PAKISTAN-FATF MINISTER

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Pakistani minister says country moves closer to removal from ‘grey list’.

Intro

Pakistani Minister of State for Foreign Affairs Minister Hina Rabbani Khar says the process for removal of Pakistan from the FATF ‘grey list’ will be completed by October after the visit from the technical inspection team hopefully exiting the country from the list.

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STORY: Pakistani Minister of State for Foreign Affairs Minister Hina Rabbani Khar said on Saturday (June 18) that the process for removal of Pakistan from the FATF ‘grey list’ will be completed by October after the visit from the technical inspection team hopefully exiting the country from the list.

The Financial Action Task Force (FATF) kept Pakistan on the list on Friday (June 18) but said that Pakistan had met all 34 items on two separate action plans, adding that the watchdog will now schedule an on-site visit to verify the implementation.

According to a statement by the global money laundering and terrorist financing watchdog, Pakistan has substantially completed all items on both its action plans.

While announcing the watchdog's decision, FATF President Dr Marcus Pleyer acknowledged the reforms implemented by the country, saying "they are good for the stability and security of the country".

The FATF decision came during a press conference after the conclusion of a four-day plenary session that began in Berlin, Germany, on Tuesday.

Khar said she was confident that the good news from FATF would restore confidence in Pakistan’s economy, will give it a much-needed boost, and would improve investment climate.

“I am quite confident, Insha Allah (God willing) that if we do not bicker and do not let this momentum go away, we should very clearly be on a trajectory of our way out, and again, as I said never again, never go back to the same place, make the same mistakes again,”she said.

In its last plenary, held in Paris in March this year, the FATF noted that "Pakistan has completed 26 of the 27 action items in its 2018 action plan".  

 

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