Pakistan again remains in ‘Grey List’, June deadline to implement action plan

Last updated Feb 27, 2021

Islamabad : Pakistan was retained in the “grey list” of Financial Action Task Force (FATF), which examined its efforts to counter terror financing and money laundering. The decision was taken at the meeting of the multilateral watchdog on Thursday.

The decision was taken amid reports of frequent shelters by Pakistan to terrorists and terrorist organizations when Pakistan failed to meet 3 out of all the 27 parameters of the FATF’s action plan.

In the FATF meeting, it was decided on Thursday that Pakistan will be kept in the gray list. Pakistan has been engaged for a long time in trying to get out of the FATF grey list but it could not succeed this time also. Pakistan could not fulfill 3 important points out of the prescribed 27 criteria.

FATF chief Marcus Pleier said that Pakistan would remain under surveillance. There are still many serious flaws regarding Terror Financing, although Pakistan has taken many important steps and out of 27 action points, 3 important points remain.

In the FATF meeting in October last year, Pakistan was retained in the gray list. At the FATF plenary, Turkey then proposed that instead of waiting for the remaining 6 of the 27 criteria to be met, members should consider the good work of Pakistan. It was also said on its part that a FATF on-site team should visit Pakistan to finalize its evaluation. This time Pak could not meet 3 criteria.

The FATF today discussed the important progress made by Pakistan on the entire action plan. But Pakistan met 24 out of 27 criteria. The deadline to implement the action plan on his behalf was now over. The FATF has once again asked Pakistan to meet all the criteria before June 2021.