Pakistan expresses deep concern over Indian minister’s statement on FATF

ISLAMABAD (92 News) – Pakistan has expressed its deep concern over the statement made by Indian Finance Minister Arun Jaitley about India's intention to have Pakistan downgraded on the Financial Action Task Force (FATF) list. In a statement, the Foreign Office said Indian account re-confirms Pakistan's longstanding concerns that this technical forum is being politicized by India against Pakistan. It said India has made several efforts in the past as well to politicize the proceedings at FATF. Prior to FATF plenary meeting in February this year, India circulated its own assessment of Pakistan's progress and solicited immediate support for blacklisting the country. On several previous occasions, calculated leaks were made to the Indian media about the proceedings of FATF, which are strictly confidential. The FO statement further said these instances of politicization by India were brought to the attention of the President of FATF by the Finance Minister of Pakistan. It added that India's attempts to politicize the proceedings in FATF against Pakistan call into question its credentials for co-chairing and being a member of the Asia Pacific Joint Group that reviews the progress made by Pakistan to implement the FATF Action Plan. The statement said Pakistan remains committed to fully implementing the FATF Action Plan and this commitment has been made at the highest political level. However, the FATF must ensure that the process remains fair, unbiased and firmly grounded in the technical criteria of the forum.

Govt decides to make ‘gold control authority’ on FATF’s demand

Taking an important decision, the Pakistan Tehreek-e-Insaf (PTI) government had decided to make “gold control authority” on the demand of the Financial Action Task Force (FATF). According to the report, the federal government declared compulsory for gold purchaser to register the record into documents. It said that the gold control authority will control the trade of gold across country. It is worth mentioning her that the FATF has asked Pakistan to implement a new set of constraints in the country’s crackdown against terror financing, including documenting and regulating all gold markets.