Government of Pakistan
had pledged to put in place a strategy to implement the Action Plan. Owing to complexity and size of the action plan, the Minister for Finance had established a high-powered, inclusive and robust institutional coordination and monitoring mechanism to
ensure that the Action Plan is implemented within time and the country is brought out of FATF’s grey list.
Ironically Pakistan could
not implement its ‘to do’ list commensurate with January 2019 deadlines. It again also failed to complete its action plan by May 2019. Now FATF has granted it time till October 2019.
Pakistan needs the support of at least 15 of FATF’s 36 voting members to move out of the ‘grey list’ and it needs three votes to prevent blacklisting. Ramifications of Pakistan remaining in the ‘grey list’ could be devastating. It would culminate into increased difficulty by the government to muster foreign investments. Pakistan desperately needs
foreign investments to slither out of its prevailing economic crisis.
the other side, Pakistan has exhibited firm commitment to comply with the dictum of FATF. It has already chalked out plans to shift the students of Mumbai attack mastermind Hafiz Saeed’s Jamaat-ud-Dawa (JuD) and Falah-i-Insaniat Foundation (FIF) to the government-run schools.
Moreover, the Pakistani government has sealed and took over administrative control of several establishments run by the proscribed Jaish-e-Mohammad (JeM), the JuD and the FIF. Pakistan’s government initiated action against these organizations after notifying a 2019 order of the United Nations Security Council that provides
a legal basis for freezing or seizure of properties owned by individuals and organizations designated by the council as terrorists.
goes well and Pakistan is able to adopt concrete measures including putting Jaish-e-Mohammad kingpin behind bars, Inshaallah, it will be out of greylist sooner rather than later.
25 Jun 19/Tuesday Written by Naphisa