FATF to rule on harsher sanctions for Pakistan by Friday | World News - Hindustan Times
close_game
close_game

FATF to rule on harsher sanctions for Pakistan by Friday

Islamabad | By
Jul 12, 2020 01:39 AM IST

The reports further said that support extended by Turkey, China and Malaysia resulted in the FATF deciding not to include Pakistan on its “black list”.

The Financial Action Task Force (FATF) has reviewed steps taken by Pakistan to counter money laundering and terror financing during meetings underway in Paris and is expected to rule on whether harsher sanctions will be imposed on the country by Friday.

China, Turkey and Malaysia also appreciated the steps taken by Pakistan though some concerns were raised about a tax amnesty scheme offered by the government.(Reuters image)
China, Turkey and Malaysia also appreciated the steps taken by Pakistan though some concerns were raised about a tax amnesty scheme offered by the government.(Reuters image)

A Pakistani delegation led by economic affairs minister Hammad Azhar told the meetings that Islamabad has made positive progress in 20 out of 27 points in an action plan finalised by the intergovernmental watchdog. The FATF expressed satisfaction at the measures and Pakistan’s progress in various areas, according to local media reports.

Hindustan Times - your fastest source for breaking news! Read now.

The reports further said that support extended by Turkey, China and Malaysia resulted in the FATF deciding not to include Pakistan on its “black list”.

 Also Watch | NSA Ajit Doval on terror financing watchdog FATF lens on Pakistan

The FATF also gave Pakistan more time to implement outstanding measures, the reports added.

China, Turkey and Malaysia also appreciated the steps taken by Pakistan though some concerns were raised about a tax amnesty scheme offered by the government.

The FATF reportedly said Pakistan will need to take more steps in the next four months to curb terror financing. A final decision on whether Pakistan will be put in the black list will be made in February 2020, according to the media reports.

A formal announcement about all developments will be made on Friday, the FATF has said.

The Dawn newspaper reported that the spokesperson for the finance ministry, Omar Hameed Khan, did not confirm the media reports and only said a complete statement would be available on Friday.

The paper said the Paris-based correspondent of Aaj TV, Younus Khan, reported that the FATF had decided to give an additional four months to Pakistan to help it implement the remaining recommendations.

In August, the Asia Pacific Group (APG), a regional affiliate of the FATF, expressed concern over Pakistan’s performance due to technical flaws.

Islamabad is obliged to report its performance to the APG every three months.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away! - Login Now!

Get Latest World News along with Latest News from India at Hindustan Times.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, March 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On