ISLAMABAD: Minister for Economic Affairs Hammad Azhar on Saturday said that Pakistan had targeted to complete all items on Financial Action Task Force (FATF) action plan till February 2020.
Pakistan will come out of grey to white List by the given deadline, Azhar said in a statement on social media site Twitter.
“Pakistan has targeted to complete all items on its FATF action plan and InshAllah upgrade from the grey list to the white list of FATF in 2020. A coordinated effort from all Regulators, LEAs, Federal and Provincial Govt Depts is already underway in this regards,” he said.
READ MORE: Pakistan to remain on FATF’s grey list till February 2020
The minister said FATF had noted progress already achieved by Pakistan during the last one year and especially in the last four months.
However, he added that more work was needed to be done as they country’s action plan was perhaps the most ambitious and challenging ever handed out to any country.
“FATF has noted progress already achieved by Pakistan during the last one year and especially in the last 4 months. However, more work needs to be done as our action plan is perhaps the most ambitous and challenging ever handed out to any country,” he added.
Pakistan has targeted to complete all items on its FATF action plan and InshAllah upgrade from the grey list to the white list of FATF in 2020.
A coordinated effort from all Regulators, LEAs, Federal and Provincial Govt Depts is already underway in this regards.— Hammad Azhar (@Hammad_Azhar) October 18, 2019
It may be noted that FATF had formally announced on that Pakistan will remain on its grey list till February 2020. However, the global body expressed satisfaction over the progress made on anti-money laundering and terror-financing laws.
“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and the Asia-Pacific Group (APG) to strengthen its anti-money laundering (AML) and counter-terror financing (CTF) regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has made progress towards improving its AML/CFT regime, including the recent development of its money laundering / terror financing risk assessment,” the FATF had conceded.
