Pakistan on the verge of being removed from FATF grey list

[MenInG]

In a major relief for Pakistan, the neighbouring country is just “one step away” from being removed from the grey list of the FATF — the international watchdog monitoring money laundering, terror financing, and other threats to global financial networks — top diplomatic sources have told CNN-News18.

Sources said Pakistan is likely to get ‘on-site visit’ to exit the grey list. The International Co-operation Review Group (ICRG) of the Financial Action Task Force (FATF) is likely to visit Pakistan in August, given that the country has fulfilled over 30 of the 34 conditions put forth by the agency.

Grey listing means FATF has placed a country under increased monitoring to check its progress on measures against money laundering and terrorism financing. The “grey list” is also known as the “increased monitoring list”.

Apart from Pakistan, Syria, Turkey, Myanmar, Philippines, South Sudan, Uganda, and Yemen are among 23 countries on the grey list.

In June 2021, after the plenary session, FATF had emphasised that Pakistan needs to “investigate and prosecute” senior leaders and commanders of UN-designated terror groups, including Jaish-e-Mohammed chief Masood Azhar, Lashkar-e-Taiba founder Hafiz Saeed, and its ‘operational commander’ Zakiur Rehman Lakhvi. The agency gave Pakistan time till October 2021 to meet the remaining conditions of compliance.

Of late, Pakistan is trying its best to comply with all international agencies, given that the country faces economic and political instability. For instance, the prices of essential items have also been increased, as IMF wanted, in what will be a major boost to the economy in the large run.

Pakistan has been on the FATF grey list continuously since June 2018.

The FATF was established in July 1989 by a G-7 Summit in Paris, initially to examine and develop measures to combat money laundering. After the 9/11 attacks, the FATF in October 2001 expanded its mandate to incorporate efforts to combat terrorist financing, and in April 2012, it added efforts to counter the financing of proliferation of weapons of mass destruction.

https://www.news18.com/news/world/p...lling-over-30-conditions-sources-5386855.html

 

[MenInG]

Trying her best to downplay this incase it reflects well on Imran Khan. Poor thing.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/FATF?src=hash&ref_src=twsrc%5Etfw">#FATF</a> Plenary Meetings r continuing in Berlin. FATF will issue a Public Statement after conclusion of the meetings tonight. Prejudging the outcome or speculative reporting could and should be avoided.<br>GOP has arranged a media briefing at MOFA on Saturday morning on this issue</p>— Hina R Khar (@HinaRKhar) <a href="https://twitter.com/HinaRKhar/status/1537690434809520128?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Removal of Pakistan from FATF grey list is yet another feather in PTI@Hammad Azhar's cap. After producing strong economic results in the last two years, successfully managing Covid and now FATF, the question is why was Imran Khan's govt changed?</p>— Shaukat Tarin (@shaukat_tarin) <a href="https://twitter.com/shaukat_tarin/status/1537687515720818689?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[PakLFC]

That is the reward for following American dictations. Most likely this was always the agreement when the whole conspiracy against IK was hatched.

 

[wasim-fan]

Being rewarded. So basic issue was in fact IK it would seem.

 

[MenInG]

Being rewarded. So basic issue was in fact IK it would seem.

No.

Its his hard work over many years that has lead to this.

Now the question is, given habits of the current regime, how long will it take us to go back to that status.

 

[MenInG]

The Pakistan Stock Exchange's (PSX) benchmark KSE-100 index was up more than 500 points on Friday afternoon, largely buoyed by expectations Pakistan's removal from the Financial Action Task Force's (FATF) grey list.

According to the PSX website, the index gained 520.84 points against the previous day's close of 41,730.16 to reach 42,251 by 12pm.

"Stocks closed bullish in the first session after reports of Pakistan's likely exit from [the FATF] grey listing on agreement over compliance on 27 action items in the FATF plenary meeting," Arif Habib Corporation Director Ahsan Mehanti told Dawn.com.

Raza Jafri, head of equities at Intermarket Securities, also attributed today's rally to the "expectations of a positive outcome" after the FATF's four-day plenary session ends today.

"The results of the FATF plenary session are expected later today. Expectations of a positive outcome are leading the KSE-100 higher today," he said.

Salman Naqvi, head of research at Aba Ali Habib Securities, shared similar views, saying most of the purchases today had been made by financial institutions.

"Big investors have bought blue-chip shares following reports of Pakistan's removal from the FATF grey list," he said, adding that if the country is taken off the list today, he is expecting the index to cross the 43,000-mark in the next session.

Pakistan has been on FATF's increased monitoring list, or the grey list, since 2018 for deficiencies in its counter-terror financing and anti-money laundering regimes.

In its last plenary, held in Paris in March, the FATF noted that "Pakistan has completed 26 of the 27 action items in its 2018 action plan". The FATF encouraged Pakistan "to address, as soon as possible, the one remaining item, — investigating terrorism financing and targeting" senior leaders and commanders of UN-designated terrorist groups.

With the FATF's four-day plenary session due to conclude today, there have been reports that Pakistan would be finally taken of the body's grey list.

'Pakistan inches closer to resumption of IMF programme'

The rally witnessed in the stock market today is a continuation of its relatively positive momentum from the past two days, which, besides the possibility of Pakistan being taken off the FATF grey list, is being linked to the recent increase in fuel price prices — for the third time in 20 days.

The price hike was one of the conditions for the resumption of the International Monetary Fund's $6 billion loan programme, which has been stalled since April.

Pakistan had signed a 39-month, $6bn Extended Fund Facility with the IMF in July 2019, but the Fund stopped the disbursement of about $3bn when the previous government reneged on its commitments and announced fuel and energy subsidies.

On Wednesday, Finance Minister Miftah Ismail announced in a late-night press conference that the government was increasing fuel prices by up to 29 per cent and said the prices of all petroleum products had now been brought to their purchase price and the element of subsidy or price differential claim had been eliminated.

This has been seen as a step towards the resumption of the IMF loan facility, which is said to have boosted investor confidence.

"Pakistan continues to inch closer to resuming the IMF programme," Jafri said, when asked to outline reasons for the rally in PSX.

Mehndi also cited speculation about the likely resumption of the IMF programme behind the positive investor sentiment, in addition to the "institutional support on falling government treasury bond yields".

DAWN

 

[Major]

No.

Its his hard work over many years that has lead to this.

Now the question is, given habits of the current regime, how long will it take us to go back to that status.

bro, you are contradicting yourself....

First you said its a reward for regime change in the title, and when you saw pti folks giving credit to Imran, you have to change the tone.......

Anyways, Thank You Joe Biden, we appreciate it.

 

[MenInG]

bro, you are contradicting yourself....

First you said its a reward for regime change in the title, and when you saw pti folks giving credit to Imran, you have to change the tone.......

Anyways, Thank You Joe Biden, we appreciate it.

LOL!

Yes I am confused.

Not sure what to make of this but being in the financial world and being aware of FATF on our business, I can tell you that IK and Gov must have done something good to come of it.

I will amend title

 

[ARK Rafay]

No.

Its his hard work over many years that has lead to this.

Now the question is, given habits of the current regime, how long will it take us to go back to that status.

Either way it is win-win for PTI.

If it is because of the hardwork of Pakistan government, credit goes to PTI.
If it is because regime change was successful, we know PTI were right.

 

[Rana]

[MENTION=76058]cricketjoshila[/MENTION] will be very upset at this news

He thrives as a poster on these FATF rankings lol

 

[JaDed]

Congratulations,this should help with IMF as well .

I never knew this FATF before it was discussed on this forum for last 4 years.

Honestly Hina is the only minister who beats her PTI counterparts(not same ministry but still) hands down.

