Pakistan being put on watch-list will affect foreign investment: Rana Afzal
The minister said that other countries are also being forced by US to join the motion.
ISLAMABAD (Dunya News) – Minister of State for Finance Rana Muhammad Afzal on Thursday has said that being put on a global terrorist-financing watch-list will badly affect foreign investment in Pakistan.
The minister said that other countries are also being forced by US to join the motion as a part of a conspiracy against Pakistan. This will be harder for foreign investors to spend money in the country, he added.
On the other hand, Indian government is being blamed for its involved in pushing US to continue with the motion.
Pakistan has been scrambling in recent months to avert being added to a list of countries deemed non-compliant with terrorist financing regulations by the Financial Action Task Force (FATF), a measure that officials fear could hurt its economy.
The United States has been threatening to get tough with Islamabad over its alleged ties with militants, and last month President Donald Trump’s administration suspended aid worth about $2 billion.
Earlier, a meeting of FATF member stated is due to take place next week in Paris, where the organization could adopt the motion on Pakistan. The FATF, an intergovernmental body based in Paris, sets global standards for fighting illicit finance.
Miftah Ismail, told that the United States and Britain put forward the motion several weeks ago, and later persuaded France and Germany to co-sponsor it.
“We are now working with the U.S., UK, Germany and France for the nomination to be withdrawn,” Ismail said, speaking by telephone from Europe. “We are also quite hopeful that even if the U.S. did not withdraw the nomination that we will prevail and not be put on the watchlist.”
Pakistan had been on the FATF watchlist from 2012 to 2015.
A senior U.S. official who follows U.S. policy in the region said Pakistan has “always been selective” in cracking down on militants who use its territory as a base.
“It is time for that to stop, and so we are working with our allies, who also are affected, to see effective action against groups such as the Haqqanis and elements of the Taliban,” said the official, referring to militants operating along the border with Afghanistan.
--- with input from Reuters
