Pakistan remains on FATF grey list until June
FATF President Dr Marcus Pleyer addresses virtual press conference in Paris.
The Financial Action Task Force (FATF) on Thursday decided to keep Pakistan on its grey list until June 2021.
FATF President Dr Marcus Pleyer announced the decision at a press briefing from Paris on the outcomes of the FATF's four-day virtual plenary meeting.
"Pakistan remains under increased monitoring," Pleyer said, adding that while Islamabad had made significant progress, there remained serious deficiencies in mechanisms to plug terrorism financing.
The FATF president noted that Pakistan was working towards its commitment made at a high level to implement the illicit financing watchdog's recommendations, saying "that is not the time to put a country on the blacklist".
He added that as soon as Pakistan completed the action, the watchdog "will verify the sustainability of the reforms and discuss in next plenary in June."
In a series of tweets on Thursday, Federal Minister Hammad Azhar said that Pakistan completed almost 90pc of its current FATF action-plan with 24 out of 27 items rated as 'largely addressed' and remaining 3 items 'partially addressed'.
Pakistan remains committed to complying with both FATF evaluation processes and I would like to commend the hard work done by dedicated teams in multiple govt depts at Federal & provincial tiers.— Hammad Azhar (@Hammad_Azhar) February 25, 2021
I will be holding a press briefing at 11.30 Am on this issue tomorrow InshAllah.