After the Financial Action Task Force (FATF) decided to keep Pakistan in the grey-list till February, Minister for Revenue Hammad Azhar congratulated the nation for successfully implementing the major points of the FATF.
“Out of 27 points, we have implemented 21 points given by the authorities concerned regarding FATF, ” he stated while talking to a private television channel. Except India, every country had appreciated the efforts of Pakistan for satisfying the people dealing FATF, he added.
Pakistan was placed on the grey list during the period of Pakistan Muslim League-Nawaz last government, he said. In reply to a question, he said the remaining six points had partially implemented. He also termed the decision that was taken without voting a “diplomatic victory”.
BLACKLISTING OFF THE TABLE:
In a statement, FATF urged Pakistan to complete an internationally agreed action plan by February 2021. FATF said Pakistan had now reached 21 targets out of 27 set for it in 2018 when Pakistan was placed on FATF’s “grey list” of countries with inadequate controls over terrorism financing.
But Pakistan still needs to demonstrate that law enforcement agencies are identifying and investigating the widest range of terrorism financing activity, FATF said.
The watchdog also asked Islamabad to demonstrate that terrorism financing probes resulted in effective, proportionate and dissuasive sanctions.
“FATF acknowledged that any blacklisting is off the table now,” Pakistani federal minister Hammad Azhar tweeted.
Azhar, who leads Pakistan’s delegation at FATF plenary meetings, said the forum’s discussions were focused on how Pakistan could be supported in meeting its targets before a formal review in the middle of next year.
Last February, Pakistan secured an extra four months to complete the plan after missing 13 of the 27 targets that FATF had set for it in 2018 when it put Pakistan on its “grey list”.