ISLAMABAD – Pakistan is likely to be given further time to October to exitfrom the Financial Action Task Force (FATF) grey list, it was learnt hereon Thursday.
The decision regarding Pakistan stay or exit from the grey list is expectedtoday (Thursday) at the ongoing FATF plenary in Paris.
As per reports, Indian attempts to blacklist India foiled after no countrysupported India’s attempt to blacklist Pakistan.
It was learnt that Indian demand for members countries to blacklistPakistan, 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 gray list, it was learnt. Meanwhile, the FATF has said Pakistanmust ensure implementation of money laundering laws.
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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, the Ambassador of NetherlandslinktoPakistan Willem Wouter Plomp extended their support to Pakistan at the FATFreview, during a meeting with Speaker National Assembly Asad Qaiser. Theenvoy appreciated Pakistan for its measures taken against money launderingand terror financing.
More than 800 representatives from 205 countries and jurisdictions aroundthe world, the IMF, UN, World Bank and other organizations areparticipating in these meetings.
The ongoing plenary will decide Pakistan’s fate regarding if it will stayinto grey list or not.
