'Historic day': FATF-related bills sail through National Assembly

ISLAMABAD: The National Assembly on Wednesday passed FATF-related bills aimed at checking money laundering and terror financing after the government and the opposition evolved consensus paving the way for their smooth passage from the house.

The house approved the Anti-Terrorism (Amendment) Bill 2020, the Limited Liability Partnership (Amendment) Bill 2020, the Companies (Amendment) Bill 2020, the Control of Narcotic Substances (Amendment) Bill 2020, and the Islamabad Capital Territory Trust Bill 2020.

Taking the floor, Foreign Minister Shah Mahmood Qureshi said terror financing and money laundering are the menace that Pakistan has to confront and weed out. He said the government held lengthy discussions with opposition parties to develop a consensus on FATF-related legislation.

He said positive suggestions put forth by the opposition have been incorporated in the bills.

Law Minister Farooq Naseem said it is a historic day as the FATF-related legislation is being carried out with consensus in the larger interest of the country. He said whitening the economy and checking terror financing is important to take the country forward on the path of development.

It is also the government’s aim to simplify the legislation and ensure protection of fundamental rights of the people, he maintained.