Pak needs to focus on action plan to avoid inclusion in FATF watchlist: Miftah
Miftah said it is only an effort on the part of some countries to malign Pakistan.
ISLAMABAD (Web Desk) – Prime Minister’ Advisor on Finance and Economic Affairs, Miftah Ismail on Friday said that Pakistan’s name has not been mentioned in the list of Financial Action Task Force.
Talking in Dunya Kamran Khan Kay Sath program, Miftah said it is only an effort on the part of some countries to malign Pakistan but it will not be successful as many countries supported our position. He said Pakistan needs to focus on long term planning and implementation of action plan.
Meanwhile, Federal Minister for Defense Khurram Dastagir Khan revealed that the decision to include Pakistan in the list will be taken in June due to which no debate can be held so far.
Also Read: Pakistan not mentioned in FATF terror financing grey list
According to an official statement of FATF on February 23, the countries made part of the so-called "grey list" include Ethiopia, Iraq, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu and Yemen.
However, Pakistan will be included in the list in June this year, sources told.
Earlier in the week China, Turkey, and the Gulf Cooperation Council (GCC) were opposing the U.S.-led move against Pakistan but by Thursday night both China and Saudi Arabia dropped their opposition.
FATF issues a list thrice in one year of countries that failed to maintain international standards in countering money laundering and combating financing for terrorism (AML/CFT). Sources claimed that Pakistan has received a reprieve of three months, which is till June when it is time for the second list of the year.
The move comes days after reports that Pakistan had been given a three-month reprieve before being placed on the list, which could hamper banking and hurt foreign investment.
Pakistan was previously on the list for three years until 2015.
Pakistani officials and analysts fear being on the FATF watchlist could endanger its handful of remaining banking links to the outside world, causing real financial pain to the economy just as a general election looms in the summer.
Under FATF rules one country’s opposition is not enough to prevent a motion from being successful. Britain, France and Germany backed the U.S. move.
