Home Business Pakistan should be taken off FATF’s grey list, says FM Qureshi

Pakistan should be taken off FATF’s grey list, says FM Qureshi

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Minister for Foreign Affairs Shah Mahmood Qureshi said on Friday that Pakistan “should, in principle, be taken off the grey list” as it has made considerable progress on the requirements of the Financial Action Task Force (FATF).

In February, Pakistan is looking to get off FATF’s ‘grey list’, on which it was placed in 2018 after the body decided that the country had failed to take enough measures to curb money laundering and terror financing.

In October last year, the FATF had reviewed the measures that Islamabad had already taken to control money laundering and terror financing. However, the meeting had observed that Islamabad would have to take further steps in this direction and decided to hold a review of its decision in February this year.

Speaking in Multan, Qureshi said that in the recent FATF meeting in Beijing, “Pakistan presented its point of view. We presented all of the practical steps we have taken in the past 10 months in front of the member nations. And I am delighted to say that everyone appreciated our efforts and said that the progress made in the past 10 months is more than the progress made in the last 10 years.”

He said that all countries — except India — agreed that progress has been made by Pakistan.

“India, of course, disagreed. But India has never wanted for Pakistan to be taken off the grey list. In fact, it wants Pakistan to be added to the blacklist,” Qureshi said.

“With this response in view, I hope that all the other FATF members will keep the issue from getting politicised in the upcoming February meeting in France.

“Pakistan’s image is being enhanced with other countries, as was evident through Prime Minister Imran’s various exchanges with world leaders at the World Economic Forum in Davos. On the other hand, The Economist, a top international publication has used the word ‘intolerant’ with India’s name in their cover story.

“As you can see, on the international front, Pakistan’s image is getting better while questions are being raised about India,” the foreign minister said. He also mentioned that the United Kingdom’s decision to soften its travel advisory for Pakistan is a huge step forward in making the country a tourist attraction.

“Japan had already done this [improve its advisory]. The United Nations has also termed Pakistan a family-friendly country. With these improvements, we will see Pakistan emerge as a top tourist spot in the year 2020,” Qureshi said.