LONDON: Member British parliament Lord Nazir Ahmed has on Saturday warnedof serious repercussions if Pakistan is placed on global terror-financingwatchlist of Financial Action Task Force (FATF).

Nazir stated that flow of Foreign Direct Investment would suffer a majorblow if motion is adopted by the member nations. He has penned a letter toBritish government for reviewing the decision.Nazir accused Pakistan’s government of lack of timely action.

As per news garnered thus far, UK has lend its support to US’s motion aimedat placing Pakistan on FATF’s watchlist. The meeting of FATF will begin onFebruary-18 and would continue till February-23 this month in Paris.

Pakistan remains optimistic that motion wouldn’t be adopted by FATF asTurkey, Russia and China are content with the steps taken by Islamabad tocurb terror-financing.

The FATF is an international policy-making and standard-setting bodydedicated to combating money laundering and terrorist financing. However,watchdog lacks power to impose sanctions.