Positive development reported for Pakistan over FATF issue

Positive development reported for Pakistan over FATF issue

ISLAMABAD -- Pakistan in a recent meeting with Asia-Pacific Joint Group of the Financial Action Task Force (FATF) has apprised the global body of full-filing its most of the demands hoping to come out of grey list next month.

During the meeting which took place in Beijing last week, Pakistan told the body that 13 out of 27 points of action plan to exit the grey list have been met.

Reports quoting officials say that members of the joint group were generally appreciative of Pakistan’s efforts to show satisfactory progress on majority of the 27-point action plan.

Islamabad had sent a 650-page review report to the FATF on January 8 in response to 150 questions raised by the watchdog.

Pakistan which was placed by Financial Action Task Force on its grey list last June for its poor performance is taking measures to escape being blacklisted by the global watchdog.

In October last year FATF gave another warning to Islamabad to show full compliance by February 2020.

The joint group would now finalise its report by February 1 for circulation to all 39 members who will be attending the crucial FATF Plenary and Joint Working Group meetings in Paris on Feb 16-21.

Earlier this month the National Assembly of Pakistan had passed a bill for exchange of information and criminals with countries to meet a requirement of the the FATF.

Recently President of Pakistan had promulgated an Ordinance making tax laws strict. Under the ordinance, the government will form Directorate General of Law and Prosecution.

Pakistan in an attempt to fulfill the FATF requirements had also followed the instructions of UN sanctions committee and recently arrested the heads of some banned outfits.