If Pakistan is put in the ‘Dark Grey’ list by the FATF, it will get one last chance for reform and act on the terrorists operating from its soil.
Paris| The Financial Action Task Force (FATF) may tighten its grip on Pakistan. In the FATF meeting convened recently, Pakistan has suffered a major setback. The meeting saw Pakistan being isolated with no other countries standing in its support. Reportedly, the FATF may put Pakistan’s name on the ‘dark grey’ list with the last warning of reform.
Officials participating in the FATF meeting said that all the signs indicate that Pakistan will not get support from any country if it does not take adequate action against terrorists and terrorist organizations operating from its soil. An official said that Pakistan has taken only minor action on six out of 27 action plans. In this case, strict action can be taken against it. If Pakistan is saved from going on the ‘Black’ list then it can be put in the ‘Dark Grey’ list. The FATF will deliver a verdict on Pakistan on 18 October. According to the rules, there is a ‘Dark Grey’ list between ‘Grey’ and ‘Black’ list.
What does ‘Dark Grey’ list mean?
Another official said that the ‘Dark Grey’ list means that the country concerned is given one last chance for reform. The FATF put Pakistan on the grey list in June last year and gave time till October this year to act on 27 points. Even if Pakistan remains in the grey list or if it is put in the dark grey list, then its difficulties will surely increase.
Also Read: Pakistan may be placed in FATF’s ‘grey list’ for financially aiding terrorism: reports
In such a situation, it will be difficult for Pakistan to get financial support from the World Bank, the International Monetary Fund and the European Union. Representatives of several countries are attending the FATF plenary meeting that began on Sunday. Representatives of the International Monetary Fund, United Nations, World Bank and other organizations are also attending the meeting. The FATF monitors the money laundering and financing of terrorists.
Pak team is gathered in Paris for rescue
A team led by Pakistan’s Finance Minister Hammad Azhar has arrived in Paris with Iran and North Korea facing the risk of being named in the FATF’s blacklist. This party will present its stand on Islamabad’s steps to curb terrorism financing and money laundering.
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
