AVN 72.11 Increased By ▲ 0.69 (0.97%)
BOP 9.04 Increased By ▲ 0.02 (0.22%)
CHCC 136.40 Increased By ▲ 0.23 (0.17%)
DCL 9.75 Increased By ▲ 0.08 (0.83%)
DGKC 106.74 Decreased By ▼ -0.06 (-0.06%)
EFERT 61.40 Decreased By ▼ -0.09 (-0.15%)
EPCL 45.64 Increased By ▲ 0.34 (0.75%)
FCCL 21.46 Decreased By ▼ -0.02 (-0.09%)
FFL 15.10 No Change ▼ 0.00 (0%)
HASCOL 15.26 Increased By ▲ 0.10 (0.66%)
HBL 129.98 Decreased By ▼ -0.13 (-0.1%)
HUBC 84.54 Decreased By ▼ -0.01 (-0.01%)
HUMNL 6.04 No Change ▼ 0.00 (0%)
JSCL 28.37 Decreased By ▼ -0.13 (-0.46%)
KAPCO 28.62 Increased By ▲ 0.02 (0.07%)
KEL 3.69 Increased By ▲ 0.03 (0.82%)
LOTCHEM 13.20 Increased By ▲ 0.04 (0.3%)
MLCF 40.95 Decreased By ▼ -0.02 (-0.05%)
OGDC 102.95 Increased By ▲ 0.05 (0.05%)
PAEL 34.70 No Change ▼ 0.00 (0%)
PIBTL 12.83 Decreased By ▼ -0.02 (-0.16%)
PIOC 95.43 No Change ▼ 0.00 (0%)
POWER 9.70 No Change ▼ 0.00 (0%)
PPL 92.83 Increased By ▲ 0.01 (0.01%)
PSO 206.80 Increased By ▲ 0.04 (0.02%)
SNGP 44.23 Decreased By ▼ -0.07 (-0.16%)
STPL 16.00 Decreased By ▼ -0.25 (-1.54%)
TRG 72.95 Decreased By ▼ -0.36 (-0.49%)
UNITY 27.36 Increased By ▲ 0.05 (0.18%)
WTL 1.10 Increased By ▲ 0.05 (4.76%)
BR100 4,399 Increased By ▲ 24.17 (0.55%)
BR30 22,249 Increased By ▲ 134.76 (0.61%)
KSE100 42,207 Increased By ▲ 159.28 (0.38%)
KSE30 17,683 Increased By ▲ 17.86 (0.1%)
Business & Finance

FATF Plenary: Pakistan’s legal efforts hailed as ‘role model’ for others, says Azhar

  • The Paris-based money laundering and terror financing watchdog, while noting Pakistan had fulfilled 21 of the 27 conditions required, gave the country until Feb 2021 to complete the remaining conditions while retaining Pakistan on its grey list.
Updated 27 Oct 2020

The Federal Minister for Industries and Production Hammad Azhar said that the Financial Action Task Force's (FATF) hailed Pakistan legal effort as a 'role model' for other countries to follow during its recently concluded plenary.

Taking to Twitter, the minister who led the Pakistani delegation to the virtual plenary said that the interplay of two evaluations and requirements of laws was discussed in detail during parliamentary committee meetings and the government is now focusing on the implementation of these laws for effectiveness evaluation planned ahead.

The Paris-based money laundering and terror financing watchdog, while noting Pakistan had fulfilled 21 of the 27 conditions required, gave the country until Feb 2021 to complete the remaining conditions while retaining Pakistan on its grey list.

FATF president Marcus Pleyer while addressing a press conference via video-link has said on Friday once Pakistan completes all 27 action points, the agency officials will visit to witness the ground situation.

Azhar said that Pakistan is undergoing two action plans at FATF. “One being the most challenging & comprehensive ever given to any country,” he said.

The minister said that the laws passed through parliament focus on both October evaluation and upcoming evaluation planned mid next year. “These laws reflect clearance of back log of last 10 years,” he added.

Earlier, the industries minister, said "Blacklisting Pakistan was now off the table." He observed some circles were propagating "false and baseless information about abstention or negative voting in the meeting".

Clearing the air, the minister said no voting criterion was applied for the decision.