ISLAMABAD: The Financial Action Task Force (FATF) on Thursday kept Pakistan on the gréy list for another extended period till June 2021 and asked for comply- ing with the remaining three outstanding points of total 27 action plans. The FATF asks Islamabad to address three remaining deficiencies related to terror- financing and effective im- plementation of United Na- tions Security Council (UNSC) Resolutions 1267 and 1373 against all desig- nated terrorists. “Pakistan will remain on the grey list as some deficien- cies still exist as out of 27 ac- tion plans, three still need to be addressed. I urge Pakistan to fully implement the action plan. When Pakistan com- pletes its whole action, our onsite visit will verify sustain- ability and then FATF mem- bers will decide about Pak- istan in the next plenary meeting in June 2021” the FATT's President Dr Marcus Pleyer said while addressing an online news briefing from headquarters based in Paris on Thursday. The FATF authorities pro- vided opportunity to many In- dian journalists to ask ques- tions but many Pakistani journalists could not get a chance despite raising hands in virtually addressed news briefing from FATF’s head- quarters. The FATF gauged Pak- FATF keeps Pakistan in grey list Task force recognises significant progress Pakistan made since 2018; asks for swift implementation of remaining three items before June; Pakistan has now addressed 24 out of 27 action items; finance minister says Pakistan's progress across entire action plan has been appreciated by task force istan’s progress and stated that since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/CFT (Anti-Money Laundering/ Combating the Financing of Terrorism) regime and to ad- dress its strategic counter ter- rorist financing-related deficiencies, Pakistan’s con- tinued political commitment has led to significant progress across a comprehensive CFT action plan by demonstrating that law enforcement agencies are identifying and investigating the widest range of TF [terror financing] activity, demonstrating en- forcement against TFS Continued on Page 8 SSnu ing of eer ‘om Lt. ory, the nran | made progress across all ac- progress on the entire action Hus- | tion plan items and has now plan by addressing 24 out of Ahad | largely addressed 24 of the 27 the 27 items in the action > the | action items. plan, Pakistan has also made eref- “As all action plan dead- notable progress in the re- ding |strongly urges Pakistan to also stand partially ad- n Zia | swiftly complete its full action dressed. As of now, all the 10). been | plan before June 2021,” it fur- action items pertaining to the | nders |ther stated. According to financial sector and border n the | statement issued by Pakistan's controls have been ad- ~used | Ministry of Finance on FATF's dressed. In relation to Terror- ng his | decision for keeping Islam- ism Financing (TF) investiga- ly re- | abad on grey list for another tions and prosecutions, 6 of nts of | by stating that the FATF has addressed, whereas for tar- rif, in | significant progress made on of the 9 action items also or DG | the entire action plan. _ stand addressed. The], arded| The Plenary meetings of progress on the remaining -ount- | from 22-25 February 2021, derway with obkar | where its members discussed progress made so far, Jamza | a range of topics relatingto The Ministry of Finance ranted | Pakistan's progress. reaffirmed its commitment to » High| Pakistan's delegation in continue strengthening the FATF keeps... fee ay Continued from Page 1 Chairman FATF Coordination 4 ; Committee/ Federal Minister (terror financing sanctions) for Industries and Production violations, and working to and attended by senior offi- prevent the raising and mov- cers from Ministry of Foreign ing of funds including by con- Affairs, Nacta, FMU, National trolling facilities and services FATF Secretariat and other owned or controlled by des- key stakeholders. ( ignated persons and entities, In its Plenary meeting | ( “Pakistan should continue held on 25th of February, the | to work on implementing the FATF stated that “To date, || three remaining items in its Pakistan has made progress | ( action plan to address its across all action plan items | ( strategically important defi- and has now largely ad- ciencies, namely by: (1) dressed 24 of the 27 action] demonstrating that TF inves- items.” The FATF has also ac- | tigations and prosecutions knowledged the continued || target persons and entities high-level political commit- || acting on behalf or at the di- ment of Pakistan to combat | rection of the designated per- terrorist financing which, ac- |] sons or entities; (2) demon- cording to FATF statement, | strating that TF prosecutions has led to significant) | result in effective, proportion- progress across a compre- | ‘ ate and dissuasive sanctions; hensive countering financing | « and (3) demonstrating effec- of terrorism plan. ) tive implementation of tar- Pakistan has undertaken geted financial sanctions enormous work to against all 1267 and 1373 des- strengthen its AML/CFT ignated terrorists, specifically regime and address the those acting for or on their strategic counter+errorist fi- behalf,” the FATF demanded. nancing related deficiencies. The FATF also took note In addition to the acknowl- of the significant progress edgement by FATF in its ple- made on the entire action nary statement that Pakistan plan. To date, Pakistan has has made significant lines have expired, the FATF maining 3 action items which extended period till June 2021 the 8 action items have been appreciated Pakistan for the geted financial sanctions, 8 FATF were held virtually three action items is well un- significant ay. dering | the FATF Plenary was led by AML/CFT regime in line with Muhammad Hammad Azhar, the global standards,