ISLAMABAD: A five-day meeting of the Financial Action Task Force has started in which Pakistan s performance will be reviewed on June 23. Pakistan has submitted a progress report on all 27-point action plan.
The FATF is satisfied with Pakistan’s performance so far in achieving the targets. Pakistan has made progress on all 27 targets and its report was submitted on June 15.
According to the report submitted by Pakistan, Pakistan has made strict laws for anti-money laundering and has completed the registration of 22,000 property dealers. These 22,000 property dealers will identify suspicious investors.
Pakistan has frozen the assets of banned organizations and filed cases against those responsible and stopped the transfer of gold, jewelry and property to these organizations. With modern laws, it will now be possible to identify suspicious investors in gold and jewelry in Pakistan.
Earlier, European Union had welcomed the progress made by Pakistan in the implementation of the Financial Action Task Force and its commitment to continue the engagement with FATF to address all of the remaining issues. This was acknowledged at a meeting of Pakistan-European Union Joint Commission held in Islamabad.
EU also appreciated Pakistan s efforts towards full implementation of 27 international conventions stipulated under the EU s unilateral trade preferences scheme, the Generalised Scheme of Preferences Plus (GSP+). The EU and Pakistan agreed to enhance bilateral trade, investment for improving the business climate.
