Our Correspondent
Multan
Foreign Minister Shah Mahmood Qureshi on Saturday said that the government has prepared eight bills for legislation in regards to anti-money laundering and terror financing with a view for Pakistan to move into the Financial Action Task Force’s “white list” again.
“India has been attempting to have Pakistan pushed into the black list. If this were to occur, you know better than I, the effects it will have on the economy.
“The government has taken timely administrative and legislative steps to step out of the grey list and once again have Pakistan placed on the white list,” the foreign minister said.
He said that there are eight laws for which consultation talks were held with the law ministry, finance ministry, Financial Monitoring Unit and experts dealing with money laundering and counter-terrorism issues.
On the prime minister’s directives, the opposition has been taken into confidence, he said. A joint committee of 24 people has been formed which includes various factions of the opposition as well as representatives of the government. It contains both members of the National Assembly and the Senate. The committee will review the legislation.
“The prime minister wishes that the opposition be taken into confidence on this matter of national importance […] time is of the essence here. We must act timely so that the Asia Pacific Group, of which Pakistan is a member, can place the government’s practical steps before the [FATF] plenary which will then decide whether the obligations Pakistan was subjected to were fulfilled or not,” said the foreign minister. Qureshi said one law pertaining to the National Accountability Bureau has also been drafted. “The opposition has expressed its reservations about the NAB law,” said Qureshi.
“We are prepared to make changes in the NAB law,” he said, adding that the PPP and PML-N both had their time under the sun but failed to amend the NAB laws. “All the bills have been sent to the opposition (parties), including the one on NAB law,” he said.
