Wednesday, June 23, 2021
Foreign Minister Shah Mahmood Qureshi on Wednesday said there was no longer any justification to keep Pakistan on the grey list as the country had fulfilled 26 out of 27 action items of the Financial Action Task Force (FATF).
In a statement — two days after FATF's five-day virtual meeting began in Paris — the foreign minister said that Pakistan had fulfilled the anti-money laundering watchdog's maximum technical requirements.
FATF will make its findings public on June 25.
Qureshi said India is making attempts to misuse the forum for political purposes, as it has indulged in continuous anti-Pakistan propaganda. "Pakistan has taken concrete steps to curb money-laundering and terrorist financing."
He pointed out that Pakistan “inherited” the problem of the FATF grey-listing from the previous regime, however, the incumbent government has done its best to bring the country out of it.
The foreign minister said the world was acknowledging Pakistan’s efforts in the implementation of the FATF Action Plan.
The steps taken by Pakistan include the promulgation of strict laws against money laundering, freezing of assets, and filing of cases against banned organisations.
Resultantly, the Asia Pacific Group on Money Laundering improved Pakistan’s rating against money laundering and terror financing. Moreover, the Pakistan European Union Joint Commission had also welcomed the country's progress in the implementation of FATF points.
On June 18, Foreign Office spokesman Zahid Hafeez Chaudhri had reaffirmed Pakistan's commitment to further strengthening its AML/CFT regime without prejudging the outcome of the upcoming plenary meeting of the FATF.
“As you are aware, Pakistan has made significant strides during the implementation of the Action Plan through concerted national efforts. The tremendous progress made by Pakistan leading towards the conclusion of the Action Plan has been acknowledged by the FATF as well as the larger international community,” said the spokesman.