Pakistan did not act against terrorists and front organizations of terrorist groups.
New Delhi:
Pakistan will remain on the “gray list” of the global terrorism financing watchdog until February next year, the body ruled on Friday, as the country did not meet the necessary conditions for unlimited access to international funds.
Pakistan, which has failed to meet six of the 27 points it had to meet, “needs to do more,” the Financial Action Task Force (FATF) said, according to sources. He said that a FATF on-site visit would only be made once Islamabad meets all the conditions and only then will Pakistan have the restrictions.
“Pakistan has completed 21 out of 27 items. It means the world has become safer, but six deficiencies need to be fixed. We give them the opportunity to repair their progress, and if not, a country will be pushed to the blacklist,” the Said the FATF.
Indian government sources had previously told NDTV that they expect Pakistan to remain on the gray list and that the country will not act against organizations that act as fronts for terrorist groups and some of the world’s most wanted terrorists such as Maulana Masood Azhar and Hafiz. Saeed.
Pakistan had also failed to crack down on the media to fund terrorist activities and money laundering and four nominated countries, the United States, the United Kingdom, France and Germany, were not entirely satisfied with their role in Afghanistan, the sources said.
With Pakistan remaining on the gray list, it has become increasingly difficult for him to obtain financial assistance from the International Monetary Fund (IMF), the World Bank, the Asian Development Bank (ADB) and the European Union, exacerbating problems for the country with liquidity problems. .
The decision was made at the end of the FATF three-day virtual plenary that was previously scheduled in June. Pakistan took an unexpected respite after the global financial crime watchdog temporarily postponed all assessments and follow-up deadlines in the wake of the COVID-19 pandemic.
The watchdog also put a general pause in the review process, thus giving Pakistan an additional four months to comply with requirements.
To avoid the blacklist, Pakistan has needed the support of three countries and has been constantly backed by China, Turkey and Malaysia to circumvent the label. Currently, North Korea and Iran are on the FATF blacklist. Pakistan needs 12 votes out of 39 to get off the gray list and go on the white list.
Pakistan was included on the gray list by the FATF in June 2018 and received an action plan to complete it in October 2019. Since then, the country has continued on that list due to its non-compliance with the FATF mandates.
The FATF is an intergovernmental body established in 1989 to combat money laundering, terrorist financing, and other threats related to the integrity of the international financial system.
The FATF currently has 39 members, including two regional organizations: the European Commission and the Gulf Cooperation Council.
India is a member of the FATF consultations and its Asia Pacific Group.
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