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Pakistan

Qureshi questions decision to keep Pakistan on 'grey list'

  • Asks whether FATF is being used to achieve political objectives or is a technical organisation
Updated 26 Jun, 2021

Karachi: Following the Financial Action Task Force’s (FATF) decision to keep Pakistan on its increased monitoring list, also known as grey list, Foreign Minister Shah Mahmood has questioned whether the organisation is being used to achieve political objectives.

In a statement on Saturday, the foreign minister said that it needs to be determined whether FATF is a political forum or a technical body, and if it is being used to achieve political objectives.

Qureshi's statement comes after Friday's decision to keep Pakistan on the grey list, with instructions to work on one remaining action item on the FATF action plan, in addition to 6 points raised under the Asia Pacific Group's (APG) Mutual Evaluation Report (MER).

However, the foreign minister said Pakistan has made "significant progress on the 27th point as well", according to Aaj TV.

"If the task force is technical, then Pakistan was given 27 action items. Significant progress has been made on the 27th point and we intend to do more.

"In my view, in such a situation, there is no reason to keep Pakistan on the grey list," FM Qureshi said.

Pakistan to stay on FATF’s ‘grey list’

On Friday, the FATF said Pakistan needs to address the 'CFT (countering the financing of terrorism)-related item by demonstrating that TF (terror financing) investigations and prosecutions target senior leaders and commanders of UN designated terrorist groups'.

How much FATF grey-listing cost Pakistan’s economy?

When asked if it was going to be discouraging for Pakistan given that it completed 26 of the 27 items in the action plan, FATF President Marcus Pleyer said that it will be discouraging for other countries if they complete the entire action plan, adding that 'we treat all countries equally'.

Following the FATF's announcement, Minister for Energy Hammad Azhar said that Pakistan would complete the remaining item on the action plan in the next three to four months. With regards to the APG MER, Azhar said the points concerning money-laundering would be addressed in the next 12 months.

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