 

[Bewal Express]

Didn't the crooks oppose all the legislation so that they could blackmail to get an NRO, which they eventually got from Bajwa.

 

[Bewal Express]

[MENTION=76058]cricketjoshila[/MENTION] will be very upset at this news

He thrives as a poster on these FATF rankings lol

Why did the crooks oppose the legislation in Parliament. What was wrong with it, and since coming to power what did they change about the FATF legislation that IK passed?

 

[Romali_rotti]

This is the end of Imrans political career.

Americans have given the green light.... Hopefully Pak can stay off the list for atleast 5 years..

 

[MenInG]

All eyes are on the Financial Action Task Force's (FATF) plenary meeting concluding today (Friday), with Pakistan having high hopes to secure an 'onsite visit' which may lead Islamabad a step closer to get out of the grey list.

Minister of State for Foreign Affairs Hina Rabbani Khar Friday advised against prejudging and speculative reporting on the FATF meeting's outcome.

Taking to Twitter, the minister said that the plenary meetings are underway and the FATF will issue a public statement after concluding the meetings tonight.

She further stated that the government has arranged a media briefing at the Ministry of Foreign Affairs on Saturday.

"The FATF Plenary Meetings are continuing in Berlin. FATF will issue a Public Statement after conclusion of the meetings tonight. Prejudging the outcome or speculative reporting could and should be avoided. Government of Pakistan has arranged a media briefing at MOFA on Saturday morning on this issue," Khar wrote.

Earlier, a government official said in conversation with the BBC that the recent updates on the plenary meeting show good signs of a decision in Pakistan's favour.

He said that the consent and consolation of other countries in the meeting is also significant.

However, he said that matters will take seven to eight months to settle even if Pakistan makes its way out of the watch list as the FATF team will visit Pakistan for an inspection.

Sources said that the FATF had directed Pakistan to fulfil 34 conditions in two stages, which Pakistan accomplished. The country fulfilled 32 out of 34 conditions in the last FATF meeting and completed the remaining two in this meeting.

They said that the final decision could be delayed till the next FATF meeting scheduled to take place in Paris in October.

Pakistan had launched a massive diplomatic effort to get off the FATF grey list. Khar, who is also the chair of Pakistan’s National FATF Coordination Committee, is leading the Pakistan delegation at the plenary meeting that started on June 14.

Pakistan needs the votes of Turkey, China, and Malaysia to get off the list, and all three countries have assured the Pakistani authorities of full support. That's why there are now bright chances that Pakistan may finally exit the FATF grey list after its current meeting being held in Berlin, Germany.

Germany, the US, and other countries have also expressed partial support for Pakistan’s demand for exclusion from the FATF grey list.

According to sources, during the recent visits of Prime Minister Shehbaz Sharif, Foreign Minister Bilawal Bhutto Zardari and Minister of State for Foreign Affairs Hina Rabbani Khar to different countries, important discussions took place regarding FATF. In all these meetings, a soft attitude towards Pakistan was expressed by important countries.

Pakistan has implemented almost all points of the FATF Action Plan, except for the penalties, and Pakistan has made prosecutions and all relevant legal amendments.

Pakistan was placed on the FATF list of countries under increased monitoring in June, 2018.

GEO

 

[MenInG]

PTI leader and former special assistant to the prime minister on political communication Shehbaz Gill criticised the incumbent government and said that while the economy is suffering because of its policies, the nation is also hearing some "good news" because of the efforts of the previous government.

The PTI leader was referring to Pakistan's status on the Financial Action Task Force's (FATF) grey list and said that the previous government had to make some tough decisions to get off the list.

"To that end, Imran Khan formed a team under the leadership of Hammad Azhar and after constantly working hard for three years, Pakistan is on its way to being removed from the FATF grey list now," Gill said.

Taking a jibe at the Minister for Planning and Development Ahsan Iqbal, Gill said that the so-called "Ahsan Aristotle" cannot claim the credit for getting Pakistan off the grey list.

"President Arif Alvi had already written a letter to the chief justice of Pakistan in this regard," he maintained, adding that the credit for this achievement solely goes to the PTI-led government and Imran Khan and no one else.

Pakistan was placed on the FATF list of countries under increased monitoring in June 2018. The country has implemented almost all points of the FATF Action Plan, except for the penalties, and has made prosecutions and all relevant legal amendments.

GEO

 

[MenInG]

Hold off the Rooh Afza yet....

==

BERLIN: The Financial Action Task Force (FATF) announced on Friday that Pakistan has “substantially completed its two action plans” but on-site visits are required to verify Islamabad’s implementation, a statement issued by the watchdog said.

However, Pakistan has not been officially removed from the FATF's grey list.

The watchdog said that FATF will “monitor the COVID-19 situation and conduct an on-site visit at the earliest possible date”.

The FATF officials will hold a press briefing shortly on the outcomes of the four-day plenary session of the watchdog that reviewed Pakistan's action plans.

A government official had earlier said in a conversation with the BBC that matters will take seven to eight months to settle even after Pakistan has made its way out of the watch list as the FATF team will visit Pakistan for an inspection.

Pakistan had launched a massive diplomatic effort to get off the FATF grey list. Minister of State for Foreign Affairs Hina Rabbani Khar, who is also the chair of Pakistan’s National FATF Coordination Committee, is leading the Pakistan delegation at the plenary meeting that started on June 14.

GEO

 

[Technics 1210]

Seismic tremors detected on the richter scale given this news; India in a tail spin.

 

[Bewal Express]

Being rewarded. So basic issue was in fact IK it would seem.

IK met all the requirements of the FATF bar one. And in reality it was just a stick to beat PK with. Play ball or eise

 

[Bewal Express]

bro, you are contradicting yourself....

First you said its a reward for regime change in the title, and when you saw pti folks giving credit to Imran, you have to change the tone.......

Anyways, Thank You Joe Biden, we appreciate it.

Why did the mafia opppose the legislation?

 

[MenInG]

Imran Khan on Twitter:

I am confident that prerequisite onsite visit of FATF team to confirm completed work on our action plan will pass successfully too. Hammad Azhar, members of his FATF coord committee & officers who worked on this task performed exceptionally well. The whole country is proud of you

FATF repeatedly praised work & the political will my govt demonstrated. We not only averted blacklisting, but also completed 32 out of 34 action items. We submitted compliance report on remaining 2 items in April based on which FATF now declared Pak's Action Plan as completed.

I constituted a FATF Coordination Committee headed by key minister Hammad Azhar. The committee had representation from all govt departments & security agencies relevant to our FATF action plan. The officers worked day & night in the first instance to avoid blacklisting.

Pak was nominated for grey listing by FATF in Feb 2018 & had to complete the most challenging action plan ever given to any jurisdiction. When my govt took over, we faced dire prospect of Blacklisting by that body. Our past compliance history with FATF was also not favourable.

 

[Bewal Express]

Imran Khan on Twitter:

I am confident that prerequisite onsite visit of FATF team to confirm completed work on our action plan will pass successfully too. Hammad Azhar, members of his FATF coord committee & officers who worked on this task performed exceptionally well. The whole country is proud of you

FATF repeatedly praised work & the political will my govt demonstrated. We not only averted blacklisting, but also completed 32 out of 34 action items. We submitted compliance report on remaining 2 items in April based on which FATF now declared Pak's Action Plan as completed.

I constituted a FATF Coordination Committee headed by key minister Hammad Azhar. The committee had representation from all govt departments & security agencies relevant to our FATF action plan. The officers worked day & night in the first instance to avoid blacklisting.

Pak was nominated for grey listing by FATF in Feb 2018 & had to complete the most challenging action plan ever given to any jurisdiction. When my govt took over, we faced dire prospect of Blacklisting by that body. Our past compliance history with FATF was also not favourable.

