Pakistan commits to work with FATF, world bodies
islamabad — The National Security Committee (NSC) on Friday discussed the Financial Action Task Force (FATF) meeting scheduled to be held in Paris later this month.
The meeting was held under the chairmanship of caretaker Prime Minister Nasirul Mulk which also reviewed the overall security situation in the country
The NSC reaffirmed its commitment to cooperate with the Financial Action Task Force (FATF) for addressing shortcomings in the country’s anti-money laundering and counter-terror financing regimes, a media report said.
“The committee reaffirmed the commitment of the country to work with FATF and other international organisations in achieving common goals and shared objectives,” a statement issued by the Prime Minister’s Office said.
Pakistan would be placed on the FATF ‘grey list’ because of certain shortcomings identified by the watchdog. However, before Pakistan is put on the list an action plan has to be negotiated outlining the steps the country would be required to take. The action plan has been in
The committee reaffirmed the commitment of the country to work with FATF in achieving common goals and shared objectives PM House statement
the works for weeks now, but it is yet to be adopted.
The NSC approved the presentation of the proposed plan to the FATF at its upcoming meeting.
The NSC statement effectively constitutes the high-level political commitment that FATF requires from the country to implement the legal, regulatory and operational reforms needed.
Finance Minister Shamshad Akhtar briefed the NSC about the upcoming FATF meeting in Paris and the measures, both administrative and legal, taken so far by the country to meet the watchdog’s requirements.
“While reviewing various actions taken towards fulfilling country’s international responsibilities under the Financial Action Task Force (FATF) framework, the meeting expressed satisfaction over the progress made so far. The committee directed that the progress should be shared with the FATF Secretariat in the upcoming meeting,” the NSC statement said.
The meeting was attended by Minister for Defence/Foreign Affairs Abdullah Haroon, Minister for Finance Shamshad Akhtar, Minister for Interior Azam Khan, Minister for Law/Information Syed Ali Zafar, Chairman of Joint Chiefs of Staff Committee General Zubair Mahmood Hayat, Chief of Army Staff General Qamar Javed Bajwa, Chief of Naval Staff Admiral Zafar Mahmood Abbasi, Chief of Air Staff Air Chief Marshal Mujahid Anwar Khan and other officials.