Pakistan: High risk country


The Money Laundering and Terrorist Financing Regulation 2021 was implemented in the Kingdom of UK in March followed by the new definition of “high-risk countries”. According to the reports, Pakistan is ranked 15th in the 21-member list as UK has added the name of Pakistan to its list of ‘high-risk countries’ which are facing severe problematic situations such as money laundering and aiding terrorism. Pakistan is acting up as a brother country in the list which also includes Syria, Uganda, Yemen and Zimbabwe. According to a statement issued by the Financial Action Task Force last year, Pakistan has changed its “policy on financing terrorism” and taken positive steps to address the threat posed by extremist organizations. But, Pakistan does not have a proper understanding. If Pakistan had been serious about FATF’s reports and statements when it called on Pakistan to take immediate action in this regard against the organizations including ISIS, the Haqqani Network and Al Qaeda, as well as Lashkar-e-Taiba, Jamaat-ud-Dawa, Jaish-e-Muhammad and the Welfare for Humanity Foundation, the Pakistan must have not been again and again consisted in the list of ‘high risk countries’. For safeguarding the image of the state, Pakistan ought to close the gap in its policy, legislation and implementation of terrorism financing now as considering the situation and risk of defamation of the country’s name. However, it must not have failed to fully understand the threats posed by the terrorist organizations, including the Islamic State and al-Qaeda. Pakistan is not India where bloody clashes between the Indian security forces and Maoist insurgents in Chattisgarh are on the peak and the ‘Terrorist-Reportings’ would ignore it. It must be kept in mind that Pakistan is geologically important to all the developed countries in the world which desire to join hands with Pakistan as a friend. So, for the sake of stablizing the economy, this country has to eliminate all such elements from the regional areas which hinder the way of Pakistan towards prosperity. All have seen that this government has taken special measures, heads have been arrested, accounts have been frozen, sanctions have been imposed, big banks have been penalized, but there remaining is important vacuum ‘Get Rid Of Terrorist Activities’ which must be filled as soon as possible.