FATF Retains Pakistan In Grey List, Given Additional Task

SRINAGAR: Paris based international terror-financing watchdog, Financial Action Task Force (FATF) has retained Pakistan in its grey list and given it additional six tasks to move out of the status, reports said.

After its Plenary Session was over, FATF said Pakistan had completed 26 of the 27 tasks it had been handed but will remain on the grey list for her failure to complete the last task on convicting terrorists and terror entities of the UN-designated terror groups. The UN Security Council listed groups include Lashkar-e Toiba, Jaish-e Mohammad, Al Qaeda and the Taliban.

“The FATF encourages Pakistan to continue to make progress to address as soon as possible the one remaining Countering Finance of Terrorism (CFT)-related item by demonstrating that Terror Financing investigations and prosecutions target senior leaders and commanders of UN-designated terrorist groups,” FATF President Marcus Pleyer was quoted saying.

Greylisting carries no legal sanctions. However, it attracts economic strictures and restricts a country’s access to international loans. Pakistan’s Foreign Minister Shah Mehmood Qureshi had endorsed the estimate of an expert group suggesting Pakistan is losing US $10 billion annually because of the greylisting.

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