In the online meeting held in Paris, the Financial Action Task Force (FATF) has decided to keep Pakistan on its gray list until the next review in February 2021. This is a big setback for the Imran government. At the meeting, Turkey tried to save Pakistan, but no country, including China, supported it. The United States, Britain, France and Germany are also not satisfied with Pakistan’s action against active terrorist groups.
The FATF said on Friday that the government of Pakistan failed to meet the 27 points given by the task force. This decision was taken after that. Pakistan was included in the gray list in June 2018. During the discussion, Turkey proposed that all members should consider the good work of Pakistan.
Pakistan needs to investigate terror funding: FATF
FATF Chairman Marcus Pleyer said that Pakistan needs to investigate the terror funding. Pakistan has completed 21 out of 27 points, which means that the world has become safe. But the remaining 6 points are very serious, which they still need to work on. The government should try to meet these points. The deadline to complete them is over. Pakistan has been asked to complete all plans by February 2021.
No member supported Turkey’s proposal:
None of the 38 FATF members supported Turkey’s proposal during the plenary session. These members also include Pakistan’s close allies China, Malaysia and Saudi Arabia. It became clear that currently, the FATF team will not conduct on-site visits in Pakistan. The task force decided to keep Pakistan in its gray list until the next review in February next year.
This decision of FATF will make it difficult for Pakistan to get financial support from the International Monetary Fund (IMF), the World Bank and the European Union. The country’s economy is already decaying. Not getting foreign help will worsen its condition.