Pakistan will complete remaining item on FATF's action plan in 3-4 months: Hammad Azhar

Islamabad: Minister for Energy Hammad Azhar said on Friday that Pakistan will address the one remaining point on Financial Action Task Force's (FATF) action plan in the coming three to four months, adding that the other 7 points raised by the Asia-Pacific Group's (APG) Mutual Evaluation Report (MER) will be complete in the next 12 months.

Following the FATF's announcement to keep Pakistan on the grey list, Azhar said the organisation has "lauded Pakistan’s performance," and there is no risk of the country going to the blacklist.

Addressing the press conference on Friday, Azhar said that “Pakistan has not come out of the grey list yet as more work needs to be done”.

Answering a question on Pakistan’s performance on the 2018 action plan, Azhar said Pakistan has completed 75 out of 82 action points.

FATF President Dr Marcus Pleyer said earlier that Islamabad has largely addressed 26 of 27 items on FATF’s action plan.

Pakistan to stay on FATF’s ‘grey list’

Azhar further added that Pakistan was given one of the toughest plans by the FATF and "we should be proud of the work done so far".

“FATF has given Pakistan a new action plan in addition to the plan we are already working on,” he explained.

Addressing the significance of the new 7-point action plan to tackle money-laundering, Azhar said “it is important to address the new action plan to come out of the grey-list.”

When asked about FATF’s potential politicisation by countries like India, he said FATF claims to be an organization that focuses on technical issues and does not pay attention to such issues.

However, he acknowledged that India has been trying to influence the forum, but has not been able to impact Pakistan’s case.

“India with its politicisation efforts has only exposed itself,” Azhar said.

Describing Pakistan’s efforts to counter India’s propaganda at FATF, he said “we have been discussing the issue with FATF's staff.”

“India, with its questionable actions at the forum, has lost credibility and FATF is aware of that,” he emphasised.