SBP rebuts holding payments to Google
State Bank of Pakistan on Saturday refuted reports that certain payment s to Google are stuck at the central bank, terming all such claims as baseless and misleading. News reports had been circulating in the media that Google Play Store services will no longer be available to Pakistani users after December 1 as the SBP had suspended the direct carrier billing (DCB) mechanism. The Telecom ministry, PTA and cellular service operators have approached the SBP to seek revocation of the step, since the move will cause issues for customers. "It is pertinent to mention here that we all understand the prevailing challenge of worsening economic conditions of the country and thus are open to working in an amicable way with the Regulator (SBP); as we are already working with them in case of the telecom sector imports related transactions to navigate through these testing times," said the letter sent by the telcos to the SBP. However, the SBP has refuted all such reports. "Recen...