The mafia put PK in the grey list, opposed all the legislation required and blackmailed PK IK for an NRO, eventually given by Bajwa and his crooks. Today because of Kaptaan we are close to or will come out. Once again it shows that the best govt since Ayub in the 60s was sacrificed to placate the Americans and our mafia. The country is reeling from this terrible decision.

 

[Bewal Express]

[MENTION=135038]Major[/MENTION]
Why did this walkout take place

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Hina Rabbani Khar walking out of the National Assembly in protest of the Anti-Money Laundering & Anti-Terrorism bills. <a href="https://t.co/7xqFaUkslp">pic.twitter.com/7xqFaUkslp</a></p>— Tabinda (@taabindaa) <a href="https://twitter.com/taabindaa/status/1537764730592542722?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Savak]

So what is the benefit to Pakistan for getting off the FATF grey list?

 

[JaDed]

So what is the benefit to Pakistan for getting off the FATF grey list?

Accessing loans at cheaper interest rate.

 

[JaDed]

Contrary to the belief this is great news for South Asia and India esp, Pakistan -PTI completed all the action items required don’t think other governments would had undertaken such strong measures, kudos to IK for this.

 

[MenInG]

The Financial Action Task Force (FATF) – an international financial watchdog for combatting money laundering and terrorist financing – on Friday announced kick-starting a process to remove Pakistan from the ‘grey list’ after four years of rigorous monitoring of its efforts to combat terror financing, in a decision that will end the threat of Islamabad being blacklisted.

“At its June 2022 Plenary, the FATF made the initial determination that Pakistan has substantially completed its two action plans, covering 34 items,” according to a statement issued by the FATF on Friday.

On-site inspection mission decision was taken by the global body during its June 14-17 plenary meeting held in Berlin, Germany.

It added the initial determination “warrants an on-site visit to verify that the implementation of Pakistan’s AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation and improvement in the future”.

The FATF will continue to monitor the Covid-19 situation and conduct an on-site visit at the earliest possible date, it added, without giving a date for the visit.

The Pakistani authorities said that the global body will next month send a mission to Pakistan to determine the veracity of the government’s claim that it has fully implemented all the 34 conditions that the FATF had set in February 2018 and then in June 2021. Pakistan had been asked to implement these conditions in 15 months but it took around four years due to complexity of these issues.

The FATF’s decision will now require commitments from all the Pakistani stakeholders to prove to the FATF’s upcoming mission that no serious deficiency remains in its Anti-Money Laundering (AML) and Combating Terror Financing (CFT) regimes.

The FATF handout also noted that since June 2018, when Pakistan made a high-level political commitment to work with the FATF and Asia Pacific Group to strengthen its AML/CFT regime and to address its strategic counter-terrorist financing-related deficiencies, Islamabad’s continued political commitment to combating both terrorist financing and money laundering has led to significant progress.

In particular, Pakistan demonstrated that terror financing investigations and prosecutions target senior leaders and commanders of UN designated terrorist groups and that there is a positive upwards trend in the number of money laundering investigations and prosecutions being pursued in Pakistan, in line with Pakistan’s risk profile.

In addition, Pakistan also largely addressed its 2021 action plan ahead of the set times, according to the FATF.

The Pakistani authorities said that Pakistan will submit its progress report in the first week of July to the FATF. The FATF team will then make on-site visits to Pakistan in the last week of July and hold meetings with relevant government departments, according to Pakistani officials.

The on-site inspection team will submit its report to the FATF and on the basis of on-site team report, the FATF will announce the decision of keeping or removing Pakistan from the grey list in the next plenary.

In February 2018, the FATF had decided to place Pakistan on the grey list with effect from June 2018 and handed it over a list of 27 conditions that it needed to implement to exit the grey list.

In the last plenary meeting, the FATF also acknowledged the “significant progress” made by Pakistan in completing the required action items.

Earlier, Pakistan had completed 26 of the 27 action items in its 2018 action plan and one remaining point was about CFT related item by demonstrating that terror financing investigations and prosecutions target senior leaders and commanders of UN designated terrorist groups.

The remaining action item was the most significant among all in the view of the member countries including the US and India, which have circled Pakistan through the FATF platform.

Countries have long been demanding through the FATF forum that Pakistan should target eight groups – the Afghan Taliban, Jamaat-ud-Dawa (JuD), Haqqani Network, Jaish-e-Mohammed (JeM), Lashkar-e-Taiba (LeT), Falah-e-Insaniyat Foundation, al-Qaeda and the Islamic State.

In response to additional deficiencies later identified in Pakistan’s 2019 APG Mutual Evaluation Report (MER), in June 2021, Pakistan provided further high-level commitment to address these strategic deficiencies pursuant to a new action plan that primarily focused on combating money laundering.

The FATF had given a new six-point action plan in June last year, keeping Islamabad exposed to global pressure tactics.

In response to additional deficiencies later identified in Pakistan’s 2019 APG Mutual Evaluation Report (MER), Pakistan has made progress to address a number of the recommended actions in the MER and provided further high-level commitment in June 2021 to address these strategic deficiencies pursuant to a new action plan.

Pakistan was asked to continue to work to address its strategically important AML/CFT deficiencies by enhancing international cooperation by amending the Mutual Legal Assistance law and that it was seeking assistance from foreign countries in implementing UNSCR 1373 designations; demonstrate that supervisors were conducting both on-site and off-site supervision commensurate with specific risks associated with designated non-financial businesses and persons (DNFBPs), including applying appropriate sanctions where necessary.

https://tribune.com.pk/story/2362019/fatf-kick-starts-process-to-remove-pakistan-from-grey-list

 

[Cover Drive Six]

So, who deserves the most credit for remove Pakistan from the ‘grey list’?
PTI or Current Government

 

[JaDed]

So, who deserves the most credit for remove Pakistan from the ‘grey list’?
PTI or Current Government

lol why would current govn get anything.. all the tasks were completed by PTI , if anything Previous govns should be blamed for the mishaps of being put into it.

 

[sjahmed23]

Can someone explain what happens once Pakistan is removed from Fatf? What are they able to do now that they were not before?

 

[Major]

Can someone explain what happens once Pakistan is removed from Fatf? What are they able to do now that they were not before?

Basically, this will eliminate the mistrust of foreign investors. Investment was stilll happening. If you look at panama, people still keep their money there which they make illegally.....

Foreign investors will now slowly start investing in the country and bring in the needed currency

 

[cric_man]

Can someone explain what happens once Pakistan is removed from Fatf? What are they able to do now that they were not before?

FATF grey list is a big stumbling block in integrating Pakistan into ePayment portals. the likes of PayPal/Venmo shy away as FATF cast a shadow on the country's financial processes.

 

[Major]

Contrary to the belief this is great news for South Asia and India esp, Pakistan -PTI completed all the action items required don’t think other governments would had undertaken such strong measures, kudos to IK for this.

sure..

Is PTI willing to accept its mistake with the misuse of the IMF funds on a stupid sehat card program?

You cant take credit for good and blame the bad on others. Today, PTI's official twitter hold made a tweet that IF they are removed than its because of PTI. Meaning that if they were not removed than PTI was not willing to take blame for it

 

[JaDed]

sure..

Is PTI willing to accept its mistake with the misuse of the IMF funds on a stupid sehat card program?

You cant take credit for good and blame the bad on others. Today, PTI's official twitter hold made a tweet that IF they are removed than its because of PTI. Meaning that if they were not removed than PTI was not willing to take blame for it

No issues with that.. they can portray what they want that is politics,I’m sure we as non political people appreciate any parties for the good they do.

