Initial talks will be held with the FATF on Sunday and the meeting officially kick off from Monday, reports The Express Tribune.
The 20-member team is being led by Federal Minister for Economic Affairs Hammad Azhar and includes representatives of the Federal Investigation Agency, State Bank of Pakistan, Federal Board of Revenue, Securities and Exchange Commission of Pakistan, Anti Narcotics Force and intelligence agencies.
According to Finance Ministry sources, the outcome of the talks, which would continue till September 13, would decide whether Pakistan's name remains on the 'grey list' or would it be added to the 'black list'.
Talks will also be held over including Pakistan's name in the enhanced expedited list by the Asia-Pacific Group (APG), a regional affiliate of the FATF.
The move will mean that Pakistan would be required to submit follow-up reports to the APG on a quarterly basis.
The Express Tribune quoted the sources as saying on Saturday that replies to 125 questions of the APG had also been summoned in order to take Pakistan out of the list.
It is being said that cross-questioning would also be held during the talks between the two sides, the sources said, adding that Pakistan's stance in the talks would be presented through the APG.
Pakistan would also provide answers to 10 important questions related to curbing money laundering and terrorism financing. Details of punishment handed over to those involved in terrorism financing had also been sought.
The development comes after the APG on August 23 place Pakistan under its enhanced monitoring mechanism after it failed to comply with 11 recommendations out of 40.
( With inputs from IANS )