Pakistan fails to complete FATF's action plan, to remain in 'grey list' till February 2021
New Delhi | Jagran News Desk: The Financial Action Task Force (FATF) on Friday ruled that Pakistan will remain in its 'grey list' until February 2021 as it failed to complete the 27-point action plan given by the global terror financing watchdog earlier this year.
The FATF said that Pakistan, which has not met six of the 27 points it had to fulfil, needs to do more on checking terror funding and complete full action plan. The global watchdog for terror-funding and money laundering gave Pakistan time till February next year failing which the country will be pushed in the blacklist.
"To date, Pakistan has made progress across all action plan items & has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, FATF strongly urges Pakistan to swiftly complete its full action plan by Feb 2021", the Financial Action Task Force (FATF) said today.
The Imran Khan-led government lost Pakistan's bid at the FATF because of its failure to comply with the requirements of the Paris-based watchdog. Pakistan, already facing a severe economic and financial crisis, has been in the grey list since 2018.
According to the FATF, Pakitan managed to complete 21 of the 27 points listed in the action plan handed over to them. However, the remaining 6 points are serious deficiencies that are still to be repaired. The FATF also directed the country to do its best to work on the remaining 6 items.
"Pakistan completed 21 of 27 items, it definitely means that the world has become safer. But the 6 outstanding items are very serious deficiencies that still have to be repaired, risks haven't gone. Pakistan govt must do its best to work on these 6 items", Marcus Pleyer, FATF president said on Friday as quoted by news agency ANI.
The FATF, global watchdog for money laundering and terror financing, began its virtual plenary meeting from October 21 in Paris to decide if Pakistan should be excluded from its grey list, based on its performance on the action plan handed over to the country, to meet global commitments and standards on fight against money laundering and terror financing.
Posted By: Talib Khan