Pakistan will be excluded from FATF grey-list: China

China is positive that Pakistan will be excluded from the Financial Action Task Force (FATF) grey list of countries under strict surveillance.

Pakistan FATF

China on Thursday exhibited confidence over Pakistan’s very probable exit from being included in the list of nations that are under strict surveillance by the Financial Action Task Force (FATF).

Chinese Ambassador Yao Jing during a meeting with the Adviser to the Prime Minister on Finance and Revenue Hafeez Shaikh was positive of Pakistan’s exit from the grey list. “FATF’s October review will go well for Pakistan,” Jing said.

Pakistan must comply with all 27 stated conditions to exit FATF grey list

The two year old government must make laws regarding terror financing and money laundering part of the constitution in order to exit the grey list of the FATF. Pakistan was placed in the FATF’s grey list in June of 2018 with 27 conditions placed for review for complying in one year till September of last year. Pakistan has received three extensions each of three months time to complay with the 27 conditions placed.

Read more: Is FATF a tool reflecting US, UK hypocrisy?

Pakistan has been declared fully compliant on 14 of the 27 conditions and is expected to comply to the remaining 13 points by September/October of 2020 to ensure its exit from the grey list.

China is investing upwards of $60 billion in projects under the China-Pakistan Economic Corridor (CPEC), which is crucial to China’s road-belt vision to expand Chinese businesses around the globe. “CPEC is a project that is an inspiration for the rest of the world,” the Chinese envoy said.

The adviser appreciated the commitment with which Jing worked for the progress of the Pakistan-China relationship. The adviser acknowledged the contributions of ambassador Jing and China’s leadership for Pakistan and expressed hope that his predecessor would work on the same lines.

Read more: PTI leaders swing into action to obtain opposition approval for crucial FATF-related bill

The adviser thanked Jing for commitment to strengthening the Pakistan-China relationship further, as he acknowledged ambassador Jing’s and China’s immense contributions towards helping Pakistan.

GVS News Desk with additional input by other sources

Facebook Comments

blank