UPDATED: February 22, 2021 04:46 IST
Pakistan PM Imran Khan. The Paris-based Financial Action Task Force had placed Pakistan on the grey list in June 2018 (File photo)
Pakistan is unlikely to exit the grey list’ of the FATF as some European countries have taken the stand that Islamabad has not fully implemented all the points of a plan of action set by it, a media report said on Sunday, on the eve of the plenary meeting of the global watchdog for money laundering and terror financing.
The Paris-based Financial Action Task Force had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to COVID-19 pandemic.
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The Financial Action Task Force (FATF) is set to review Pakistan’s progress on its action plan when the body meets for its three-day plenary meeting, staring on February 22. The upcoming meeting is expected to make a final decision on whether to keep Pakistan on its grey list or move it out.
FATF has given Pakistan ample time to make progress on the action plan handed to the country. The country was placed on the grey list in June 2018 for failing to implement effective measures to stop terror financing and money laundering in the country.
Over the last two years, Pakistan has made significant progress to address many legislative gaps and clamped down on militant groups that have risen on FATF’s agenda. In February 2020, the organization expressed reservations over “Pakistan’s failure to complete its action plan in line with the agreed timelines and in light of the terrorist financing risks emanating from the jurisdiction.” The FATF in its statement said it