FM Qureshi bemoans FATF's decision to retain Pakistan on its grey list

Deploring FATF's decision to retain Pakistan on its grey list, Foreign Minister Shah Mahmood Qureshi said that if it was a technical decision then country would have been added to white list

Deploring FATF's decision to retain Pakistan on its grey list, the country's Foreign Minister Shah Mahmood Qureshi on Sunday said that if it was a technical decision then the country would have been added to the white list.

"Now FATF members and the world have to decide if it is a technical or a politically motivated forum," Qureshi said while addressing media in Multan, as quoted by Ary news.

The Pakistan foreign minister said that even Financial Action Task Force (FATF) members have admitted that Pakistan has shown compliance on 26 out of 27 points of the action plan from the anti-money laundering watchdog.

In his earlier remarks, Qureshi had even claimed that 'some forces' were trying to maintain pressure on Pakistan by keeping it on the grey list of the FATF.

"Some forces want to keep the FATF sword hanging on Pakistan," Qureshi said on the watchdog's decision to keep Pakistan on the list of countries that are on increased monitoring -- more commonly called the grey list.

Last week, Pakistan was retained on the FATF's 'grey list' for failing to effectively implement the global FATF standards and over its lack of progress on investigation and prosecution of senior leaders and commanders of UN-designated terror groups.

Announcing the decision at a virtual press conference five-day plenary meeting, FATF President Dr Marcus Pleyer had said Pakistan will remain on the grey list till it addresses all items on the original action plan agreed to in June 2018 as well as all items on a parallel action plan handed out by the watchdog's regional partner - the Asia Pacific Group (APG) - in 2019.

Pleyer noted that "Pakistan has made significant progress and it has largely addressed 26 out of 27 items on the action plan it first committed to in June 2018."

He, however, added that the item on financial terrorism still needed to be addressed which concerned the "investigation and prosecution of senior leaders and commanders of UN-designated terror groups".

He also pointed out that "a separate process has been taking place over the past few years" insofar as Pakistan was concerned.

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

Pakistan is facing the difficult task of getting its name off from the FATF grey list. As things stand, Islamabad is finding it difficult to shield terror perpetrators and implement the FATF action plan at the same time.