ISLAMABAD – Financial Action Task Force issues new set of demands anddeadline for Pakistan.
Pakistan has renewed its commitment to take necessary measures for ensuringtimely completion of the action plan given by the Financial Task Force(FATF). This was announced in a press release issued from the Ministry ofFinance on Friday.
The presser that came at the end of a week-long meeting of the FATF inOrlando, Florida, said that the meeting reviewed Pakistan’s efforts tocomply with the international standards of Anti-Money Laundering andCounter Financing of Terrorism (AML-CFT).
The statement said that during the recently concluded meeting, FATFreviewed steps taken by Pakistan in accordance with the given action plan.——————————
“It acknowledged the implementation efforts by Pakistan and [also]highlighted the need for further actions for implementing the action plan.FATF will undertake the next review of Pakistan’s Progress in October2019,” the ministry said.
It reiterated that the Government of Pakistan is committed to taking allrequired measures to ensure timely completion of the Action Plan.
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Meanwhile, the FATF also issued a statement at the end of the meeting onFriday and expressed reservations on Pakistan failing to implement theaction plan twice in five months – missing the January and May deadlines.
The watchdog also urged the country to “swiftly complete its action plan byOctober 2019 when the last set of action plan items are set to expire.”——————————
The Task Force handed over Pakistan a new ten-point action plan required tobe thoroughly implemented by October. The ‘insufficient progress’ after theOctober deadline will prompt FATF to decide its next step, the statementsaid.