 

[cric_man]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The irony of it all! When u don't really care about Pakistan u feel no guilt or shame for such actions like opposing laws necessary to get Pak out of FATF Grey List! But now u will shamelessly try to take credit for something u opposed! <a href="https://twitter.com/hashtag/FATF?src=hash&ref_src=twsrc%5Etfw">#FATF</a> <a href="https://twitter.com/hashtag/ThankYouImranKhan?src=hash&ref_src=twsrc%5Etfw">#ThankYouImranKhan</a> <a href="https://t.co/6k4PZrE8oX">https://t.co/6k4PZrE8oX</a></p>— Shireen Mazari (@ShireenMazari1) <a href="https://twitter.com/ShireenMazari1/status/1537787720398954499?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Romali_rotti]

The way I see it, if Pakistan is removed from the grey list, Americans as mentioned earlier will be back in the scheme of things.

They sure will have some oversight on what's happening in CPEC, this should get the Chinese nervous, which is a good thing from an Indian perspective..

 

[MenInG]

Prime Minister Shehbaz Sharif on Friday felicitated the nation after the Financial Action Task Force (FATF) announced that Pakistan would be removed from its 'grey list' after successfully passing the on-site visit stage, Geo News reported.

In a major development for Pakistan stuck in a whirlpool of crises, the international financial watchdog for combating money laundering and terrorist financing announced on Friday that Pakistan has “substantially completed its two action plans” and would be removed from the grey list after it passes the on-site visit stage.

Terming Pakistan’s imminent return to the ‘white list’ a step towards success, PM Shehbaz congratulated the core team, government institutions and all other persons involved in the successful implementation of the FATF action plan.

“Praise be to Allah, everyone’s efforts have borne fruit,” said the PM in a statement.

GEO

 

[Major]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The irony of it all! When u don't really care about Pakistan u feel no guilt or shame for such actions like opposing laws necessary to get Pak out of FATF Grey List! But now u will shamelessly try to take credit for something u opposed! <a href="https://twitter.com/hashtag/FATF?src=hash&ref_src=twsrc%5Etfw">#FATF</a> <a href="https://twitter.com/hashtag/ThankYouImranKhan?src=hash&ref_src=twsrc%5Etfw">#ThankYouImranKhan</a> <a href="https://t.co/6k4PZrE8oX">https://t.co/6k4PZrE8oX</a></p>— Shireen Mazari (@ShireenMazari1) <a href="https://twitter.com/ShireenMazari1/status/1537787720398954499?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

As usual, dumb statement by mazari.

Bills in ptis tenure were not discussed and were just bulldozed..

If you want to pass a bill, discussion is required first. During ik and asad qaisers time the NA had become a joke.

Anyways, loving how pti are burning that this good news happened during pdm's tenure

 

[daytrader]

COAS lauds army’s role
Gen Qamar says GHQ’s cell along with civilian govt made it possible to comply with AML and CFT plans

ISLAMABAD:
Pakistan Army played a vital role along with the government and other national institutions to complete the Financial Action Task Force (FATF) action plans, paving the way for removal from global financial watchdog’s grey list, the military chief said on Friday.

DG ISPR Major General Babar Iftikhar, in a Twitter post, said completion of FATF’s Anti-Money Laundering (AML) and Counter Terror Financing (CFT) action plans by Pakistan is a great achievement and a monumental effort paving way for whitelisting.

“Core cell at GHQ [General Headquarters] which steered the national effort & civil-military team which synergised implementation of action plan made it possible, making Pak proud,” he quoted Chief of Army Staff (COAS) Gen Qamar Javed Bajwa as saying.

Also read: FATF ‘kick-starts’ process to remove Pakistan from grey list

The special cell at the GHQ headed by the DG military operations was established in 2019 on the orders of the COAS after consultation with the then government.

When the military cell took over the responsibility, only five items of the FATF points were completed.

This cell established comprehensive mechanism between more than 30 departments, ministries and agencies to ensure implementation of these policies.

The GHQ cell formulated a comprehensive strategy and a detailed roadmap to address the concerns of FATF and completed its action plan, well before the timelines set by the global watchdog.

The GHQ cell has strengthened its AML and CFT regime to counter vulnerabilities and threat as envisaged during the National Risk Assessment.

Also read: Imran Khan credits Hammad Azhar, his team for ‘successful FATF compliance’

The army’s cell demonstrated significant increase in ML investigations and prosecutions during the last 13 months and reported more than 800 cases of money laundering.

The cell demonstrated substantial increases in the number and value of assets seized over this reporting cycle, with 71% increase in number of assets and 85% increase in value of assets seized.
https://tribune.com.pk/story/2362029/coas-lauds-armys-role

 

[ahsan17]

The way I see it, if Pakistan is removed from the grey list, Americans as mentioned earlier will be back in the scheme of things.

They sure will have some oversight on what's happening in CPEC, this should get the Chinese nervous, which is a good thing from an Indian perspective..

Whenever I hear Indian analysis on anything to do with Pakistan, their conclusion is that whatever is happening is good for India. Lol.

 

[Afzal_K]

Reminds me of this scene from one my fav movies and actors

https://youtu.be/N9PyXGar8VI?t=2398

Focus on 'Sawal yeh nahin hain...."

I hope ppl get the meaning

 

[MenInG]

Minister of State for Foreign Affairs Hina Rabbani Khar on Saturday said that Pakistan is now "one step away" from exiting the Financial Action Task Force's (FATF) "grey list", and the planned on-site visit is a procedural requirement.

She was briefing the media a day after the watchdog acknowledged that Pakistan had completed the action plan items and had secured an onsite visit.

"The 2018 action plan has been closed and no pendency of action remains on Pakistan's part," she said.

She shared that Pakistan had submitted three progress reports to the FATF regarding an action plan given last year which was related to money laundering. "I am pleased to announce that Pakistan has completed the entire seven-point action plan a year ahead of the given timelines."

Khar said the development spoke volumes about the comprehensive reforms carried out in Pakistan in the anti-money laundering and counter terror financing (AML/CFT) domain and credited the country's "sustained momentum and result of our efforts".

"Consequent to the fruitful discussions held at the plenary, the FATF has decided by consensus that Pakistan has addressed all technical benchmarks and completed all ... action plans - 2018 and 2021."

She termed the FATF's acknowledgement "no less than a herculean feat and a remarkable achievement".

Talking about the on-site visit, the minister said it was part of the procedure for removing Pakistan from the "grey list" and would validate the process of implementation of reforms.

"Pakistan is one step away from exiting the grey list," she stressed. "The on-site visit marks the beginning of the end [of the] process that will eventually culminate in Pakistan's exit from the grey list, hopefully forever."

Khar shared that the government was working closely with the global watchdog to schedule the visit at mutually convenient dates so the process could be concluded prior to the FATF's plenary session in October.

"We have been highlighting complete national consensus. I assure of the government's commitment to take this [process] forward with national consensus. I also want to stress that Pakistan's cooperation with the FATF and the international community is grounded in our strategic objective of strengthening our economy and improving its integration in the international financial system."

'Boost to economy'

The minister expressed confidence that the FATF's acknowledgement would boost confidence in Pakistan's economy and give it a much needed boost and improve the investment climate.

"I also want to acknowledge, in fact, really want to emphasise, on the tireless efforts of teams who have done a tremendous job in achieving these strenuous, difficult and complicated targets. I think this is something to celebrate."

Many departments and agencies at the federal and provincial level had contributed to the national cause, she said.

"This also demonstrates that when we work together, all of the country, all of the nation, we can achieve sometimes what is considered to be impossible. This is going to be a cross-government effort," she acknowledged.

The minister said that Pakistan was now in a position to not only sustain the trajectory of reforms but also to provide guidance and technical support to other countries on the list. "We are "quite a bit ahead of the curve," she added.

