With Support From China, Pakistan May Be Out Of FATF 'Grey List' Next Month

With active support from China and tactical backing of some Western countries, Pakistan may be out of the 'Grey List' of the international terror financing watchdog Financial Action Task Force or FATF. Pakistan submitted its compliance report at a meeting of the FATF in Beijing on Thursday and succeeded in getting support from the FATF current chair China and a few Western powers.

"The next plenary of the FATF will be held in February in Paris and Pakistan needs just 12 votes out of 39 to exit the 'Grey List' and move to 'White List'. There is a strong possibility of Islamabad getting enough support to exit the 'Grey List'," an Indian official privy to the development said.

Extending support to Pakistan, Beijing on Today's meeting said that Islamabad has made "visible progress" to strengthen its counter terrorism financing system, which should be encouraged by the world community.

A Pakistani delegation led by Minister for Economic Affairs Division Hammad Azhar briefed the financial task force about the steps taken by Islamabad to implement the recommendations made by the FATF.

"As FATF president and co-chair for Asia Pacific Joint Group, China will continue to uphold an objective, just and constructive attitude and participate in relevant discussions," he said.

The FATF in October last decided to keep Pakistan on its 'Grey' list for failure to curb funnelling of funds to terror groups Lashkar-e-Taiba, Jaish-e-Mohammad and others. If not removed off the list by April, Pakistan may move to a blacklist of countries that face severe economic sanctions, such as Iran. (With inputs from PTI)