Wednesday, October 5, 2022

FATF decided not to remove Pakistan from the grey list

The Financial Action Task Force (FATF), a global terror financing watchdog, has chosen to keep Pakistan on its grey list until June in order to fulfill its objectives.

Following the FATF’s assessment, Pakistan has addressed 26 out of a total of 27 problems, with the organization stating that the next evaluation of Pakistan’s progress will take place in June.

Earlier in February, Finance Minister Senator Shaukat Tarin stated that it was an injustice that Pakistan had not been removed from the Financial Action Task Force (FATF ) grey list despite having implemented all 27 of the organization’s recommendations.

He had stated that Pakistan was required to follow 28 points of the FATF’s action plan and that the government has effectively completed 27 of those points so far.

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As Shaukat Tarin pointed out, “Any country that has implemented 27 points is automatically removed from the FATF’s grey list; yet, it is an injustice that the same precedence is not being followed in our instance.”

Pakistan’s finance minister, on the other hand, stated that the country would be removed from the grey list as soon as possible.

He had placed the burden for Pakistan’s presence on the grey list squarely on the shoulders of the previous regime, claiming that they had done something wrong that had resulted in the decision by the anti-money laundering authority.

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