Pakistan to remain on FATF’s grey list till June

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The Financial Action Task Force (FATF) has given Pakistan four more months (till June 2021) to implement the remaining points of the action plan to curb terror financing.

The international watchdog announced its decision on Thursday after reviewing the measures taken by Pakistan in this regard during its plenary meeting, which was held virtually from 22-25 February 2021.

Pakistan had submitted a detailed report on the implementation of the remaining six points of the 27-point action plan that the FATF has given to the country.

Back in October 2020, FATF had acknowledged that Pakistan had successfully implemented the 21 points.

Today, FATF President Dr Marcus Pleyer while addressing via video link hailed that Pakistan has implemented 24 points aim at curbing terror financing.

Appreciating Pakistan’s commitment, he remarked: “…its not a time to put it on the blacklist”.

“The deadline for Pakistan had expired, that is why the body had urged Pakistani authorities to ramp up their efforts in dealing with the items,” Pleyer added.

Federal Minister for Industries and Production Hammaz Azhar said that Pakistan has completed almost 90 percent of the action-plan with 24 out of 27 items rated as ‘largely addressed’ and the remaining three items ‘partially addressed’.

It was also noted by FATF member countries that Pakistan is subject to perhaps the most challenging and comprehensive action plan ever given to any country, he said.

“We are also subject to dual evaluation processes of FATF with differing time-lines,” he said.

“Pakistan remains committed to complying with both FATF evaluation processes and I would like to commend the hard work done by dedicated teams in multiple govt depts at Federal & provincial tiers,” the minister added.

 

 

 

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