ISLAMABAD – Pakistan faces big challenges over the Financial Action TaskForce, coming out from greylist may not be easy, Minister for EconomicAffairs Hammad Azhar has admitted.
He said that Pakistan faces greater FATF challenges than other countriesbecause of its risk profile.
He further stated that the completion of one action plan does not mean thatthe country will be out of the greylist. He apprised that Pakistan’sforemost priority is to complete the 27-point action plan of InternationalCooperation Review Group (ICRG). Pakistan was compliant, partiallycompliant and largely compliant on 22 action points and was non-complainton five action points of ICGR.
He said that Pakistan will submit an initial report in December followed bythe second report on January 7, 2020 which would be put up before the FATFplenary at the end of January to be taken up by mid-February 2020.
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“We want to complete the ICRG action plan by 2020,” he added.
He said that substantial progress has been made and terror financingactivities are now being identified but the conviction remains a challenge.
