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Saturday, April 13, 2024

Who deserves credit for Pakistan’s exit from FATF grey list?

Pakistan's exit from the grey list is a major achievement. As a result, political parties in Pakistan have started celebrating this decision and every party is claiming credit for this success.

The Financial Action Task Force (FATF) finally removed Pakistan from its notorious grey list. This is a major development as Pakistan had been on the list for four long years.

FATF has decided by consensus that Pakistan has completed all substantial, technical, and procedural requirements of both the 2018 and 2021 Action Plans. As a result, Pakistan has been taken off the list of jurisdictions under increased monitoring, with immediate effect.

As this is a major achievement, political parties in Pakistan have started celebrating this decision and every party is claiming credit for this success.

PML-N leader and Finance Minister Ishaq Dar congratulated the nation and lauded the efforts of the civil-military team under the leadership of Prime Minister Shehbaz Sharif.

Read more: FATF: A politically propelled financial enforcer

Heartiest congratulations to the nation on the removal of Pakistan’s name today from the FATF’s grey list. Efforts of the civil-military team under the leadership of Pakistan in achieving this goal are highly commendable,” Ishaq Dar tweeted.

Similarly, PML-N leader and Information Minister Marriyum Aurangzeb also credited PML-N for Pakistan’s exit from FATF. Taking to Twitter, she said it was a proud moment for the whole nation and the coalition government as the country had exited from the Financial Action Task Force’s (FATF) grey list. Marriyum Aurangzeb also said it was the second time that Pakistan’s name was removed from the grey list under the leadership of PML-N.

The Federal Minister then congratulated Prime Minister Shehbaz Sharif and Foreign Minister Bilawal Bhutto especially for accomplishing the feat in six months which could not be achieved in the last four years.

PTI government’s role

While the PML-N government made commendable diplomatic efforts toward the end by holding meetings, the majority of the credit goes to the previous government led by PTI Chairman and former Prime Minister Imran Khan, under whose leadership, FATF’s action plans for Pakistan were completed. In fact, the latest “grey-listing” happened in Feb 2018 when the PML-N was in power.

Imran Khan during his premiership, formed a FATF Coordination Committee, headed by Hammad Azhar, that further comprised representatives from all government departments as well as from security agencies.

Different bills were introduced in the Parliament against money laundering which were strongly ostracized by the erstwhile opposition parties and they did not agree to vote in support of those bills. PPP and PML-N had made a coalition as PDM (Pakistan Democratic Movement) and voted unanimously against the money laundering bills.

Read more: How Pakistan successfully implemented FATF’s Action Plan?