KARACHI:
Pakistan yet again remains on the FATF grey list despite a 96% compliance rate on the points of action that were assigned. The FATF taskforce has yet again urged Pakistan to do more by providing another action plan for money laundering. Pakistan has completed 26 points out of 27, and it was hoped that the country would be out of the grey list. However, it seems that FATF is not likely to put Pakistan on the white list till next year. In this regard, the FATF should have been a bit flexible. Considering the achievements of Pakistan, they should have provided us with time till the next session in October for completion.
Moreover, after showing compliance on 26 points, Pakistan should have been moved to the white list on a conditional basis so that the second action plan could be done effectively. However, Pakistan has been handed another 7-point action plan to comply with as a deadlock with IMF over meeting its loan programme conditions still persists.
Zohaib Ahmed
Hub
Published in The Express Tribune, June 27th, 2021.
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