren’t for the pressure from the loan app.
“He was being blackmailed and threatened,” she said. “He was in a lot of pain.”
The police have registered a case against the loan app, and an investigation is underway.
This is not the first time that an instant loan app has been linked to a suicide in Pakistan. In 2022, a 22-year-old woman in Karachi committed suicide after being harassed by the recovery agents of an instant loan app.
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These cases highlight the dangers of instant loan apps, which often charge exorbitant interest rates and fees. They also highlight the need for better regulation of these apps in Pakistan.
The news has left social media users in Pakistan upset and shocked. They believe that the increasing inflation and shrinking income of people trigger them to opt for risky options to earn money.
Recently, a ship carrying illegal immigrants sunk in Greece causing angst in Pakistan since many victims who lost their lives in the incident belonged to Pakistan. Near 300 Pakistanis were killed in the incident. These victims were traveling to Europe to find better economic opportunities.