Minister for Economic Affairs Hammad Azhar has said that Pakistan is undergoing dual scrutiny at the Financial Action Task Force (FATF) platform, besides overwhelming majority of countries have positively acknowledged the significant progress made by Pakistan. The minister led Pakistani team to Paris for attending the FATF Plenary and Working Group meetings held in Paris from February 16 -21, 2020.
The minister took to Twitter on Saturday, saying that Pakistan has made significant progress at FATF in the last one year. 14 out of 27 action items of the International Co-operation Review Group (ICRG) Action Plan carry 'largely complete' status now. Overwhelming majority of countries have positively acknowledged the significant progress made by Pakistan.
"Pakistan is undergoing dual scrutiny at FATF platform. "Pak authorities are aiming to complete the ICRG action plan during 2020. And also working in parallel on the deficiencies of the APG MER for which we are currently in the observation period," he tweeted.
The FATF kept Pakistan on the grey list till June 2020 for complying with the remaining conditions of its 27-point action plan. According to the FATF official statement since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/CFT regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan's political commitment has led to progress in a number of areas in its action plan, including risk-based supervision and pursuing domestic and international cooperation to identify cash couriers.
Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.
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