Business Recorder (12/02/2020) -
- “We look forward to acknowledgement of significant progress that Pakistan authorities have made," says Azhar.
- The FATF's five-day plenary session begins in Paris from February 16.
Federal Minister for Economic Affairs, Hammad Azhar has stressed that his team remains committed to complete Pakistan's Financial Action Task Force (FATF) Action Plan, as the intergovernmental organization, reviews Pakistan's measures at the meeting that begins on February 16.
“Pakistan remains committed to the earliest completion of its FATF Action Plan," said Azhar in a tweet post.
The minister added that the FATF Plenary is a technical process. “Irrespective of and without speculating on any final decision at the plenary, we look forward to acknowledgement of significant progress that Pakistan authorities have made," he said.
The FATF's five-day plenary session begins in Paris from February 16. As per details, it will be decided at the meeting whether Pakistan will remain on the grey list or will leave it.
Reports indicate that despite the opposition by the rival neighbor India during the FATF meeting in Beijing last year, the United States, the European Union, has supported Pakistan for its measures taken to counter anti-money laundering and terror financing.
Meanwhile, Pakistan already enjoys a strong support from neighboring China, and friendly countries namely Turkey and Malaysia. On a back of a strong diplomatic campaign, Pakistan is optimistic to garner support from more countries, as the country needs 12 out of 39 votes to exit the grey list and enter the white list.
Pakistan was cleared of 14 points out of 27 at the Asia Pacific Group meeting held in Beijing, China from January 21 to January 23. The Pakistani delegation lead by Azhar succeeded in convincing FATF that the bank accounts of nine terrorist organizations, including several Taliban leaders have been frozen.
FATF added Pakistan to the grey list in June 2018. After that, Pakistan ensured implementation of most points and action plans.
Read more at https://www.brecorder.com/2020/02/12/570322/pakistan-committed-to-complete-fatf-action-plan-says-azhar-as-plenary-nears/