ISLAMABAD, Pakistan: The Federal Minister for Industries and Production Hammad Azhar has said that Pakistan has complied with 90 percent of the Financial Action Task Force (FATF) action plan and the rest will be completed by June 2021.
While addressing a News Conference in Islamabad on Friday, he said that Pakistan has so for completed compliance of 24 out of 27 action points of the FATF.
Hammad Azhar said that Pakistan will come out of the grey list after compliance of the remaining three points.
The minister said that Pakistan was given the most challenging action plan of the world but it vigorously pursued to comply with the plan which was also recognized by the International Community in FAFTs plenaries.
The federal minister said that Pakistan is determined to act against money laundering and terror financing.
In reply to a question, he said that India misused the FATF platform to push Pakistan into the blacklist but due to the government’s concerted efforts of implementing the action plan, this has not been an option for Pakistan now.
Hammad Azhar said that Pakistan continued complying with the FATF action plan even during the strong wave of the COVID-19 pandemic.
Pakistan has completed almost 90% of its current FATF action-plan with 24 out of 27 items rated as ‘largely addressed’ and remaining 3 items ‘partially addressed’.
FATF has acknowledged Pak’s high level political commitment since 2018 that led to significant progress. 1/3
— Hammad Azhar (@Hammad_Azhar) February 25, 2021
It was also noted by FATF member countries that Pakistan is subject to perhaps the most challenging & comprehensive action plan ever given to any country.
We are also subject to dual evaluation processes of FATF with differing time lines. 2/3— Hammad Azhar (@Hammad_Azhar) February 25, 2021
Pakistan remains committed to complying with both FATF evaluation processes and I would like to commend the hard work done by dedicated teams in multiple govt depts at Federal & provincial tiers.
I will be holding a press briefing at 11.30 Am on this issue tomorrow InshAllah.
— Hammad Azhar (@Hammad_Azhar) February 25, 2021
