Pakistan fulfills important condition of FATF, IMF

ISLAMABAD: The government of Pakistan on Thursday fulfilled an important condition of International Monetary Fund (IMF) and Financial Action Task Force (FATF), ARY News reported.

As per details, the National Assembly passed the National Anti-Money Laundering and Counter Financing of Terrorism Authority Bill 2023. It was moved by Minister of State for Foreign Affairs Hina Rabbani Khar.

The Minister of State for Foreign Affairs said this legislation is of immense importance and if enforced and properly implemented, it will make sure that Pakistan does not see the FATF’s grey list again.

Hina Rabbani Khar said the bill envisages the establishment of a National Anti-Money Laundering and Counter Financing of Terrorism Authority. She said the Chairman of the authority will be appointed by the Prime Minister.

She informed that the authority will comprise of the Secretary Finance, the Secretary Foreign Affairs, the Secretary Interior, the Governor State Bank of Pakistan, the Chairman Securities and Exchange Commission of Pakistan, the Chairman NAB, the DG FIA, the DG Anti-Narcotics Force, the Chairman FBR, the DG Financial Monitoring Unit, the National Coordinator of NACTA and the chief secretaries of the provinces.

Other bills that were passed by the house today included The Protection of Journalists and Media Professionals (Amendment) Bill, 2023, The Press, Newspapers, News Agencies and Books Registration (Amendment) Bill, 2023, Pakistan Civil Aviation Bill, 2023, the National Logistics Corporation Bill, 2023, The Gun and Country Club Bill, 2023, Pakistan Air Safety Investigation Bill, 2023 and Institute of Gujarat Bill, 2023. Later, the House was adjourned to meet again tomorrow at eleven am.