'Pakistan should expose Indian conspiracy after becoming FATF member'

Pakistan Tehreek-e-Insaf (PTI) leader Hammad Azhar said Friday that Pakistan should expose the Indian conspiracy after becoming a member of the Financial Action Task Force (FATF), ARY News reported.

While talking to ARY News, Hammad Azhar said that India had used FATF platform against Pakistan.

Azhar, who had also represented Pakistan in the FATF sessions during PTI government, congratulated the nation after the country came out of the grey list.

He gave credit to Imran Khan-led government as the previous government paved way for the country exit the FATF grey list.

He criticised that the Pakistan Democratic Movement (PDM) parties had created hurdles in legislation related to the FATF action plan and sought NRO.

“Pakistan should apply for FATF members to expose Indian conspiracy. India had used FATF platform against Pakistan. It is the right time for Pakistan to become a member of the FATF and spot Indian regulations,” Azhar suggested.

Pakistan out of FATF grey list after four years

The Financial Action Task Force (FATF) has announced the removal of Pakistan from its grey list, appreciating the country’s efforts in anti-money laundering and anti-terror financing.

The Financial Action Task Force has decided by consensus that Pakistan has completed all substantial, technical and procedural requirements of both the 2018 and 2021 Action Plans. As a result, Pakistan has been taken off the list of jurisdictions under increased monitoring, with immediate effect.

This decision was taken during the FATF Plenary meeting held in Paris, France from 20-21 October 2022. Minister of State for Foreign Affairs/Chairperson National FATF Coordination Committee, Ms Hina Rabbani Khar, led the Pakistan delegation to the FATF Plenary.

Pakistan has made enormous progress in the Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) domain over the course of fulfilling the requirements of both Action Plans. Despite many challenges, including the Covid-19 pandemic, Pakistan continued the reform trajectory and sustained the high-level political commitment to aligning its domestic AML/CFT regime with international best practices.

Achieving FATF targets was a whole-of-nation endeavour. Multiple ministries, departments and agencies, both at the Federal and Provincial levels, contributed to achieving this national objective. The engagement with FATF has led to strategic improvements in Pakistan’s laws and procedures, making its domestic AML/CFT regime more resilient to cope with current and future challenges.