"I know we are far ahead regarding the financial regulations system — CFT and AML legislation — within the region but we are also doing good when you compare us to international benchmarks.

"I am sure we will be fully prepared for the on-site visit and will exit the grey list at the earliest," she said.

The minister also advised caution in sharing FATF-related developments, saying the "urge to share news has harmed us in the past". She noted that the government had been "very, very careful" by allowing the plenary to announce its decision before sharing it.

Removal from the "grey list" would be a new beginning, she continued, adding that Pakistan would then look towards strengthening its systems according to its own requirements as opposed to reporting to others.

Responding to a question, Khar acknowledged that Pakistan was the only country asked to complete two action plans. "It was quite unprecedented. We were, in fact, the only country that has had two simultaneous action plan to implement. It was tedious, arduous, it was difficult ... There was legal framework to take care of, there were amendments to do and then there was institutionalization of new laws, building of structures and the system."

'Willing to share credit'
In response to another question regarding why it took a long time for the achievement, the minister said the process was very intensive and the action plan had minute details that required the country to take action at many different levels which is why it was time consuming.

The process had strengthened Pakistan's system and enabled it to appear as a responsible country, Khar added.

"We have always emphasized that the FATF must remain apolitical, technical and impartial," she said in response to whether a particular country was behind the long process.

She said the incumbent government was "willing to share credit with whoever wants a piece of the pie" as implementation of the action plan was done over several years.

Read: 'Proud of you': Former PM Imran hails FATF decision as accomplishment of Hammad Azhar-led committee

"If I will give credit to anyone, it will be my team, and by that I mean Pakistan's team, because we are representing the state of Pakistan right now. I will give credit to every member of the team who are visible and in the background," she said

"Let's not be overly celebratory right now. The process has started and the on-site visit is due, and even after that our journey will continue, the strengthening of legislation and administration will continue."

The minister said Pakistan now needed to prepare for the on-site visit so the country's claims that it had completed all action plans could be evaluated technically. "Clearly, we did enough to get a green light."

She said that going after people involved in terror financing was part of the country's national agenda and emphasised that the purpose of whatever reforms were being undertaken was the national interest.

'Single country tried to make this political'

The minister was also asked whether there had been political motivation for keeping Pakistan on the "grey list" to which she replied that while the country had always emphasised the FATF should remain apolitical, certain countries were "involved" in trying to maintain Pakistan's status on the list.

"A certain, singular country, at least that we all can name, has always tried to make this process a political one and been a spanner in the wheel, and to realise that we got this through consensus in the presence of that certain country ... We have to be whiter than others but it shows how much we have achieved."

'Never again'

While talking about the lessons that Pakistan had learnt, Khar said the message for the country was "never again".

"Never again will we want to be part of any list that will require us to divert our attention from our national requirements to [international] reporting requirements. We never want to slip into this again. This is the biggest lesson."

Khar said that Pakistan had "of course raised" the "leaking" of FATF-related developments prior to the plenary's conclusion. "There are very stong confidentiality rules. The FATF takes it very, very seriously. Your are actually endangering the credibility of the country when you do that."

While she did not name India herself, she said the "certain country you (reporter) have mentioned has been doing that openly and has been caught doing it". Other countries understood that what had happened was incorrect, she added.

While announcing the watchdog's decision yesterday, FATF President Dr Marcus Pleyer acknowledged the reforms implemented by the country, saying "they are good for the stability and security of the country".

He, however, added that "Pakistan is not being removed from the grey list today. The country will be removed from the list if it successfully passes the on-site visit".

Pleyer said Pakistan would have to ensure [during the visit] that it effectively tackled money laundering and funding of terrorist groups.

DAWN

 

[Major]

Whenever I hear Indian analysis on anything to do with Pakistan, their conclusion is that whatever is happening is good for India. Lol.

True. but indian pov is hardly an analysis as ita just nationalist biasness ....

They will even bash cpec while being part of bri

 

[Bewal Express]

As usual, dumb statement by mazari.

Bills in ptis tenure were not discussed and were just bulldozed..

If you want to pass a bill, discussion is required first. During ik and asad qaisers time the NA had become a joke.

Anyways, loving how pti are burning that this good news happened during pdm's tenure

Your such a dishonest poster and it shows with your posts on this topic. Simple Question
Why did your guys blackmail for NROs when the bills came forward?

 

[wasim-fan]

Hina Rabbani press conference was quite brilliant. What a sea change from Qureshi.

 

[Bewal Express]

Hina Rabbani press conference was quite brilliant. What a sea change from Qureshi.

Amazing, did she answer why she walked out when the legislation was brought forward. The gymnastics of you guys is so pathetic that you could qualify for the Olympics

 

[wasim-fan]

Amazing, did she answer why she walked out when the legislation was brought forward. The gymnastics of you guys is so pathetic that you could qualify for the Olympics

As usual you don’t read or choose not to. Read her press release. She said specifically that this development belongs to Pakistan and all govts that have contributed to it.

 

[Major]

Amazing, did she answer why she walked out when the legislation was brought forward. The gymnastics of you guys is so pathetic that you could qualify for the Olympics

Ur a lakeer ka fakeer. You will see any tweet bashing others and you will not jumping on that without knowing the context.

During ptis small tenure govt, pti was bulldozing bills. Discussion was not going on. Nothing was debated on the floor. Imran and the speaker with no control asad traitor did not promote discussion.

If there is no discussion and you are gonna bulldoz bills, no stupid mna is gonna sit through a dummy process.

Funny how pti wants credit for fatf but wants pdm to take blame for economy in 2 months..

 

[MenInG]

Ur a lakeer ka fakeer. You will see any tweet bashing others and you will not jumping on that without knowing the context.

During ptis small tenure govt, pti was bulldozing bills. Discussion was not going on. Nothing was debated on the floor. Imran and the speaker with no control asad traitor did not promote discussion.

If there is no discussion and you are gonna bulldoz bills, no stupid mna is gonna sit through a dummy process.

Funny how pti wants credit for fatf but wants pdm to take blame for economy in 2 months..

Funny how PDM want to blame PTI For its own incompetence also.

 

[Bewal Express]

Ur a lakeer ka fakeer. You will see any tweet bashing others and you will not jumping on that without knowing the context.

During ptis small tenure govt, pti was bulldozing bills. Discussion was not going on. Nothing was debated on the floor. Imran and the speaker with no control asad traitor did not promote discussion.

If there is no discussion and you are gonna bulldoz bills, no stupid mna is gonna sit through a dummy process.

Funny how pti wants credit for fatf but wants pdm to take blame for economy in 2 months..

As I said you are a dishonest poster and this shows your dishonesty. What was to debate? We were told to get our paper work in order and meet the criteria and that was what the law was about. And one of these days we will come out of it. So what was to debate?

 

[Bewal Express]

As usual you don’t read or choose not to. Read her press release. She said specifically that this development belongs to Pakistan and all govts that have contributed to it.

So it belongs to PK but she and the rest of the crooks opposed the legislation and as usual you don't realise what you or she is saying. If the development belonged to PK does that mean these crooks are anti PK because they opposed it?

 

[Bewal Express]

The mafia opposed this and here the hypocrites and their supporters are showing no shame. Well done Kaptaan

 

[Major]

As I said you are a dishonest poster and this shows your dishonesty. What was to debate? We were told to get our paper work in order and meet the criteria and that was what the law was about. And one of these days we will come out of it. So what was to debate?

What was there to debate? Just shows how much you lack in knowledge on NA proceedings......

Na bills have to be discussed before being passed. You dont pass bills just because you have a majority, discussion is required which pti did not conduct

 

[Major]

Funny how PDM want to blame PTI For its own incompetence also.

