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Pakistan will soon come off FATF's grey list, says Ayesha Ghaus Pasha

Pakistan will soon come off FATF's grey list, says Ayesha Ghaus Pasha
June 17, 2022 Web Desk

ISLAMABAD (92 News) - State Minister for Finance Ayesha Ghaus Pasha said that Pakistan will soon make an exit from the grey list of the Financial Action Task Force (FATF).

Taking to the media on Friday, she said that the FATA team would soon visit Pakistan. "The government has worked hard on the conditions of the IMF. The government has shown progress on all conditions of the FATF," he added.

Ayesha Ghaus Pasha said that the FATF had no only technical things, but it includes several diplomatic ones.

She said that the government is also making progress with the FATF at the diplomatic level.

Pakistan was added to the grey list in 2018 and was given a list of actions to be completed. In a review held in March 2022, the FATF retained the country on the list, saying Pakistan has 'made significant progress in fulfilling its recommendations.'

Pakistan has so far completed 26 of the 27 recommendations made by the FATF in 2018, and six of the seven points given by the Asia Pacific Group (APG) in 2021, ahead of time.

The two remaining recommendations include the introduction of legal action against terrorist organizations and strict measures against money laundering.

Meanwhile, Pakistan has launched a massive diplomatic effort to get off the FATF grey list. Pakistan needs the votes of Turkey, China, and Malaysia to get off the list, and all three countries have assured the Pakistani authorities of full support for the purpose.

Pakistan has implemented almost all points of the FATF Action Plan, except for the penalties, and Pakistan has made prosecutions and all relevant legal amendments in this regard.