Press "Enter" to skip to content

FATF to rule harsher sanctions for Pakistan by Friday

The Financial Action Task Force (FATF) has examined measures taken by Pakistan to counter money laundering and terror funding during encounters underway in Paris and is expected to rule whether sanctions will be imposed on the nation by Friday.

A Pakistani delegation headed by economic events minister Hammad Azhar advised the encounters which Islamabad has made favorable progress in 20 from 27 points within an action strategy finalized from the intergovernmental watchdog. The FATF expressed satisfaction at the steps and also Pakistan’s progress in a variety of places, according to local press reports.

The reports also stated that assistance expanded by Turkey, China and Malaysia caused the FATF deciding to not include Pakistan on its own”blacklist”.

The FATF gave Pakistan additional time to execute outstanding measures, the reports included.

China, Turkey, and Malaysia also enjoyed the actions taken by Pakistan although some concerns have been raised about a tax amnesty scheme given by the authorities.

The FATF allegedly said Pakistan will have to take more measures in the subsequent four weeks to curb terror financing. The last decision on whether Pakistan is going to be set in the blacklist will be reached in February 2020, according to the media accounts.

An official statement about all improvements will be reached on Friday, the FATF has stated.

The Dawn newspaper reported that the spokesperson for the fund ministry, Omar Hameed Khan, didn’t affirm the press reports and just said an entire statement could be available on Friday.

Islamabad is not able to report its functionality to the APG every 3 months.