The Financial Action Task Force (FATF) has retained Pakistan on its grey list. It means no respite for the nation as it looks for financial aid amid the pandemic.
In the virtual session in Paris, the global anti-terror financing watchdog reviewed the Asia Pacific Group’s report on Pakistan’s compliance with its prescribed action items. FATF has recommended a list of measures for Pakistan to stop money laundering and terror financing in the nation.
Earlier this month, a regional affiliate of the FATF had retained Pakistan on the Enhanced Follow-up list and asked the country to strengthen its efforts towards the action items prescribed by FATF
Pakistan was put on the FATF grey list three years ago and has been trying since to get out of this list. FATF’s latest decision means the nation will continue to face difficulties in its endeavour to access finances in the form of investments and aid from international bodies including the International Monetary Fund.