Editorial

Grey list, but why?

The good point is that Pakistan is complying, and has every intention to come out of the woods

October 23, 2021

Pakistan should ‘do more’ is the mantra of the international financial regulator. The Paris-based anti-money laundering arm, FATF, believes that Pakistan be retained on the grey list, and put under increased monitoring. Islamabad has made great strides in implementing the 2021 action plan by addressing four out of the seven new items. Yet, the point of concern remains investigation and prosecution of money-laundering cases, confiscation of assets and UN listing of the terror accused. This roller-coaster drive since June 2018 is too demanding, to say the least, and the goodwill on part of Pakistan hasn’t been appreciated in realising two concurrent action plans simultaneously.

FATF President Dr Marcus Pleyer, however, says that the entire process of scrutiny and assessment is on technical parameters, and there is no element of bias in it. But some of the demands are unrealistic in essence, such as relying on Pakistan to tame some of the militant and proscribed outfits that are out of its de jure reach. How can Islamabad prevail over Tehrik-e-Taliban Afghanistan, Al Qaeda and ISIS, and many of their affiliates who are on the run and do not maintain books with any accredited institution in Pakistan? Still Pakistan is doing all it can to extend the scanner of investigation, as well as prosecution of senior leaders and commanders of UN-designated terror groups.

The good point is that Pakistan is complying, and has every intention to come out of the woods. Federal Minister Hammad Azhar hopes Pakistan would complete the required process in a couple of months, and stand out uprightly. Reports testify Pakistan has smartly put its house in order, convicted more than 150 people in money-laundering, and come down hard on terror financing channels — an aspect acknowledged by FATF and international donors. This progression was more than enough to take it off the grey list, but it seems perceptual enigmas prevail at times. FATF members must recognise that Pakistan officially calls for acting against flight of capital, and advocates a mechanism to curb such a tendency. Pushing Pakistan to the wall with a hidden agenda is regrettable. FATF should take note of its loud thinking.

Published in The Express Tribune, October 23^rd, 2021.

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COMMENTS (2)

Jahan Zaib Ahmed | 3 years ago | Reply I think that Pakistan need to work on making it s stance clear to the World by reaching out to the global community and Show the World that it has done more than enough to get out of the unjust jurisdiction of FATF

Raj | 3 years ago | Reply You have purposefully omitted to mention other UN listed terrorists and entities such as Hafeez saeed JuD LeT Masood azhar HuM etc. because Pakistan want to keep them as their tool to conduct terror activities in India. This is the very basic reason why pakistan is in the FATF grey list still. As long as you refuse to accept this reality any amount of so called Efforts is useless to convince the FATF. The world is concerend about the terorrism emanting from Pak soil. So it is not INdia s decision to keep Pak in the FATF grey list it is is the world s decision to keep pak in the grey list. Why should the world appreciate pakistan for NOT TAKING action against UN Listeed terorirsts. IT is very foolish to expect that the world will support pakistna to conduct terorr actitivites in India and the world. SO there is no way out except that pakistan MUST ABANDON its support to terrorism.

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