FATF grey list: Hina Rabbani Khar elaborates on Pakistan's expected exit

BERLIN: Minister of State for Foreign Affairs Hina Rabbani Khar has congratulated the country after the Financial Action Task Force (FATF) acknowledged that Pakistan has completed the action plans and authorized an on-site visit, ARY News reported on Friday.

In a video message, Hina Rabbani Khar pointed out that the financial watchdog has acknowledged completion of Pakistan’s both action plans and hoped that the country would exit the grey list after an on-site visit in October.

Giving further details, Khar said: “Now our process of exiting the grey list as per the FATF procedure starts, according to which a technical evaluation team will be sent to Pakistan.”

#FATF has acknowledged completion of Pakistan’s both Action Plans (2018 & 2021) and has authorized onsite visit to Pakistan, as final step to exit from FATF’s grey list: MOS for Foreign Affairs @HinaRKhar @ForeignOfficePk pic.twitter.com/pUsfDSILlk

— Radio Pakistan (@RadioPakistan) June 17, 2022

“It is our full effort that this team completes its work before October’s plenary cycle and we have told them that we will ensure their comfort and ease,” she said, adding that the process would come to an end in October.

It is pertinent to mention here that the Financial Action Task Force (FATF) acknowledged that Pakistan has  “substantially completed its two action plans”, saying that the watchdog will now schedule an on-site visit to verify the implementation of the measures.

However, Pakistan has not been formally removed from the FATF’s grey list. In a statement, the watchdog acknowledged that Pakistan has completed both its action plans, covering 34 items and said this showed the necessary political commitment was in place to sustain implementation and improvement in the future.