ISLAMABAD – Days after Prime Minister Shahid Khaqan Abbasi launched taxamnesty scheme, the Financial Action Task Force (FAT) expressed concernsover it, saying the scheme would undermine global fight against moneylaundering and terror financing.

The intergovernmental organistation, which maintains grey and black listsfor identifying countries failed to take appropriated steps to curbmoney-laundering and terror financing, wrote a letter to letter to Adviserto the prime minister on Finance Miftah Ismail, in this regard.

According to reports, the FAT informed the adviser about reservationsregarding the possibility of violation of money laundering laws and surgein terrorist financing under this package.

Sources at Ministry of Finance told Express Tribune that there was somelapse on part of Pakistan, as it did not seek prior approval of the FATFfor the amnesty package.

In February, the FATF in its plenary session held in Paris decided to putcountry on the greylist from June.

Miftah Ismail, talking to a private news channel, on Saturday said that theamnesty scheme does not violate money laundering laws

“Pakistan’s tax amnesty scheme adheres to all international anti-moneylaundering laws,” the adviser said while speaking to Geo News.

Ismail confirmed that he received an email from the FATF, calling forfollowing the accepted guidelines.

“The FATF has stressed upon strict monitoring of money laundering andterrorist financing activities,” the Pakistani premier’s financial advisersaid.

The government also faced criticism from opposition parties, includingPakistan Tehreek-e-Insaf, which has announced to challenge tax amnestyscheme in court.

The PTI has rejected the 5 points amnesty scheme of government launched towhiten the ‘Black money’ for Pakistanis living in the country and abroad.

“The money launderers are filling their own pockets, this is not a schemebut a gift to looters. The matter of amnesty scheme will be raised in theSenate and a resolution will be moved against this scheme,” said Fawad,party’s spokesperson as he addressed media on Friday.

Earlier on Thursday, Prime Minister Shahid Khaqan Abbasi opened athree-month window for wealthy Pakistanis to whiten their hidden local andforeign assets at nominal rates from two percent to five percent.