Pakistan's fate hangs in balance as FATF meet begins today. Will Pak make it out of the grey list?

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The Financial Action Task Force (FATF) to decide on Pakistan's fate starts today in the French capital Paris. The terror financing watchdog will assess the steps that Imran Khan government has taken against the terrorist organisations operating from its soil and then take a call whether Pakistan will be taken out of the Grey List of FATF or ask it to do more. 

Depending on the efforts on Pakistan's part to counter terrorism, FATF will either move Pak out of the Grey List, keep it there or put it in the Black List. If Pakistan is blacklisted, Imran's country will join Iran and North Korea as countries comprising of the FATF Black List. In that case Pak will find it extremely difficult to revive its already ailing economy. 

If the country is whitelisted, it will find it easier to get financial aid from the IMF, World Bank, ADB and European Union. 

To get out of the Grey List, Pakistan needs a minimum of 15 votes. To avoid Black List, a minimum of 3 votes are required. 

FATF comprises of 36 members with voting powers and two regional organisations. Together, these countries and organisations represent most of the world's major financial infrastructure. 

Pakistan has an active support from it's all weather friend China, who has been its only support on international platforms for years. Recently, Malaysia and Turkey have also supported Pakistan in the FATF meetings. 

Rajya Sabha MP Subramanian Swamy had tweeted on January 24: "The US and China have decided to get Pakistan off the FATF "Grey List” instead of upgrading to “Black List” —notified Terrorist Nation. This is a huge set back for India if it happens. Namo [PM Modi] should hold a review then to discover why we are sliding down in international stature."

In its last meeting in October 2019, FATF had said that Pakistan has addressed only 5 out of the 27 parametres on which FATF rates nations. Pakistan has been asked to get a grip on terror groups like the Lashkar-e-Taiba, Jaish-e-Mohammad and Hizbul Mujahideen, responsible for a series of attacks in India.

Days before FATF meet, Pakistan jailed the 26/11 Mumbai attacks mastermind Hafiz Saeed to 11 years in prison in two terror financing cases.