FATF Warns Pakistan – Do More to Avoid Blacklisting
FATF in his meeting held at Paris today, ask Pakistan to intensify its efforts to control the menace of terror. It also advises its members to keep a watch on the progress made by Pakistan in meticulously following the action plan devised by FATF. The danger of slippage into FATF Blacklist is looming large on Pakistan.
Pakistan is in FATF Greylist since June 2018. While putting Pakistan in Greylist, FATF has given a 27 point action plan to be implemented to dismantle the terror network flourishing in the country. But Pakistan failed completely in curbing the money laundering and terror funding to terror groups operating from its soil. The last chance is given to Pakistan to avoid slippage to Blacklisting. Pakistan have to show remarkable improvement by following action points advised by FATF.
Pakistan saved by its 3 friends
It was quite eminent that Pakistan has lost all its support due to its dismal record in curbing the terror. It’s downgrading to Blacklist was quite certain. But Pakistan was able to grab some more time in avoiding its blacklisting by the support of its friends “Trio” – China, Turkey & Malaysia. Pakistan needs 3 votes to avoid slippage to Blacklist, which it managed through them.
Pakistan requires 15 votes for an upgrade, which was quite an impossible task in the present scenario. Pakistan’s record in controlling the terror units operating within the country is very poor, as well as it barely left with any friends who take its commitments seriously.
Blacklisting by FATF will further stress Pakistan’s ailing economy
It will be very much difficult to survive after the blacklisting as Pakistan’s economy is already in very bad shape. After blacklisting, it will really be much difficult to get any financial assistance from the world body.
The only way out for Pakistan is to strictly follow the action points of FATF and put a complete hold on terror and money laundering activities in Pakistan.