ISLAMABAD: Federal Minister for Finance and Revenue Dr Shamshad Akhtar has chaired a meeting here at the Ministry of Finance to review different Financial Action Task Force’s (FATF) related issues.
The officials of finance ministry and other departments briefed the interim minister about the challenges posed by the FATF’s decision to place Pakistan on a grey list of countries that financially support terrorism. Pakistan is required to present its Action Plan to Asia Pacific Group next week before submitting it for the FATF Plenary, scheduled to meet in the third week of June in Paris. Dr Akhtar has directed the ministry of finance to take the measures to avert possible tough sanctions in June this year.
Pakistan had recently submitted its action plan with the FATF’s Asia Pacific Group in a meeting held in Bangkok. However, the FATF’s Asia Pacific Group had expressed its dissatisfaction over the plan and directed to take concrete steps. It also asked Pakistan to put a new comprehensive action plan within two weeks, alerting that the country might end up on the blacklist of the countries’ failing to prevent terror financing. Sources said that government is working on comprehensive plan.
