Staff Reporter Islamabad
Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Shaikh Monday, while acknowledging the robust progress demonstrated by the relevant ministries and departments, urged to expedite efforts for fulfilling requirements in the few remaining areas of the Financial Action Task Force action plan.
Pakistan has already made progress across all FATF action plan items and has now largely addressed 24 of the 27 action items. Chairing the 17th meeting of the National Executive Committee (NEC) on Anti-Money Laundering, the minister said that strict adherence to timelines would culminate into the successful completion of the FATF Action Plan.
The minister commended the great efforts made by the National Executive Committee, under the chairmanship of the Minister for Industries and Production Hammad Azhar, in achieving major milestones concerning the 27-point FATF Action Plan.
Among others, the meeting was attended by Federal Minister for Industries and Production Hammad Azhar, Secretary Law Raja Naeem Akbar, Secretary Finance Kamran Ali Afzal, Director-General-FMU Lubna Malik, Director General-FATF Khawaja Adnan, Director General-OPS NAB Zahir Shah, Director General (CT) Ministry of Foreign Affairs Asim Ali Khan, Deputy Governor State Bank of Pakistan Jameel Ahmed, Additional Director General FIA Ahsan Saqib, Director-General MO Major General Nauman Zakaria and senior officials of the Finance Ministry.
The minister said the unity of purpose, teamwork, and meticulous coordination among various ministries and departments concerned have brought Pakistan closer to achieving the target of completing the FATF Action Plan despite enormous challenges.
DG Financial Monitoring Unit briefed the committee on overall progress achieved on the FATF Action Plan and outlined efforts underway for the remaining targets to be achieved in due course of time.
Pakistan has received international recognition and support for making strides vis-a-vis an exigent Action Plan given by the Financial Action Task Force, she apprised.
It is pertinent to mention here that the Financial Action Task Force (FATF) Thursday appreciated Pakistan for the significant progress made on the entire action plan.
The Plenary meetings of FATF were held virtually from February 22 to 25,2021, during which its members discussed a range of topics relating to Pakistan’s progress.
Pakistan has made progress across all action plan items and has now largely addressed 24 of the 27 action items,” FATF stated in its plenary meeting held on February 25.