Pakistan to remain on FATF grey list

The Financial Action Task Force (FATF) announced on Friday that Pakistan will continue to remain on the watchdog's "increased monitoring list", also known as the grey list, till it addresses all items on the original action plan agreed to in June 2018 as well as all items on a parallel action plan handed out by the watchdog's regional partner – the Asia Pacific Group (APG) – in 2019.

Announcing the decision in a virtual press conference after the financial watchdog's five-day plenary meeting, FATF President Dr Marcus Pleyer said, "Pakistan has made significant progress and it has largely addressed 26 out of 27 items on the action plan it first committed to in June 2018."

Pleyer, however, added that the item on financial terrorism still needed to be addressed which concerned the "investigation and prosecution of senior leaders and commanders of UN-designated terror groups".

He also pointed out that "a separate process has been taking place over the past few years" insofar as Pakistan was concerned.