So you are saying that everything was going well and the economy went into spiral just in two months?

Imf gave us loans, pti instead of using those loans wisely wasted them on a stupid program called sehat card. Sehat card was never sustainabale and was gonna flop as you dont run such programs on loans that too on imf loans.

Money was wasted there than when global recission hit in january, our foolish pm didnt bother to adjust prices and even went on tol keep the petrol prices fixed till we kept on buying expensive and depleting foreign reserves.

The guy ended up creating a mess causing the country to go towards hyper inflation. He even rejects that pakistan would go till 20 percent inflation and believes the numbers are fake.

Pdm only bought it the realistic policies. This is just like how pmln artificially controlled dollar prices, this time it was pti making such dumb policies.

Anyways, like i said before, pti wants to blame pdm for the economic crises pti themselve caused while pdm barely been in govt for 2 months while fatf credit should be given to pti...........

 

[Bewal Express]

So you are saying that everything was going well and the economy went into spiral just in two months?

Imf gave us loans, pti instead of using those loans wisely wasted them on a stupid program called sehat card. Sehat card was never sustainabale and was gonna flop as you dont run such programs on loans that too on imf loans.

Money was wasted there than when global recission hit in january, our foolish pm didnt bother to adjust prices and even went on tol keep the petrol prices fixed till we kept on buying expensive and depleting foreign reserves.

The guy ended up creating a mess causing the country to go towards hyper inflation. He even rejects that pakistan would go till 20 percent inflation and believes the numbers are fake.

Pdm only bought it the realistic policies. This is just like how pmln artificially controlled dollar prices, this time it was pti making such dumb policies.

Anyways, like i said before, pti wants to blame pdm for the economic crises pti themselve caused while pdm barely been in govt for 2 months while fatf credit should be given to pti...........

Yes and the proof is infront of you. We were growing at 6%,a figure close to historical highs, exports up by a 1/3rd due to massive effort by IK, imports down, tax collection up and the list goes on and on. Agrees a deal with Russia to buy cheap oil( Ind did the same) and we were stable with the Rp at 175 and there were no power cuts. These crooks come in and all they do is loot, and suddenly we are in chaos and the rp is 210.
The PDM have no policies and are now just punishing PK for supporting IK. You are the most incompetent, useless idiots to have ever taken over any country. Save your posts for your fellow Mafia idiots, in 2 months you have quite literally destroyed PK.

 

[Bewal Express]

What was there to debate? Just shows how much you lack in knowledge on NA proceedings......

Na bills have to be discussed before being passed. You dont pass bills just because you have a majority, discussion is required which pti did not conduct

Tell me, I am waiting for an answer. The mafia puts us on the grey list because of the money they laundered, FATF ask for legislation and implementation and IK does it, and meets most of the criteria. You crooks oppose it for an NRO, so tell me what needed to be debated? And don't run because when you fascists don't have an answer you run.

 

[Major]

Tell me, I am waiting for an answer. The mafia puts us on the grey list because of the money they laundered, FATF ask for legislation and implementation and IK does it, and meets most of the criteria. You crooks oppose it for an NRO, so tell me what needed to be debated? And don't run because when you fascists don't have an answer you run.

Tell me whil you live in UK, is Hafiz saeed in a proper prison cell or not.

If you really want pti to take credit than come to this point

 

[Varun]

Hina Rabbani press conference was quite brilliant. What a sea change from Qureshi.

Qureshi was the foreign minister of Pakistan from this very party - the PPP - around 10-15 years ago. He presided over the dark days of Pakistan (late-2000s, early-2010s).

A TTF if ever there was one, and yet Imran Khan took him in as if there was nobody better in the land.

 

[srh]

So, who deserves the most credit for remove Pakistan from the ‘grey list’?
PTI or Current Government

None. Pakistan Army deserves the most credit. PTI government and opposition would not talk to each other. And everybody was needed to be on same page to accomplish this task. So Army took matters into their own hands. They created a cell to manage all the tasks, talk to government, talk to opposition to gain enough support to pass the related laws, manage interaction between different departments & organizations etc.

This also shows the main problem with Pakistan. The political parties would not do their own work and so army would do their work. This makes army got more involved in things where they should not interfere.

 

[srh]

Qureshi was the foreign minister of Pakistan from this very party - the PPP - around 10-15 years ago. He presided over the dark days of Pakistan (late-2000s, early-2010s).

A TTF if ever there was one, and yet Imran Khan took him in as if there was nobody better in the land.

And he is next in line for PTI's leadership after Imran Khan.
PTI as a political party will die after Imran Khan if Qureshi is its new leader.

 

[RexRex]

Pakistan must thank India for this FATF promotion. If the latter had objected to Pak being taken off grey list, it wouldn't have happened.

 

[Bewal Express]

Tell me whil you live in UK, is Hafiz saeed in a proper prison cell or not.

If you really want pti to take credit than come to this point

Tell me what was there to debate? We were told what laws had to pass because your criminals kept laundering money or subverting the law. How did AZ and the Sharifs end up with billions abroad? So once again what did you want to debate and don't run like you fascists do.

 

[Bewal Express]

None. Pakistan Army deserves the most credit. PTI government and opposition would not talk to each other. And everybody was needed to be on same page to accomplish this task. So Army took matters into their own hands. They created a cell to manage all the tasks, talk to government, talk to opposition to gain enough support to pass the related laws, manage interaction between different departments & organizations etc.

This also shows the main problem with Pakistan. The political parties would not do their own work and so army would do their work. This makes army got more involved in things where they should not interfere.

If PK army deserves all the credit, then why did we end up in FATF in the first place?

 

[srh]

If PK army deserves all the credit, then why did we end up in FATF in the first place?

I did not say all the credit, the question was about most of the credit. I would say credit should be given in this order: Army, PTI, Opposition.

I dont know why we end up in FATF in the first place. Probably hundi business?

 

[Bewal Express]

I did not say all the credit, the question was about most of the credit. I would say credit should be given in this order: Army, PTI, Opposition.

I dont know why we end up in FATF in the first place. Probably hundi business?

Why the opposition? What did they do?

 

[srh]

Why the opposition? What did they do?

Because if opposition had not agreed on all the legislations in parliament then those legislations would not have become effective.

 

[Bewal Express]

Because if opposition had not agreed on all the legislations in parliament then those legislations would not have become effective.

Really? They walked out when a hugely important decision needed total unity, especially as it was they that had put PK in such a perilous position. And can you tell me how the opposition agreed when they tried to stop it. Your arguments make no sense

 

[Bewal Express]

These incompetent, lying fools taking credit when theh opposed the legislation and when it was they that put PK in the grey list. And these idiot Billo makes my blood boil because of his stupidity

 

[ahsan17]

Pakistan must thank India for this FATF promotion. If the latter had objected to Pak being taken off grey list, it wouldn't have happened.

What's the proof they didn't object? They have been trying to get Pakistan on blacklist.

 

[MenInG]

A day after the Financial Action Task Force (FATF) acknowledged Pakistan’s progress in implementing the plan of action, a junior foreign minister on Saturday cautioned against “premature celebrations”.

“Let’s not be overly celebratory right now,” Minister of State for Foreign Affairs Hina Rabbani Khar told a news conference soon after her arrival from Germany.

Khar led a Pakistani delegation at the FATF plenary meeting held in Berlin which decided to send its team to Pakistan in order to verify actions and steps taken by the country to implement its action plan.

The “on-site” visit is seen as a step in the right direction that may eventually lead Pakistan to exit the grey list. Pakistan has been on the FATF watch list since June 2018 because of deficiencies in its systems to curb money laundering and terror financing.

