ISLAMABAD – The Financial Action Task Force (FATF) would formally announcedits decision regarding keeping Pakistan on grey list or not today (Friday),as the plenary concludes in Paris.
Pakistan is likely to be given further time till October to achieve fullcompliance with the FATF 27-point action plan and exit from the grey list.
As per reports, Indian attempts to blacklist India foiled after no countrysupported India’s attempt to blacklist Pakistan. It was learnt that Indiandemand for members countries to blacklist Pakistan, which was rejected.
The FATF members praised Pakistan for taking effective steps, counteringmoney laundering, and terror financing. The FATF expressed satisfactionwith Pakistan’s performance report. As per reports, Pakistan has fullyimplemented 14 out of 27 points of FATF recommendations.
Meanwhile, the FATF members have called for more steps to be taken to getPakistan out off the grey list. Pakistan has made effective legislation toexit the grey list, it was learnt. Meanwhile, the FATF has said Pakistanmust ensure implementation of money laundering laws.
Pakistan was placed on the grey list by the Paris-based watchdog in June2018 and was given a plan of action to complete it by October 2019.
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The Pakistani delegation is being led by Federal Minister for EconomicAffairs Hammad Azhar, who is also accompanied by officials of the Ministryof Finance, the State Bank, and Federal Board of Revenue (FBR).
Earlier, Minister for Foreign Affairs Shah Mahmood Qureshi said Pakistanhad successfully fulfilled the requirements and guidelines of FATF. He saidthat the present government took sweeping steps to check terror financingand money laundering with effective legislation.
He maintained the steps were also acknowledged during the recentlyconcluded meetings of the FATF body. Pakistan took serious actions andimplemented a plan of action.
More than 800 representatives from 205 countries and jurisdictions aroundthe world, the IMF, UN, World Bank and other organisations areparticipating in these meetings.
