Pakistan to remain in FATF's grey list
As the review meeting of Financial Action Task Force (FATF) held in the French capital Paris on Tuesday, Pakistan retained its position in the grey list of the terror watchdog. In a major setback, Islamabad didn't get any respite even after the support of Turkey and Malaysia. With the evaluation of the International Co-operation Review Group, which is a part of FATF, the Imran Khan administration will find it difficult to revive the ailing economy of Pakistan as it will not get any financial aid from the IMF, World Bank, ADB, and European Union.
The subgroup of FATF on Tuesday stated that the government of Pakistan didn't take sufficient steps to keep terror groups in check and recommended the continuation of the South Asian country in the grey list. The final decision will be announced on Friday i.e on February 21.
A week-long plenary session of FATF, which started on February 16, was to decide whether to retain Pakistan in its 'Grey list' or to put it under the 'Blacklist'. The plenary session assessed Imran Khan's government's efforts to bring down the terror funding and money laundering activities.
Earlier, Federal Minister for Economic Affairs Hammad Azhar-led Pak delegation had submitted a compliance report of at least 14 points out of the 27 point action plan to counter money laundering and terror financing.
Pakistan was put in the grey list of the global terror financing watchdog, in 2018 and was granted an extension till February 2020 during a meeting in October last year.
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