ISLAMABAD – Caretaker Prime Minister Justice (retd) Nasirul Mulk chaired a session of the high-profile National Security Committee (NSC) on Friday to discuss the Financial Action Task Force (FATF) meeting scheduled for later this month.
The session, attended by the country’s top civilian and military leadership, was briefed by interim Finance Minister Dr Shamshad Akhtar about preparations for the next FATF meeting; he informed the NSC about the legal and administrative measures of the FATF.
According to well-placed sources, the NSC expressed satisfaction at Pakistan’s preparations for the next FATF meeting and resolved to do what is needed to cooperate with the anti-money laundering task force.
The participants agreed that Pakistan was fulfilling its obligations at the international level, and expressed resolve to continue cooperating with global organisations to achieve mutual goals and interests.
The country’s internal and external situation was also discussed during the NSC meeting which was the first one under the chair of Nasirul Mulk. The NSC was briefed by military officials on the ongoing actions against terrorism and other measures being taken across Pakistan.
PM Mulk also briefed the committee on his recent telephonic conversation with US Vice President Mike Pence, who contacted him on Thursday to felicitate him on assuming the PM office; Pence also discussed other matters of strategic importance.
FATF Scare
Pakistan’s Foreign Office had confirmed that Pakistan will be placed on the grey, not the black, list of Financial Action Task Force (FATF) in June this year for failing to curb terror financing.
FO Spokesperson Dr Mohammad Faisal, for the first time, officially confirmed in March that Pakistan will be assigned to the ‘grey list’ in June, once an Action Plan has been mutually negotiated.
“The statement that Pakistan will be transferred from the ‘grey’ to the ‘black’ list in June this year, is therefore not true. The FATF website clearly demarcates the countries in ‘black’ list, as those who are non-cooperative,”Dr Faisal said.
https://en.dailypakistan.com.pk/headline/pakistan-survives-attempt-to-put-it-on-fatfs-grey-list/
The grey list is maintained for identifying countries, which fail to take appropriate steps to curb money-laundering and terror financing.
Replying to a question regarding specific demands made by FATF, He said: “It has highlighted certain deficiencies in the Anti-Money Laundering and Countering of Terrorist Financing (AML/CFT) framework of Pakistan”.
The Government of Pakistan, over the last few years, has taken a number of measures to address these issues, including thorough enactment of legislation, issuance of regulations and guidelines by SBP and SECP to the financial sector, establishment of the Financial Monitoring Unit and implementation of UNSC 1267 sanctions on the entities of concern (JuD/FIF)”.
The US moved a resolution in the FATF, seeking to put Pakistan on grey list for alleged inaction against to prevent terror financing, where banned militant outfits are involved in raising funds. The resolution was also co-sponsored by Germany, France, and Britain.
In a recent six-day long plenary session of the international watchdog took up the resolution but it was reprieved for three months, until June.
