| Welcome to Global Village Space

Wednesday, July 17, 2024

World is obsessed to keep Pakistan in FATF’s grey list: FM Shah Mehmood Qureshi

It is a political decision rather than a technical one to keep Pakistan on the FATF grey list. Shah Mehmood Qureshi points at some world powers that want to keep Pakistan on the increased monitoring list.

Foreign Minister Makhdoom Shah Mahmood Qureshi Saturday said that out of 27 technical items of Financial Action Task Force (FATF) action plan, Pakistan had already achieved 26 points whereas substantial progress was made on the remaining target.

In a press statement, the foreign minister expressed his wonder over the FATF decision of still keeping Pakistan in its grey list.

“In my view, under such situation, there is no need to keep Pakistan in the grey list,” he added.

Qureshi said it would be adjudged whether the FATF was a technical forum or political one and whether it was used for any political purposes.

The FATF itself admitted that Pakistan had achieved 26 points in the plan of action, he said, adding the country was committed to fully implement the remaining one.

“Some powers wanted FATF’s sword hanging on our heads,” he said.

He further categorically maintained that they had taken all the steps in their interests which included elimination of money laundering and financing of terrorism.

The foreign minister reiterated that Pakistan was committed to take steps which were in its interest.

Read more: Pakistan makes progress on 26 points out of the 27-point FATF Action Plan

The FATF in its meeting on Friday announced that Pakistan had largely complied with 26 of the 27 items on the action plan, but kept the country on the grey list, even after it addressed the sole remaining item. The decision had raised eyebrows and drew wider criticism in the country.

The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. e inter-governmental body sets international standards that aim to prevent these illegal activities and the harm they cause to society. As a policy-making body, the FATF works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

Courtesy: APP