FATF removes Pakistan from grey list

• Hina Khar said every country including the United States appreciated Pakistan’s efforts and achievements regarding the FATF requirements.
• She said Pakistan ensured implementation of all the measures regarding the FATF.
• “This would not have been possible without the complete national consensus,” she said adding that all the institutions contributed in this regard.

ISLAMABAD: The Financial Action Task Force (FATF) has removed Pakistan from grey list, Bol News reported.

Minister of State for Foreign Affairs Hina Rabbani Khar officially made an announcement in this regard in a press conference from Paris.

“This would not have been possible without the complete national consensus across the political spectrum,” she said adding that all the institutions contributed in this regard. It showed that if we worked together we could make an impossible thing possible, she said. “This means that now people could invest in the country without thinking twice about it,” she said.

Hina Khar said every country including the United States appreciated Pakistan’s efforts and achievements regarding the task force’s requirements. She said Pakistan ensured implementation of all the measures regarding the FATF.

She said Pakistan implemented the 34-point FATF demands timely and in a better way. Pakistan would continue working with the Asia Pacific Group, she maintained.

The state minister said Pakistan resolved to continue its journey in the same direction. She said diplomatically as well, it was a gigantic achievement.

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She admitted that Pakistan made all the legal and institutional reforms during the last four years. “We will improve our efforts and continue cooperation with the FATF. Our national FATF team worked hard day and night and made it possible,” she said.

To a question, she said Pakistan was definitely looking forward to seeking FATF membership.

Pakistan Tehreek e Insaf (PTI) leader Farrukh Habib said Pakistan was put into the grey list during the Pakistan Muslim League-N (PML-N) tenure, while former prime minister Imran Khan fulfilled all the requirements of the FATF and saved it from being placed into the black list.

Few days ago, Finance Minister Ishaq Dar, during his visit to America, had expressed the hope that Pakistan name will be removed from gray list of the global dirty money watchdog.

He also said that Pakistan has worked hard for this purpose and the government hopes that this time Pakistan name will be removed from FATF’s gray list.

It should be noted that Pakistan was put in the gray list by FATF in 2018 during Muslim League (N) government and at the same time an action plan was given to implement 27 points and later another 7 point added it.

Pakistan has fully complied with both FATF action plans while implementing 34 points under two different action plans.

To review the implementation of these points, the dirty money watchdog team visited Pakistan from August 29 to September 3 and also met with Prime Minister as well as other  authorities concerned.  The FATF technical team went back satisfied.

Officials said that Pakistan had fulfilled all the conditions to stop money laundering and terrorist financing.

It should be noted that the Financial Action Task Force (FATF), which is a global watchdog on money laundering and terrorist financing.