“The process has started and the on-site visit is due, and even after that our journey will continue, the strengthening of legislation and administration will continue,” the statement further read.

But in its latest meeting, the FATF noted that Pakistan had made substantial progress that warranted an “on-site” visit. Nevertheless, the FATF president made it clear that Pakistan will only be removed from the grey list after the positive assessment of the team that would do the ‘on-site’ inspection.

Officials dealing with the issue believe that Pakistan’s needs to be cautious since it has to demonstrate to the visiting FATF team that all its actions are sustainable and irreversible. The focus of the FATF team will likely be on certain individuals who were convicted in different terror financing cases.

But despite a word of caution, the state minister was hopeful that Pakistan would successfully complete the final phase of the FATF process.

The reason for her optimism stemmed from the fact, in the minister’s own words, that the FATF had now acknowledged by a consensus that all action items had been largely addressed by Pakistan. “The 2018 Action Plan has been closed with no pendency of action on the part of Pakistan.”

On the 2021 Action Plan, which was mostly related to money laundering issues, Pakistan submitted three progress reports. “I am very pleased to announce that Pakistan has completed the entire seven-point Action Plan a year ahead of the prescribed timelines,” she noted.

She maintained that the swift pace and progress was indicative of the comprehensive reforms and actions that has been carried out by Pakistan in the AML/CFT domain and sustained momentum of our efforts. Pakistan’s positive and speedy progress was greatly appreciated and welcomed by the FATF members.

Consequent to the fruitful discussions held in the plenary, the FATF decided, by consensus, that Pakistan had addressed all technical benchmarks and had completed all requirements of the both Action Plans.

“As a result of this remarkable achievement, FATF has now authorised an on-site visit of its technical team to Pakistan to validate the process of implementation of reforms,” Khar said.

She went on to say that the successful completion of the FATF Action Plans and its formal endorsement by the FATF “means that Pakistan is one step away from exiting the grey list”.

“The on-site visit is a procedural requirement,” she said, adding, “It marks the beginning of the end-process that will eventually culminate in the exit of Pakistan from FATF’s grey list.”

Regarding the timing of the on-site visit, she said: “We are working closely with the FATF to arrange the on-site visit at mutually convenient dates with a view to conclude the entire process at the earliest and before the next FATF Plenary in October 2022.”

“I want to take this opportunity to stress once again that Pakistan’s cooperation with the FATF and the international community is grounded in our strategic objective of strengthening our economy and further improve its integration with the international financial system. I am confident that this good news from FATF will restore confidence in our economy, will give it a much-needed boost, and would improve investment climate.”

“I also want to acknowledge the tireless efforts of our teams who worked day and night to achieve our objectives and completed FATF Action Plans. This was indeed a whole of country response. Multiple ministries, departments and agencies, at all levels of the Government have contributed to this national cause. It also demonstrates that when we work together with a sense of purpose we can achieve remarkable things.”

Answering a question, she said: “we are giving credit as I said to anyone who seeks it and deservedly so because this is not a certain political party agenda. This is Pakistan’s agenda. For us, we have to be mature about it. For us, it will be win-win if everybody considers they have stakes in this, so indeed the previous government has stakes in it.”

Express Tribune

 

[daytrader]

‘Many fathers’ of FATF success

ISLAMABAD: A baffling race is currently underway to take credit for the positive response that Pakistan received from the Financial Action Task Force (FATF) at its meeting in Berlin on Friday, brightening the chances of Islamabad’s removal from the global money laundering and terrorist financing watchdog’s ‘grey list’.

The scramble to take credit for the development was summed up poignantly by PPP stalwart Farhatullah Babar, who stated that some of those who were taking credit may actually have been the ones responsible for Pakistan landing on the grey list in the first place, without elaborating further.

As soon as the FATF announced that Pakistan had met all of its 34 conditions, Pakistan Tehreek-i-Insaf (PTI) chairman and former prime minister Imran Khan in a series of tweets credited his government with leading the country to this achievement.

Again, while presiding over a meeting of party spokespersons at his Banigala residence on Saturday, Mr Khan congratulated Hammad Azhar — who was energy minister in the PTI cabinet and the previous government’s point main for anti-money laundering and counter-terror financing efforts — as well as the members and officers of the FATF coordinating committee for “working hard to achieve the milestone to ensure Pakistan’s delisting from FATF grey list”.

On the other hand, Prime Minister Shehbaz Sharif also felicitated the nation and government institutions, personalities and the relevant teams over the development and particularly “appreciated the performance of Minister of State for Foreign Affairs Hina Rabbani Khar and the members of team of the Foreign Ministry” who represented the country at the meeting.

Mr Sharif said the efforts of the basic cell related to FATF and of military and civil leadership included in it, were praiseworthy and the credit went to them for their work in this national endeavour.

PM Sharif said the statement of FATF was a recognition of the restoration of the international reputation of Pakistan.

Meanwhile, the leaders of the Pakistan Peoples Party (PPP) also came out with a series of statements praising their party chairman and Foreign Minister Bilawal Bhutto-Zardari for “successful diplomacy” during his recent foreign visits thus paving the way for the country’s removal from the `grey list’ of the Paris-based FATF.

According to PPP’s media office, PM Sharif on Saturday spoke to Mr Bhutto-Zardari over telephone and “congratulated” him over the achievement. According to Information Minister Marriyum Aurangzeb the prime minister also made a telephone call to the army chief and “lauded his decision to set up the core cell at the GHQ”.

Amid political parties’ wrangling over the issue, a military spokesman termed the development “a great achievement” and gave credit to the “civil-military team” and mainly to the core cell set up at the army’s General Headquarters (GHQ) in Rawalpindi for it.

The prime minister during his telephonic conversation with Gen Bajwa praised the civil and military members in the core cell and the military leadership for their efforts in this regard, stating that the nation felt proud of each member of the cell.

Mr Sharif also made separate phone calls to Ms Khar and Finance Minister Miftah Ismail and paid tributes to them over the development.

Interestingly, where political rivals were unwilling to acknowledge each other’s efforts, they were unanimous in praising the military’s role in the development.

PTI’s vice president Dr Shireen Mazari on Saturday blasted the coalition government for trying to take the credit of the FATF’s positive decision, recalling as to how these parties while in opposition had resorted to “blackmailing tactics” and opposed the much-needed FATF-related legislations.

Ms Mazari in her statement said the “imported government can try to take undue credit for the landmark achievements but Pakistan knew them well, as they opposed the FATF bills in Parliament in 2020”.

“Let’s be clear, FATF removal [is] based on concrete legal actions not on diplomatic skills, therefore, all credit goes to PTI and its team,” she added in an apparent reference to the efforts separately made by the PPP to portray FM Bhutto-Zardari as the main hero behind the achievement.

https://www.dawn.com/news/1695576/many-fathers-of-fatf-success

 

[daytrader]

PM Shehbaz congratulates army chief after Pakistan completes FATF’s action plans

• Prime Minister Shehbaz Sharif holds call with COAS Qamar Javed Bajwa.
• PM lauds civil, military leadership that worked in GHQ’s “core cell”.
• PM appreciates Foreign Minister Bilawal Bhutto, Finance Minister Miftah Ismail.

ISLAMABAD: Prime Minister Shehbaz Sharif Saturday congratulated Chief of Army Staff (COAS) General Qamar Javed Bajwa after Pakistan completed the Financial Action Task Force’s (FATF) action plans.

The anti-money laundering watchdog announced Friday that Pakistan has “substantially completed its two action plans” — of the total 34 items on the list — and would be removed from the grey list after it passes the on-site visit.

During a telephonic conversation, the prime minister appreciated the “core cell” established in the General Headquarters (GHQ) for its efforts in the completion of the anti-money laundering watchdog’s item list.

