TIL Desk/World/Paris/The international terror financing watchdog, Financial Action Task Force, has decided to keep Pakistan on its ‘Grey’ list for failure to curb funnelling of funds to terror groups Lashkar-e-Taiba, Jaish-e-Mohammad and others and has given a September deadline to compile with its 27-point action plan, sources here said.
The FATF, which concluded its week-long meeting in Florida in the United States, also asked Pakistan to take credible, verifiable, irreversible and sustainable measures to address global concerns related to terrorism and terrorist financing emanating from the territory under its control.
“The FATF has decided to continue to keep Pakistan on its compliance document (i.e. Grey List) for its International Co-operation Review Group for its failure to complete the action plan items due in January and May 2019,” an FATF spokesperson said in a statement.
The FATF continuing Pakistan in the ‘Grey’ list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody’s, S&P and Fitch. This will add to the financial problems of Pakistan, which is seeking aid from all possible international avenues.
The FATF said, “We expect Pakistan to take all necessary steps to effectively implement the FATF Action Plan fully within the remaining time frame i.e. by September 2019, in accordance with its political commitment to the FATF and take credible, verifiable, irreversible and sustainable measures to address global concerns related to terrorism and terrorist financing emanating from any territory under its control”.
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