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New Delhi: Pakistan is lobbying with the United States to remove it from the grey list of the Financial Action Job Force ( FATF), an intergovernmental organisation that fights terror funding and money laundering, which has actually impacted the country’s drooping economy.
Pakistan foreign minister Shah Mehmood Qureshi remained in Washington recently and had revealed hope that the United States would back its efforts to get it off the grey list at FATF’s review conference in Beijing today.
” This conference is very crucial for us as it causes a plenary conference in Paris in April where the world body will decide whether Pakistan remains on the list or is taken off,” Qureshi said at a press meet in Washington on Friday. He also urged the US to evaluate its travel advisories for Pakistan and motivate investment in the country.
” Please think about how you can assist improve Pakistan’s exports, (and) increase our Forex (Click Here For Best Forex Techniques) reserves … we need your assistance there too,” he said. “We likewise require your investment in the tourism industry.”.
FATF had in October last year stated Pakistan has been not able to handle terror groups propping up in the nation under different banners, with lots of objecting to last year’s general elections also. It alerted the nation to swiftly finish its complete action plan by February 2020, or face blacklisting in its next plenary session in April in Paris.
Some officials stated Pakistan will need to take decisive action against Jamaat-ud-Dawa (JuD) and its chief Hafiz Saeed to prevent being blacklisted. FATF has actually red-flagged JuD that, according to the fear guard dog officials and professionals, is a charity front for horror group Lashkar-e-Taiba.
Blacklisting by FATF could lead to a freeze of capital flows to Pakistan, sluggish progress in refinancing/re-profiling of loans from significant bilateral financial institutions, and increased headwinds from a weaker worldwide economic backdrop.
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