Pakistan to remain in FATF's terror financing 'grey list': Report

The plenary meeting of the Financial Action Task Force(FATF) has decided to keep Pakistan on the terror "grey list", according to reports.

Pakistan’s progress on its anti-terror Action Plan wasn't considered due to situation arising out of coronavirus pandemic. Pakistan had already been given an additional four months time in April 2020 to work on the anti-terror plan.

The Paris-based anti-terror global watchdog had given Pakistan until June to improve its counter-terror financing operations in line with an internationally agreed action plan or face action.

In fact, Pakistan's staunch ally Beijing had sent a stern message to Pakistan to complete its commitments on action against terrorist financing.

Pakistan’s progress on its Action Plan will now be evaluated in the next FATF plenary meeting to be held in October 2020, ANI quoted sources as saying.

Pakistan will reportedly continue to be in the grey list till February 2021, even if it completes all its action plan items by October 2020, reports said. ANI sources said that a FATF team would have to confirm completion of Action Plan with an on-site visit before it can put Pakistan out of the "grey list".

Blacklisting by the Paris-based financial action task force will be a big blow for Pakistan's economic reform programme leading to severe economic sanctions with the countryalready under strain due to the coronavirus pandemic.