Global community recognizes Pakistan’s FATF measures, says Azhar
- Azhar told that the government had completed 14 of the 27 action items, whereas, out of the remaining 13, implementation on 11 points had been partially completed.
The global community has appreciated Pakistan on meeting Financial Action Task Force (FATF) targets, said Federal Minister of Industries and Production Hammad Azhar on Tuesday.
Cabinet members including Information Minister Shibli Faraz, Foreign Minister Shah Mahmood Qureshi, Adviser on Finance Hafeez Sheikh, Minister for Industries Hammad Azhar, and Special Assistant on Poverty Alleviation Sania Nishtar presented the two-year performance of the government at a news conference in Islamabad.
Addressing the media Hammad Azhar said that Pakistan was put on the FATF’s grey list during the previous government's tenure. "We were given a 27-point action plan by a joint group that was not given to any other country previously, and was needed to be implemented in such a short span of time," he said.
Azhar told that the government had completed 14 of the 27 points, whereas, out of the remaining 13 points, implementation on 11 points had been partially completed.
The minister said international observers used to criticize Pakistan for not doing enough to tackle money laundering and anti-terror financing. However, that changed during the past year, and the global community is now recognizing the country.
Talking about the recently launched construction package, Azhar said that its results were already being felt in the country's economy, adding that construction in the country would speed up after the monsoon season.
Referring to the Pakistan Steel Mills, he said that PSM was given Rs35bn in salaries over the past five years and bailout packages worth Rs80bn were given as well. “It went from recording profits to losses and currently owes Rs236bn," he said.
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