The Nation, Feb 27, 2021
The Financial Action Task Force (FATF), in its plenary meeting decided to retain Pakistan on the grey list. The case of Pakistan will be reassessed next at the extraordinary plenary session in June this year.
This was expected; sources from within the PM house claim that the reason for the lack of a diplomatic offensive in anticipation of the review stemmed from the knowledge that June would bring about our removal from the list.
The assessment report shows that Pakistan has made significant progress on the twenty-seven-point plan that was agreed to by Islamabad. If we look at Pakistan’s journey, the country has made huge progress from January 2019 when it had to address 25 incomplete points to this day, when it only has three partially complete actionable items. The government deserves credit for showing such an improved level of compliance.
Islamabad’s hard work has paid off, and now the country is nearing the finishing line. Authorities need to burn the midnight oil to satisfy FATF in the next session to get Pakistan out of the grey list permanently.
Remaining on the grey list for such a long period has not cost us politically only. The economic costs are also enormous. According to one report, our placement on the grey list may have resulted in cumulative GDP losses of around $38 billion. This is a very huge amount.
However, it is also true that the plan that FATF handed over to Pakistan was the most rigorous that was ever given to any country. Therefore, our progress is nothing short of commendable. And Pakistan’s significant improvement on 24 points shows that we are far away from the once lingering threat of being blacklisted.
It is now time to step up diplomatic efforts to make FATF appreciate Pakistan’s remarkable journey. Furthermore, Islamabad must also persuade FATF to put India under increased monitoring because of its financial assistance to anti-state actors that are destabilising the region.https://nation.com.pk/27-Feb-2021/fatf-s-appreciation
Still grey : edit in The News, Feb 27, 2021
The Financial Action Task Force has decided to keep Pakistan on its ‘Grey List’ as a country to be kept under watch, until June this year, when a specially organised plenary will once again examine Pakistan’s situation and determine its fate. Pakistan has stayed off the ‘Black List’, which would have been its worst nightmare, as it would have brought additional economic sanctions. The FATF has said that while Pakistan has made positive steps towards dealing with financing the terrorism in the country, out of the list of 27 measures it had been given, three still need to be worked upon further and had only been partially completed. The FATF has stressed the need for effective action against terrorists and organisations which back terrorism so that the problem can be halted. It has suggested the three areas of concern for the organisation, which include the issue of money still going to over 1000 persons or groups, which have been defined as terrorist in the country. It is not known if recent terrorist actions, such as the attack on four women who were killed in North Waziristan had any impact on the FATF’s deliberations.
The organisation has however made it clear it is not an investigation agency and cannot say if Pakistan is in any way aiding or abetting terrorism. It has also told India that terrorism from India will be watched when the occasion arises and if this is required. The FATF announcement is perhaps not unexpected for Pakistan. The country has worked hard over the past years to remove itself from the list, including tight regulations by the State Bank over money coming into banks, notably from overseas sources and money moving outside the country, as well as other methods frequently used by militant organizations. It will now have to step up its efforts just a little in order to remove itself from the grey and go back into the white where it should belong.
We hope, for the sake of the economy and for the sake of the status of the country, that this would be possible over the months up till June. Pakistan now badly needs to remove itself from the grey list so that it can move forward at its own will and with its own strategies on dealing with terrorism and financing for terrorism in order to ensure that the problem is dealt with effectively and for a long term.https://www.thenews.com.pk/print/796179-still-grey
FATF retains Pak on Grey List: edits, Feb 27, 2010
The Nation, Feb 27, 2021
The Financial Action Task Force (FATF), in its plenary meeting decided to retain Pakistan on the grey list. The case of Pakistan will be reassessed next at the extraordinary plenary session in June this year.
This was expected; sources from within the PM house claim that the reason for the lack of a diplomatic offensive in anticipation of the review stemmed from the knowledge that June would bring about our removal from the list.
The assessment report shows that Pakistan has made significant progress on the twenty-seven-point plan that was agreed to by Islamabad. If we look at Pakistan’s journey, the country has made huge progress from January 2019 when it had to address 25 incomplete points to this day, when it only has three partially complete actionable items. The government deserves credit for showing such an improved level of compliance.
Islamabad’s hard work has paid off, and now the country is nearing the finishing line. Authorities need to burn the midnight oil to satisfy FATF in the next session to get Pakistan out of the grey list permanently.
Remaining on the grey list for such a long period has not cost us politically only. The economic costs are also enormous. According to one report, our placement on the grey list may have resulted in cumulative GDP losses of around $38 billion. This is a very huge amount.
However, it is also true that the plan that FATF handed over to Pakistan was the most rigorous that was ever given to any country. Therefore, our progress is nothing short of commendable. And Pakistan’s significant improvement on 24 points shows that we are far away from the once lingering threat of being blacklisted.
It is now time to step up diplomatic efforts to make FATF appreciate Pakistan’s remarkable journey. Furthermore, Islamabad must also persuade FATF to put India under increased monitoring because of its financial assistance to anti-state actors that are destabilising the region.https://nation.com.pk/27-Feb-2021/fatf-s-appreciation
Still grey : edit in The News, Feb 27, 2021
The Financial Action Task Force has decided to keep Pakistan on its ‘Grey List’ as a country to be kept under watch, until June this year, when a specially organised plenary will once again examine Pakistan’s situation and determine its fate. Pakistan has stayed off the ‘Black List’, which would have been its worst nightmare, as it would have brought additional economic sanctions. The FATF has said that while Pakistan has made positive steps towards dealing with financing the terrorism in the country, out of the list of 27 measures it had been given, three still need to be worked upon further and had only been partially completed. The FATF has stressed the need for effective action against terrorists and organisations which back terrorism so that the problem can be halted. It has suggested the three areas of concern for the organisation, which include the issue of money still going to over 1000 persons or groups, which have been defined as terrorist in the country. It is not known if recent terrorist actions, such as the attack on four women who were killed in North Waziristan had any impact on the FATF’s deliberations.
The organisation has however made it clear it is not an investigation agency and cannot say if Pakistan is in any way aiding or abetting terrorism. It has also told India that terrorism from India will be watched when the occasion arises and if this is required. The FATF announcement is perhaps not unexpected for Pakistan. The country has worked hard over the past years to remove itself from the list, including tight regulations by the State Bank over money coming into banks, notably from overseas sources and money moving outside the country, as well as other methods frequently used by militant organizations. It will now have to step up its efforts just a little in order to remove itself from the grey and go back into the white where it should belong.
We hope, for the sake of the economy and for the sake of the status of the country, that this would be possible over the months up till June. Pakistan now badly needs to remove itself from the grey list so that it can move forward at its own will and with its own strategies on dealing with terrorism and financing for terrorism in order to ensure that the problem is dealt with effectively and for a long term.https://www.thenews.com.pk/print/796179-still-grey
Published in Pak Media comment