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Pakistan shocked by FATF, Pak will remain in gray list


new Delhi: Pakistan has suffered a setback from the Financial Action Task Force (FATF). Pakistan will remain in the gray list only. FATF President Marcus Pleier said that Pakistan has failed to fulfill six of the total 27 action plans to curb financing of terrorism.

He said that Pakistan needs to make more efforts to stop financing terrorism. Pakistan should ban and prosecute those involved in financing terrorism.

The annual meeting was held digitally through a Paris-based organization that stopped and monitored terrorism financing and money laundering. In which the action plan of 27 points was reviewed.

The FATF put Pakistan in the ‘gray’ list in June 2018 and asked Islamabad to implement a 27-point action plan to stop money laundering and terrorism financing by the end of 2019. Due to the Kovid epidemic this period was increased.

Significantly, the debt-strapped Pakistan imposed financial restrictions on 88 banned terrorist organizations and their leaders in August as part of an attempt to get out of the FATF gray list. These include the mastermind of the Mumbai attack and Jamaat-ud Dawa chief Hafiz Saeed, Jaish-e-Muhammad chief Masood Azhar and underworld don Dawood Ibrahim.

Remaining in the gray list of Pakistan will make it more difficult for him to get financial support from international institutions like World Monetary Fund (IMF), World Bank, Asian Development Bank and European Union.

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