Pakistan can be taken off FATF’s list with ‘adequate’ measures: FO

Islamabad: Pakistan can be taken off the Financial Action Task Force’s grey-list if adequate measures are taken to implement the action plan, Foreign Office spokesman said.

“We will have to execute the action plan while we are on the grey-list,” FO spokesperson Dr Mohammad Faisal said during a weekly press briefing in Islamabad. “If adequate measures are taken, we can be removed from the list,” he said. The spokesman, however, admitted Pakistan will be facing problems if it remains on the list.

Pakistan was added to the global money-laundering watchdog’s grey list after a FATF meeting in Paris on Wednesday. Presenting Pakistan’s case at the FATF talks at the meeting, Dr Shamshad Akhtar, the interim minister of finance and planning, apprised the global watchdog of the steps the country has taken to stem money laundering and terror financing, and put up a robust case for not placing its name on the grey-list.

During the crucial meeting, the Akhtar-led Pakistani delegation also spoke about Islamabad’s efforts against the banned outfits and various terrorist groups.

The Pakistani delegation’s case indicated that the nation has been working to curb financial assistance to terrorists, made existing laws better, and ensured improved implementation of the current regulations.

In compliance with the FATF’s recommendations, the Securities and Exchange Commission of Pakistan (SECP), on June 20, issued the Anti Money Laundering and Countering Financing of Terrorism Regulations, 2018.

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