China declines to comment on FATF placing Pak on 'grey list'; praises its counter-terror effort

China today declined to comment on Pakistan being placed on the grey list for failing to curb anti-terror financing by the Financial Action Task Force, but heaped customary praise on its close ally, saying the world should recognise "enormous efforts and sacrifices" made by Islamabad to combat terrorism.

In a blow to Pakistan, global financial watchdog FATF placed it on the grey list for failing to curb anti-terror financing despite Islamabad submitting a 26-point action plan and launching a concerted diplomatic effort to avert the decision.

"We will not make comment on the decision of the task force. But we understand Pakistan has made enormous efforts for the counter-terrorism and made great sacrifices," Chinese Foreign Ministry spokesman Lu Kang said at a media briefing here when asked about the FATF's decision.

"The international community should view this in an objective and just way. The international community should give more support and recognition to Pakistan," he said.

Lu said Pakistan's effort in counter-terrorism has not only won recognition from China, but also from many countries around the world.

"We always believe Pakistan government and people have made enormous efforts and sacrifice on counter-terrorism, and the international community should fully recognise this," he said, reiterating China's oft repeated stand praising Pakistan's record on counter-terrorism.

He said Pakistan in his recent years has taken positive measures to enhance financial regulation, combat terrorism financing and made very important progress.

"We hope all relevant parties can view the efforts made by Pakistan in objective way instead of accusing and pressuring Pakistan. China and Pakistan have an all-weather strategic cooperative partnership, and China is willing to enhance cooperation on counter-terrorism with Pakistan," he said.

The placement of Pakistan on the grey list of the FATF could hurt Pakistan's economy as well as its international standing.

Pakistan had tried hard to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing rules.

The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.