Pakistan’s Foreign Minister Shah Mahmood Qureshi questioned the FATF’s decision, saying whether the institution is being used for political purposes?
Pakistan Foreign Minister Shah Mahmood Qureshi
Pakistan’s Foreign Minister Shah Mahmood Qureshi on Saturday questioned the decision of the Financial Action Task Force (FATF) to continue Pakistan on the ‘Surveillance List’, which is called the ‘Grey List’. Also known as List). This decision has been taken after implementing 26 out of 27 points included in the original action plan.
According to a report in Radio Pakistan, Qureshi said in a statement that there is no scope to keep Pakistan in the gray list as it has implemented almost the entire action plan. The Pakistani foreign minister said it needed to be seen whether the FATF was being used “for political purposes”. He said that, ‘Some powers wish to hang the sword of FATF on Pakistan.’
Pakistan wants to stop money laundering
The statement quoted him as saying that it is not yet known whether the FATF was a technical forum or a political forum. Qureshi said whatever steps Pakistan has taken is in its own interest and emphasized that it is in Pakistan’s interest to stop money laundering and terrorism financing.
According to the estimates of the Government of Pakistan, the country is losing about 10 billion dollars every year due to inclusion in the gray list of FATF. Most of the people who have been included in the list of international terrorists by the United Nations, live in this country. Joining the UN Terror List leads to the confiscation of terrorist assets, a ban on travel and weapons.
Pakistan failed on 27 point action
Pakistan had approved laws like Counter Terror Financing (CTF) and Anti Money Laundering (AML) last month to get out of the gray list of FATF. A 27-point action plan was prepared for Pakistan. Which it has completely failed to implement. Earlier this month, the agency submitted its second report on Pakistan’s work. In which it was said that Pakistan has not met all the criteria.
In total, Pakistan has fully complied with 7 recommendations. Whereas on 24 he is working to a great extent. It is partially following seven recommendations out of a total of 40. While two were not complied with. According to Pakistani media reports, overall 31 out of 40 recommendations are being complied with.
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