Shaukat Tarin hopes Pakistan will come out of FATF's grey list in next review meeting
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Shaukat Tarin hopes to come out of FATF's grey list in next review meeting
ISLAMABAD (Dunya News) – Finance Minister Shaukat Tarin on Friday told that Pakistan has met 27 out of 28 conditions of the Financial Action Task Force (FATF).
Addressing the members in Senate, the minister said, “We have fulfilled our targets and hoped the country will come out of the grey list in the next review meeting of the FATF.”
He said the foreign exchange reserves of State Bank of Pakistan (SBP) have increased over the last one year which will help reduce pressure on the rupee.
“Pakistan received three billion dollars from Saudi Arabia in the month of December 2021 for a period of one year at four percent interest rate,” he added.
Shaukat Tarin said the country’s exports and remittances are increasing whilst the trade deficit reduced by 1.5 billion dollars last month. The government has tried not to pass on to the people the full burden of international increase in petroleum products,” he told.
The minister expressed we have reduced the sales tax and Petroleum Development Levy on petroleum products to provide relief to the masses.
Pakistan will start using the Saudi oil facility on deferred payment from next month, he stated.
