Imran niazi, Prime Minister of Pakistan

Ahead of the FATF Plenary and Working Group Meetings in Paris, analysts have said that Pakistan is likely to slip into the 'black list' of the global anti-terrorist financing and anti-money laundering watchdog for non-compliance.Pakistan has been on the Paris-based FATF's grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018. This greylisting has adversely impacted its imports, exports, remittances, and limited access to international lending.Since coming to power, Pakistan Prime Minister Imran Khan has been campaigning for Pakistan's removal from the FATF's greylisting without any success. Experts believe the Pakistani government has failed to take action against terror organizations. On the contrary, it has been capitulating before Islamist outfits such as Tehreek-e-Taliban Pakistan (TTP).In an analytical piece, Global Strat View said that decisions taken by the Pakistan government may have violated the Financial Action Task Force's (FATF) mandates."If the FATF puts Pakistan on the 'black list,' economic penalties and other restrictive measures will be imposed. This will be a big blow to the struggling economy of Pakistan whose economy has witnessed a cumulative decline of about $38 billion during 2008-2019 as a result of FATF's grey-listing," the report said citing Pakistani economist Dr. Naafey Sardar.According to the Global Strat View, there are strong signals that it could be placed in the 'black list'."The Islamabad government has decided to start the Afghanistan Relief Fund to collect funds from the world, primarily from Muslim countries. However, the decision was criticized in Pakistan as financing the new Taliban regime would not go well with the western bloc and may result in sanctions from the FATF."Last October, Global financial watchdog FATF had retained Pakistan on its 'grey list'. This decision was announced after the FATF three-day plenary to discuss key issues in the fight against money laundering and terrorist financing."Pakistan remains under increased monitoring (grey list). The Pakistan government has two concurrent action plans, with a total of 34 action plan items. It has now addressed or largely addressed 30 of the items," FATF President Dr Marcus Pleyer had said.Pakistan was retained on the FATF 'grey list' for failing to effectively implement the global FATF standards and over its lack of progress on investigation and prosecution of senior leaders and commanders of UN-designated terror groups.FATF President had said Pakistan will remain on the grey list till it addresses all items on the original action plan agreed to in June 2018 as well as all items on a parallel action plan handed out by the watchdog's regional partner - the Asia Pacific Group (APG) - in 2019.Pleyer had noted that "Pakistan has made significant progress and it has largely addressed 26 out of 27 items on the action plan it first committed to in June 2018."He, however, had added that the item on financial terrorism still needed to be addressed which concerned the "investigation and prosecution of senior leaders and commanders of UN-designated terror groups".( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Imran NiaziFOLLOW

Imran niazi, Latest News

Pakistan Prime Minister Imran Khan has summoned three high-level meetings on Monday to discuss matters related to the Opposition's long march and current political situation of the country. ...

Pakistan's Minister for Religious Affairs Noorul Haq Qadri has appealed to Prime Minister Imran Khan to declare March 8, International Women's Day, as International Hijab Day, said a think tank, Policy Research Group (POREG). ...

Pakistan's Minister for Religious Affairs Noorul Haq Qadri has appealed to Prime Minister Imran Khan to declare March 8, International Women's Day, as International Hijab Day, said a think tank, Policy Research Group (POREG). ...

Amid reports of probable power tariff hike by the Imran Khan government, Pakistan Muslim League Nawaz (PMLN) President and National Assembly Opposition Leader Shehbaz Sharif has demanded immediate revocation of the hike, local media reported. ...

Imran Khan government's efforts to regulate social media through amendments to the Prevention of Electronic Crimes Act (PECA) has received flak from the opposition parties as well as various media and journalists' bodies in Pakistan for shackling the ...

Saudi Crown Prince Mohammad bin Salman is likely to visit Pakistan in March, local media reported citing official sources. ...

With Pakistan Prime Minister Imran Khan ties with the country's military hitting rock bottom, he is facing a challenge to his political survival due to the deteriorating economic situation in the country. ...

Ahead of the FATF Plenary and Working Group Meetings in Paris, analysts have said that Pakistan is likely to slip into the 'black list' of the global anti-terrorist financing and anti-money laundering watchdog for non-compliance. ...