Search

FATF to review Pakistan's performance in crucial meeting this week

Web Desk 12:06 PM | 16 Feb, 2020
FATF to review Pakistan's performance in crucial meeting this week

PARIS - A six-day meeting of the Financial Action Task Force (FATF) is set to begin today (Feb 16) in Paris wherein Pakistan's compliance on 27-point action plan about curbing illicit terror financing in money laundering will be reviewed. 

More than 800 representatives from 205 countries and jurisdictions around the world, the IMF, UN, World Bank and other organisations, will attend the meeting.

A Pakistani delegation will present the compliance report and it is expected that the country would not be put on the blacklist due to its action against the financial crimes.

Last year in October, the Paris-based organisation had given a final deadline to Pakistan to plug the loopholes in the financial system in order to avoid blacklisting. It had announced that the country will remain on grey list till February 2020. 

In its official statement, the global watchdog had admitted the progress made by Pakistan to curb money laundering and terror financing.

However, it had also strongly urged “Pakistan to swiftly complete its full action plan by February 2020. Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action”.

A Pakistani delegation headed by Economic Affairs Minister Hammad Azhar had attended the meeting where it presented FATF a compliance report of Pakistan on a previously agreed action plan.

At the 2029 plenary, “Pakistan reiterated its political commitment to completing its action plan and implementing AML/CFT reforms,” read the statement.

In 2018, Pakistan had been put on a grey list of countries responsible for terror-financing last year, giving Islamabad with a 27-point action plan to take strict anti-money laundering steps.

Placing a country on blacklist usually results in economic sanctions and trade penalties imposed and implemented by the G-7 countries. No sanctions are placed on a grey-listed country.

Web Desk
Web Desk

Daily Pakistan Global Web Desk

Advertisement

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 4, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 279.9 283.2
Euro EUR 300.98 301.58
UK Pound Sterling GBP 337.01 337.71
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 189 192
Bahrain Dinar BHD 712.72 720.69
Canadian Dollar CAD 200 202.2
China Yuan CNY 39.67 39.73
Danish Krone DKK 39.33 39.73
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 878 887
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.79 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.30

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,200 on Saturday. The price of 10 grams of 24k gold was recorded at Rs175,930.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,200 PKR 2,430
Karachi PKR 205,200 PKR 2,430
Islamabad PKR 205,200 PKR 2,430
Peshawar PKR 205,200 PKR 2,430
Quetta PKR 205,200 PKR 2,430
Sialkot PKR 205,200 PKR 2,430
Attock PKR 205,200 PKR 2,430
Gujranwala PKR 205,200 PKR 2,430
Jehlum PKR 205,200 PKR 2,430
Multan PKR 205,200 PKR 2,430
Bahawalpur PKR 205,200 PKR 2,430
Gujrat PKR 205,200 PKR 2,430
Nawabshah PKR 205,200 PKR 2,430
Chakwal PKR 205,200 PKR 2,430
Hyderabad PKR 205,200 PKR 2,430
Nowshehra PKR 205,200 PKR 2,430
Sargodha PKR 205,200 PKR 2,430
Faisalabad PKR 205,200 PKR 2,430
Mirpur PKR 205,200 PKR 2,430

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter