FATF deadline


Shuja Ahmed Awan
Financial action task force (FATF), which is an international watchdog for terror financing and money laundering, has accused Pakistan of terror financing and has put Pakistan on its Greylist. FATF has provided Pakistan with 27 points to act upon in due date June 30 in order to qualify for the white list, which if Pakistan succumbs it would qualify for the White list. On the contrary, if it doesn’t comply with the 27 points it would be put on the blacklist which includes countries as Iran and North Korea which can sabotage the so-called reviving economy of the country. Pakistan has made efforts and has been successfully complying with 24 out of the 27 given points, which is a great achievement.But, that is not enough to cope with the situation What needs more to be done is, to comply with the remaining three points and make the country qualify for the desired white list. Dr. Marcus, who is the president of FATF, has asked Pakistan to demonstrate to FATF the compliance of the remaining three points strictly. Now, let us observe the status quo of the situation in the country.Firstly, in the inception of the year on January 3rd, the country    saw an unfortunate incident that took place in Machh; where a group of militants killed 11 coal miners after kidnapping them. For which protests were held across the country and it gained currency in international media escalating matters for internal state security of Pakistan. Secondly, the Serena Hotel blast in Quetta, which killed at At least five people injuring others escalated matters for Pakistan and does not pose a good picture of the situation; where the Chinese ambassador was supposed to show up on the very same day. This can again be the turning point and may Pakistan be given another extended deadline or it could face grieving consequences for such a worsening state of affairs in the country. Lastly, the recent countrywide protests by an Islamist party for expelling the Ambassador of France, too, can have unexpected outcomes, as the headquarter of the FATF is situated in Paris and France is one of the Major countries whose vote is essential for Pakistan to be cast in favor of her in order to qualify for the white list in FATF. Pakistan surely has made efforts, but there is much that needs to be done. The ruling government should make sure the remaining three points are tackled so the country should get rid of this grey list and continue developing as it is one of the vulnerable economies. Government must pay heed to FATF protocols and demonstrate to them the compliance of the action plan.