Islamabad, October 23: In a setback to Pakistan, the Financial Action Task Force (FATF) on Friday in its virtual plenary meeting decided to keep the country in the grey list. The FATF decided to keep Pakistan in the grey list after the Imran Khan-led government failed to comply with all the 27 parameters of the world's top anti-terrorism monitoring organisation. FATF president Marcus Pleyer said that Pakistan had completed 21 parameters out of 27.
The FATF in a statement said, "To date, Pakistan has made progress across all action plan items & has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, FATF strongly urges Pakistan to swiftly complete its full action plan by Feb 2021,"
Pakistan was placed on the grey list in June 2018 for failing to take adequate measures against money laundering and terror financing. It was then given a 27-point action plan with a warning that failing to implement it would lead to its blacklisting. What is 'Dark Grey' List of FATF? Know About Essential Stage Where Pakistan Faces Risk of Being Blacklisted.
Pakistan won a three-month further extension to complete its 27-point action plan because of the coronavirus pandemic. The deadline was June this year, but the FATF extended it due to the postponement of its plenary. FATF Meeting: Pakistan Didn't Comply With 6 Important Points, Continues to Provide Safe Haven to Terrorists, Says India.
If Pakistan continues with the 'Grey' list or is put in 'Dark Grey' list, it would be very difficult for the country to get financial aid from the International Monetary Fund. Until now, Pakistan enjoyed an additional cushion as China, an ally, was holding the presidency. However, in July, Germanys Marcus Pleyer became the president of the FATF.
India, on Thursday, lashed out at Pakistan for terrorism as an instrument of diplomacy. At a media briefing, Spokesperson in the Ministry of External Affairs (MEA) Anurag Srivastava said Pakistan has addressed only 21 out of 27 "action items" prescribed by the FATF.
(The above story first appeared on LatestLY on Oct 23, 2020 07:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).