Pakistan In Gray List: Shock to Pakistan in task force meeting, retained in FATF gray list


Pakistan has suffered a setback in the review meeting of the Financial Action Task Force (FATF). It is being told that in this meeting held in Berlin, it has been decided to keep Pakistan in the gray list for the time being. In the meeting, Pakistan said that it has taken necessary steps to curb black money and stop financing for terrorism. On-site review was also proposed for its investigation. Any decision on removal of gray list will be taken only after this on-site visit. However, the FATF also welcomed the steps taken by Pakistan.

According to the information, in its June 2022 plenary session, the FATF preliminary found that Pakistan has substantially completed its two action plans, which include 34 items. Provision has been made for on-site visits to see whether the implementation of Pakistan’s reforms has started and whether it is continuing now. In addition the FATF expressed sympathy for the people of Ukraine and agreed to severely limit the role and influence of the Russian Federation within the FATF.

Earlier also Pakistan was retained in the ‘Grey List’

Earlier too, the FATF had retained Pakistan in the ‘grey list’ for not curbing black money, increasing financing for terrorism. Along with this, Pakistan was also asked to investigate and prosecute people like terrorists Hafiz Saeed and Masood Azhar.

Why Pakistan is on the gray list?

Pakistan had failed to act on terrorist organizations and terrorists. That’s why Pakistan is still in the gray list. Countries like Pakistan are also termed as safe tax havens due to non-stop control of money laundering and terror funding.

Get more latest news updates