The international terror financing watchdog FATF has decided to keep Pakistan on its ‘Grey’ list for failure to curb funnelling of funds to groups LeT, JeM and others and has given a September deadline to compile with its 27-point action plan, sources here said.
The Financial Action Task Force (FATF), which concluded itsweek-long meeting in Florida in the US, also asked Pakistan to take credible,verifiable, irreversible and sustainable measures to address global concernsrelated to terrorism and terrorist financing emanating from the territory underits control.
“The FATF has decided to continue to keep Pakistan onits compliance document (i.E. Grey List) for its International Co-operationReview Group (ICRG) for its failure to complete the action plan items due inJanuary and May 2019,” an FATF spokesperson said in a statement.
The FATF continuing Pakistan in the ‘Grey’ list means itsdowngrading by IMF, World Bank, ADB, EU and also a reduction in risk rating byMoody’s, S&P and Fitch.
This will add to the financial problems of Pakistan, whichis seeking aid from all possible international avenues.The FATF said, “We expect Pakistan to takeall necessary steps to effectively implement the FATF Action Plan fully within the remainingtime frame i.E. By September 2019, in accordance with its political commitmentto the FATF and take credible, verifiable, irreversible and sustainablemeasures to address global concerns related to terrorism and terroristfinancing emanating from any territory under its control”.