China has rejected Indian media reports about any shift in China’s position and said that the Chinese side had always backed Pakistan at the Financial Action Task Force (FATF).
Chinese Foreign Ministry Spokesperson Geng Shuang said during his online briefing “China’s position on the relevant issue remains unchanged.”
Chinese official said Pakistan had made enormous efforts in improving its counter-terror financing system, which had been recognized by the vast majority of FATF members at its latest plenary meeting concluded on February 20 in Paris.
“It was decided at the meeting that Pakistan will be allowed more time to continue implementing its action plan”,he added.
He said that China maintained that the purpose and aim of the FATF was to support countries efforts to strengthen institutions against money laundering and terror financing and safeguard international financing system.
“We stand ready to work with relevant parties to offer more assistance to Pakistan in this area”, he added.
It may be mentioned that Indian media reported on February 20 that China had agreed to join India and other countries in sending a strong message to Pakistan and urging it to fulfill commitment to fight terror financing and money laundering before the plenary session in June.
The report claimed that this symbolized a major shift in China’s position since it had been a staunch supporter for Pakistan within the Financial Action Task Force (FATF).
The negotiations between Pakistan and the FATF have been completed, the announcement will be made today, which suggests that Pakistan is likely to remain on the gray list until June.
According to the Finance Ministry, Pakistan has assured the implementation of the FATF recommendations.
The member countries also lauded Pakistani initiatives in preventing money laundering and terror funding.
In light of the performance Pakistan will be given more time to process the recommendations, Pakistan has implemented 14 of the 27 points of the FATF, while 13 points have yet to be implemented.