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Business & Finance

Govt introduce strict measures in Anti-Terrorism (Amendment) Bill 2020

  • According to the bill, banned organizations and their affiliates will be barred from providing loans or financial assistance.
  • Bank or financial institution will not be able to issue credit cards to the prohibited person.
Published Updated

The National Assembly (NA) on Wednesday passed the Anti-Terrorism (Amendment) Bill 2020, by a majority. The bill includes strict measures against those working for banned individuals or outfits.

According to the bill, banned organizations and their affiliates will be barred from providing loans or financial assistance. Bank or financial institution will not be able to issue credit cards to the prohibited person.

Under the bill, arms licenses already issued will be considered revoked. The travel documents and accounts of the person involved in terrorism will be frozen, the money and property of such persons will be frozen and confiscated without any notice.

Those who do not follow the law will be jailed for 5 to 10 years and fined Rs 25 million.

Furthermore, the Definition of Person has been amended in the Anti-Terrorism Act Amendment Bill and under this amendment, the definition of a person will be an individual, legal person, and corporate body.

It also said that if a person to whom a UN Security Council resolution applies and fails to implement it, penalties along with fines are also proposed. The amendment increased the fine from Rs 10 million to Rs 50 million and carries a maximum sentence of 10 years in prison.

In light of the Financial Action Task Force (FATF) targets, amendments have been introduced in the Anti-Terrorism Act and the Penal Code of Pakistan, according to which the arms licenses of persons on the list of suspected terrorists will be revoked while no person or institution will be able to lend to such persons.

The bill also states that a person who lends money to a suspected terrorist will be fined Rs 25 million while the lending institution will be fined Rs 50 million.

The Special Secretary for Foreign Affairs briefed the Senate Standing Committee on the UN Security Council resolution. He said the UN's Financial Action Task Force had proposed amendments to the anti-terrorism bill.

The committee members asked the Special Secretary for Foreign Affairs whether this was a demand of the UN body or whether there were some loopholes in Pakistani law. The committee members were told that suggestions had been made by the UN body.

The official said the Functional Action Task Force Asia-Pacific oversees the implementation of these laws, and that UN resolution must be implemented.

Strict action will be taken against any person or organization for any kind of support to the militants and at the same time, the property will be frozen along with heavy fines.

According to the Anti-Terrorism (Amendment) Bill, 2020 there will also be fines for providing assistance or financing the sending of a person or group abroad for terrorist purposes.

The bill also stipulates that all movable and immovable property of any banned organization or its affiliates will be immediately frozen.

If the property is not verified, the properties which are outside the jurisdiction of the court will also be foreclosed.

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