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Business & Finance

FATF Plenary: PTI leader says decision on Pakistan's status to be taken in March

  • She said that the FATF meeting to be held today (Friday) would not decide regarding Pakistan's grey list status, the decision to keep Pakistan on the grey list or be removed from it will be made in March next year, in the final session.
23 Oct 2020

Pakistan Tehreek-e- Insaf (PTI) leader Andleeb Abbas has said that the Financial Action Task Fork (FATF) ongoing plenary will not make any decision regarding Pakistan's ‘grey list’ status.

The plenary meeting of the FATF is taking place from October 21-23, however, the MNA from the ruling party while talking to Aaj News, said that the FATF meeting to be held today (Friday) would not decide regarding Pakistan's grey list status, the decision to keep Pakistan on the grey list or be removed from it will be made in March next year, in the final session.

She informed that in the ongoing session, FATF would evaluate Pakistan’s performance, whether the country has completed the list of tasks assigned if the recommendations are not completed then the FATF would recommend Pakistan to get ‘blacklisted’, and if completed then they will decide about Pakistan’s status in a final session that will be held in March.

It is pertinent to inform that the FATF put Pakistan on its list in 2018, even before this, Pakistan has been part of the list from 2013 to 2016 but was removed from the list due to the country's satisfactory performance.

Pakistan got a four-month period from the FATF in February 2020, to complete a 27-point action plan against money laundering and terror financing after noting that Pakistan has delivered on 14 points but missed 13 other targets.