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Pakistan maintains its position in FATF grey list till June

Pakistan maintains its position in FATF grey list till June
March 5, 2022 Web Desk

ISLAMABAD (92 News) - Financial Action Task Force has recognized Pakistan's continuing commitment to a sustainable and robust anti money laundering and combating the financing of terrorism frameworks.

Its plenary meetings was held in hybrid format. Pakistani delegation was led by Minister for Energy Hammad Azhar.

Pakistan presented its case in an effetive manner and also reaffirmed its political commitment to continue with the efforts to complete the action plans.

As regards 2018 Action Plan, Pakistan has already completed twenty six of the twenty seven Action Plan items while there was recognition by the FATF that Pakistan has made significant progress towards addressing the last remaining action item.

The FATF encouraged Pakistan to continue to make progress to address as soon as possible the remaining one item.

As regards 2021 Action Plan, Pakistan has made swift progress. In just two plenary cycles, Pakistan has completed six out of seven action items.

A statement issued by the Finance Ministry reiterated Pakistan's commitment to take all necessary measures to ensure completion of remaining two Action Plan Items during the upcoming FATF plenary cycle to become eligible for exiting from the grey list.

Meanwhile in his tweets, Minister for Energy Hammad Azhar said despite challenges, Pakistan completion of FATF's technical parameters shall be acknowledged soon.

The Minister expressed Pakistan's unwavering commitment against money laundering and terror financing. He said the country has waged a war on these activities not just for global compliance but first and foremost for its own sake.