Pakistan might remain on the grey list of the Financial Action Task Force (FATF) as it has been unable to comply with 6 of the 27 points in the global watchdog's action plan, a media report said on Wednesday. The FATF 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 the coronavirus pandemic. The report said Pakistan is unlikely to exit FATF grey list, but the country has managed to avert being blacklisted. It said that the country had completed its legal formalities and informed the watchdog that it had managed to comply with 21 of the points in the action plan.
Pakistan has succeeded in making 20 per cent progress in the remaining six points of the action plan, it said. The country has complied with the points related to money laundering. The remaining six points pertain to terrorism financing. The International Cooperation Review Group of the FATF has acknowledged that Pakistan had complied with 21 points of the action plan, the report said. As per a India Today report, the Financial Action Task Force has decided to retain Pakistan on its grey list at least till the next review which is due in February 2021. The report further adds that Turkey proposed during the FATF that members should consider Pakistan's good work. Turkey went further to suggest that the Financial Action Task Force should dispatch an on-site team to Pakistan to finalise its assessment instead of waiting for the completion of the remaining six out of 27 parameters.