ISLAMABAD:
While the FATF had asked Pakistan to ensure compliance with its protocols on combating money laundering and terror financing, the Government of Pakistan had initially failed to pass any legislation in line with the call of the Paris-based watchdog just because of the opposition’s non-cooperation. This would have meant harsh economic sanctions on Pakistan as well as difficulties in securing loans and aid from international organisations such as the IMF.
However, a joint session of parliament was convened on September 16 which passed three very important bills: the Anti-Money Laundering (Second Amendment) Bill; the Islamabad Capital Territory Waqf Properties Bill; and the Anti-Terrorism Act (Amendment) Bill, 2020. Considering that these bills were to help Pakistan out of the FATF grey list, they should have easily sailed through both houses of parliament. However, while these bills were okayed by the National Assembly, they were rejected by the opposition-dominated Senate. The government however did not give up. And in line with the Constitution, the President of Pakistan convened a joint session of the two houses of parliament to take up the three bills.
When the first bill was tabled, the opposition lawmakers tried to disrupt the proceedings so as stop it from being passed. But when the government went ahead with the legislation process, the opposition staged a walkout — something that tilted the quorum in favour of the government and hence the bill was passed. And the same way, the two other bills also got the parliament’s nod.
With the passage of the three bills, there are now bright chances that Pakistan will be rid of the FATF grey list, and the threat of economic sanctions will no more be there.
Published in The Express Tribune, Septe0mber 28th, 2020.
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