New Delhi, March 26:  Pakistan's ambition to become a member of the prestigious Nuclear Suppliers Group (NSG) dealt a significant blow as US imposed sanctions on seven Pakistani companies for nuclear proliferation. The Nuclear Suppliers Group (NSG) is a group of nuclear supplier countries that seeks to contribute to the non-proliferation of nuclear weapons through the implementation of two sets of Guidelines for nuclear exports and nuclear-related exports. The sanctions were imposed by the US Department of Commerce (DoC) and it implies stringent export control measures on the seven Pakistani companies. The Financial Action Task Force, a terror financing watchdog, had put Pakistan on its watchlist.

"The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions.  The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.  The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas," as described on its website.

The list identifies entities “reasonably believed to be involved, or to pose a significant risk of being or becoming involved, in activities contrary to the national security or foreign policy interests of the United States” reported the express tribune. The names of the seven Pakistani companies which have sanctions on them are Akhtar & Munir, Proficient Engineers, Pervaiz Commercial Trading Co,  Engineering and Commercial Services, Marine Systems Pvt Ltd,  Mushko Electronics Pvt Ltd,  Solutions Engineering Pvt Ltd. There has been no official reaction on the issue from Pakistan so far.

(The above story first appeared on LatestLY on Mar 26, 2018 12:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website