Hafeez Shaikh led meeting discusses progress on FATF Action Plan

ISLAMABAD: The huddle of anti-money laundering Executive Committee chaired by Advisor to Prime Minister on Finance Abdul Hafeez Shaikh met today to discuss the progress made by the country in implementing the Financial Action Task Force (FATF) action plan, ARY News reported on Thursday.

Director-General (DG) Financial Monitoring Unit briefed the meeting over progress on the Action Plan to satisfy the Financial Action Task Force (FATF) concerns.

“Pakistan has made major progress in the implementation of its Action Plan and has remained successful in amending 15 laws to allay the concerns raised by the FATF,” he said in a meeting headed by Hafeez Shaikh.a

The director general said that these amendments will now aid law enforcement agencies (LEAs) in tacking the menace of money laundering.

An approval to amend and modify rules in National Savings and Pakistan Post was also sought in the meeting which has been green-lighted now.

Read More: Pakistan will soon be out of FATF grey list: Hammad Azhar

The meeting discussed the overall status of Pakistan as it awaits FATF to decide its fate later this year. Pakistan is hopeful to get out of the grey list of global trade watchdog and land in the white list to expand its trade across Europe and other countries.

Earlier, Federal Minister for Industries & Production Hammad Azhar said tough decisions to stabilize economic growth have heralded good news for the country.

He said that the government had to make tough decisions in order to get the economy in the right direction. He added that fortunately, the decision has brought good news for the economy.