"I applaud the civil and military leadership that worked with the core cell,” the prime minister said.

In its statement released after the four-day plenary in Berlin, the watchdog acknowledged that the necessary political commitment remains in place to sustain implementation and improvement in the future.

The army chief, a day earlier, had termed the FATF’s announcement a “great achievement” for Pakistan.


“Completion of FATF AML/CFT (anti-money laundering/combating the financing of terrorism) action plans by Pakistan is a great achievement,” the Inter-Services Public Relations (ISPR) said in a statement, quoting the army chief.

Meanwhile, in separate telephonic conversations, the prime minister also appreciated Foreign Minister Bilawal Bhutto-Zardari and Finance Minister Miftah Ismail for their efforts in this regard.
https://www.geo.tv/latest/423143-pm...f-after-pakistan-completes-fatfs-action-plans

 

[Abstraction1]

Didn't the crooks oppose all the legislation so that they could blackmail to get an NRO, which they eventually got from Bajwa.

[MENTION=135038]Major[/MENTION] can you respond please?

An important thing to note is how vulnerable and weak developing nations like Pakistan are. I think PTI and the handful of PDM supporters here will agree the FATF was a political tool held over Pakistan.

 

[Major]

[MENTION=135038]Major[/MENTION] can you respond please?

An important thing to note is how vulnerable and weak developing nations like Pakistan are. I think PTI and the handful of PDM supporters here will agree the FATF was a political tool held over Pakistan.

Look at the list of countries in fatf grey list and you will know it's not a political tool. All those countries with shady dealings with transactions are on there.

Pakistan has a huge issue of hundi and hawala system. Alot of money goes unreported, plus everyone knows hafiz saeed jail time would be a drama bazi

 

[Major]

Tell me what was there to debate? We were told what laws had to pass because your criminals kept laundering money or subverting the law. How did AZ and the Sharifs end up with billions abroad? So once again what did you want to debate and don't run like you fascists do.

Every bill is required debate and discussion. I understand that because pti came with a bill, and you think its gospel and cannot be challenged thus you come up with immature statements that what is there to debate

 

[Bewal Express]

Every bill is required debate and discussion. I understand that because pti came with a bill, and you think its gospel and cannot be challenged thus you come up with immature statements that what is there to debate

So once again tell me what they missed out debating. And when are your crooks going overturn those clauses

 

[Bewal Express]

Look at the list of countries in fatf grey list and you will know it's not a political tool. All those countries with shady dealings with transactions are on there.

Pakistan has a huge issue of hundi and hawala system. Alot of money goes unreported, plus everyone knows hafiz saeed jail time would be a drama bazi

PK went into the grey list twice under PPP and once under Nooras, so get it right, it was your mafia family parties that took us in and it was left to IK to sort out your mess. The fact that you guys are so dishonest and feeble to admit it says volumes about your lack of morals.

 

[Waseem]

Amazing, did she answer why she walked out when the legislation was brought forward. The gymnastics of you guys is so pathetic that you could qualify for the Olympics

Absolutely positive change, her dressing is far better, knows her brands far better than SMQ and above all, she is NEVER in the room when key decisions are taken by her party leadership so cant ever blame her for blunders.

 

[MenInG]

Foreign Minister Bilawal Bhutto-Zardari on Sunday said that the announcement by the Financial Action Task Force (FATF) plenary of granting an on-site visit to Pakistan was a ‘welcome development' as he expressed Islamabad's commitment to comply with the anti-money laundering regime.

In a statement, the minister said that the outcome was the result of concerted national efforts and complete harmony of interests by all stakeholders.

FM Bilawal also commended the “hard work and dedicated efforts” of Pakistan’s FATF team which led to the “successful” completion of all technical requirements of both action plans.

He claimed that the announcement reflected the remarkable progress made by Pakistan to enhance the effectiveness of its anti-money laundering and combating of financial terror (AML/CFT) regime.

The foreign minister maintained that Pakistan was committed to continuing the “positive trajectory” of reforming the financial sector as part of its larger strategic objective of strengthening the national economy.

He expressed confidence that the “good news” from the global dirty money watchdog would restore confidence in Pakistan’s economy and act as a catalyst for sustained growth and development.

FM Bilawal reiterated the government’s commitment to continue aligning the AML/CFT regime with global standards.

“We look forward to the on-site visit and a successful and early culmination of the process leading to Pakistan’s exit from the grey list,” he stated.

'Too early' to celebrate

A day after the FATF acknowledged Pakistan’s progress in implementing the plan of action, a junior foreign minister on Saturday cautioned against premature celebrations.

“Let’s not be overly celebratory right now,” Minister of State for Foreign Affairs Hina Rabbani Khar told a news conference soon after her arrival from Germany.

Khar led a Pakistani delegation at the FATF plenary meeting held in Berlin which decided to send its team to Pakistan in order to verify actions and steps taken by the country to implement its action plan.

The “on-site” visit is seen as a step in the right direction that may eventually lead Pakistan to exit the grey list.

Express Tribune

 

[daytrader]

FATF’s on-site visit likely in September

ISLAMABAD: Global financial crime watchdog the Financial Action Task Force (FATF) will send its on-site mission to Pakistan sometime in September, a visit anticipated by diplomatic circles in Islamabad as a “final walk-through from the FATF process” for the country.

Though the date of the mission’s visit to Islamabad is being finalised through diplomatic channels, diplomatic circles believe it would take place in the early fall.

At its last month’s plenary in Berlin, the FATF made the initial determination that Pakistan had substantially completed its two action plans covering 34 items. It will now make an on-site visit to verify that the implementation of Pakistan’s anti-money laundering (AML) and countering the financing of terrorism (CFT) has begun and is sustained and that the necessary political commitment remains in place to sustain implementation and improvement in the future.

The diplomatic circles believe that Pakistan’s moving from the grey list to the white list of the FATF will help develop a new synergy and the international financial institutions will be able to help the government in overcoming economic and financial crunch.

In its annual report for 2020-21, the FATF noted that Pakistan had made significant progress in strengthening counterterrorism financing measures, as per its original action plan.

The FATF also worked with Pakistan to develop a new action plan, which includes demonstrating that financial supervisors conduct on-site and off-site checks on non-financial sector businesses and demonstrating an increase in money laundering investigations and prosecutions, including cases of overseas financing.

The walk-through from the FATF will also pave the way for friendly countries, further strengthening economic, trade and investment relations with Pakistan, particularly the western European countries.

Pakistan is also looking to expand bilateral economic relations with the United States, and it has been learnt that the Biden administration has identified six key areas to help Pakistan, including trade, investment, energy, water, climate change and education sectors.

From Washington on Friday, US Trade Representative Katherine Tai held a virtual meeting with Commerce Minister Syed Naveed Qamar to discuss matters for promoting US-Pakistan trade and investment relations.

Pakistan is currently the 56th largest goods trading partner of the United States, with two-way trade amounting to around $6.6 billion in 2019, according to US trade office statistics. Of that, US exports totalled $2.6bn while imports stood at $3.9bn, meaning the United States was in a deficit of 1.3bn.

The United States considers that there is no threat to food security in Pakistan. However, it wants to explore new ways and means to help the country in the agricultural sector, particularly in research for developing new varieties of major crops.

US State Department’s Special Representative for Commercial and Business Affairs Dilawar Syed visited Pakistan early this month and assured Islamabad that US companies could introduce new technologies and generate returns that would translate into higher incomes for local workers and capital for additional investments.

He said the US government was exploring concrete ways to build on that relationship to benefit both the countries against the backdrop of trade and investment cooperation that was an ongoing and essential part of the bilateral relationship.

DAWN