ISLAMABAD: Pakistan's inner minister mentioned on Saturday that authorities were taking steps to not please the US however for the rustic's personal get advantages, an afternoon after Islamabad avoided being placed in a watch-list via a global watchdog.
Pakistan escaped from being placed at the watch-list of nations that experience did not fight terror financing and counter money laundering, state-run Pakistan Television reported.
The Financial Action Task Force (FATF), in a report issued the day before today, named nine international locations with "strategic deficiencies," together with Iraq, Syria, Yemen and Tunisia. Pakistan escaped mention.
Interior minister Ahsan Iqbal mentioned that the FATF will decide in June whether or not to put Pakistan at the 'grey record' of nations with strategic deficiencies that pose a possibility to the global financial device.
The resolution was once taken at an bizarre 2nd vote against the end of the five-day plenary session of the group in Paris, he mentioned.
It was once a shock for Pakistan as just two days ago the motion was once defeated within the first round of debate however officials mentioned that the US used its clout to name for a a hit 2nd vote, the minister mentioned.
"The resolution against us was political and used to pressurise Pakistan... We are taking steps not to please the US but for our own benefit. We will follow our own agenda to achieve national goals," Iqbal advised journalists in Lahore.
Pakistan was once at the 'grey record' from 2012 to 2015 but it surely didn't have an effect on the financial system in that length, he mentioned.
Earlier, Foreign Minister Khawaja Asif had claimed that Pakistan was once given a three-month reprieve to take measures to keep away from being placed within the 'grey record' of the group.
Currently, the FATF's web site shows Ethiopia, Iraq, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu and Yemen within the 'grey record'.
Meanwhile, Dawn newspaper reported that Adviser to the Prime Minister on Finance Miftah Ismail, who led Pakistan's FATF moot, mentioned Pakistan is ready to be "grey listed" via the FATF in June.
Pakistan and the FATF will figure out an "action plan" to plug the deficiencies, he mentioned, adding that an action plan will probably be put up for approval via consensus in June.
After that, implementation of the plan will start, monitored via the Asia Pacific Group, part of the global FATF community, Ismail mentioned.
The failure to construct consensus at the action plan could result in striking Pakistan at the black record, which these days carried out simplest to Iran and North Korea, he mentioned.
Ismail mentioned that the 'grey record' status does little greater than raising the compliance burden on opposite numbers, akin to correspondent banks, dealing with entities within Pakistan's financial device, and due to this fact attaches an extra cost to many exterior sector transactions.
The US and the UK had jointly moved the FATF nominating Pakistan for placement at the 'grey record' and were therefore joined via France and Germany, he mentioned.
The report mentioned that the accusation in opposition to Pakistan was once that it had no longer taken action on one of the crucial entities and folks designated as terrorists via the UN Security Council Resolution 1267.
More specifically the worry was once about Hafiz Saeed's Jamaat-ud-Dawa (JuD) and Falah-i-Insaniyat Foundation (FIF) being allowed to perform within the country, and Saeed being free to organise rallies and lift budget, it mentioned.
"Pakistan has serious concerns over and objections to the introduction of this new 'nomination' procedure, which is unprecedented and in clear violation of established rules/practices of the FATF," mentioned Foreign Office spokesman Dr Mohammad Faisal.
Days prior to the FATF assembly, Pakistan had amended the anti-terror regulation via a presidential ordinance to incorporate all UN-listed folks and teams within the national listings of proscribed outfits and individuals.
Similarly, a press release was once additionally made to deploy troops in Saudi Arabia to fulfill a key call for of the dominion so to get the an important Gulf Cooperation Council vote at the FATF.
Pakistan escaped from being placed at the watch-list of nations that experience did not fight terror financing and counter money laundering, state-run Pakistan Television reported.
The Financial Action Task Force (FATF), in a report issued the day before today, named nine international locations with "strategic deficiencies," together with Iraq, Syria, Yemen and Tunisia. Pakistan escaped mention.
Interior minister Ahsan Iqbal mentioned that the FATF will decide in June whether or not to put Pakistan at the 'grey record' of nations with strategic deficiencies that pose a possibility to the global financial device.
The resolution was once taken at an bizarre 2nd vote against the end of the five-day plenary session of the group in Paris, he mentioned.
It was once a shock for Pakistan as just two days ago the motion was once defeated within the first round of debate however officials mentioned that the US used its clout to name for a a hit 2nd vote, the minister mentioned.
"The resolution against us was political and used to pressurise Pakistan... We are taking steps not to please the US but for our own benefit. We will follow our own agenda to achieve national goals," Iqbal advised journalists in Lahore.
Pakistan was once at the 'grey record' from 2012 to 2015 but it surely didn't have an effect on the financial system in that length, he mentioned.
Earlier, Foreign Minister Khawaja Asif had claimed that Pakistan was once given a three-month reprieve to take measures to keep away from being placed within the 'grey record' of the group.
Currently, the FATF's web site shows Ethiopia, Iraq, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu and Yemen within the 'grey record'.
Meanwhile, Dawn newspaper reported that Adviser to the Prime Minister on Finance Miftah Ismail, who led Pakistan's FATF moot, mentioned Pakistan is ready to be "grey listed" via the FATF in June.
Pakistan and the FATF will figure out an "action plan" to plug the deficiencies, he mentioned, adding that an action plan will probably be put up for approval via consensus in June.
After that, implementation of the plan will start, monitored via the Asia Pacific Group, part of the global FATF community, Ismail mentioned.
The failure to construct consensus at the action plan could result in striking Pakistan at the black record, which these days carried out simplest to Iran and North Korea, he mentioned.
Ismail mentioned that the 'grey record' status does little greater than raising the compliance burden on opposite numbers, akin to correspondent banks, dealing with entities within Pakistan's financial device, and due to this fact attaches an extra cost to many exterior sector transactions.
The US and the UK had jointly moved the FATF nominating Pakistan for placement at the 'grey record' and were therefore joined via France and Germany, he mentioned.
The report mentioned that the accusation in opposition to Pakistan was once that it had no longer taken action on one of the crucial entities and folks designated as terrorists via the UN Security Council Resolution 1267.
More specifically the worry was once about Hafiz Saeed's Jamaat-ud-Dawa (JuD) and Falah-i-Insaniyat Foundation (FIF) being allowed to perform within the country, and Saeed being free to organise rallies and lift budget, it mentioned.
"Pakistan has serious concerns over and objections to the introduction of this new 'nomination' procedure, which is unprecedented and in clear violation of established rules/practices of the FATF," mentioned Foreign Office spokesman Dr Mohammad Faisal.
Days prior to the FATF assembly, Pakistan had amended the anti-terror regulation via a presidential ordinance to incorporate all UN-listed folks and teams within the national listings of proscribed outfits and individuals.
Similarly, a press release was once additionally made to deploy troops in Saudi Arabia to fulfill a key call for of the dominion so to get the an important Gulf Cooperation Council vote at the FATF.
Taking steps not to please US but for own benefit: Pak
![Taking steps not to please US but for own benefit: Pak]()
Reviewed by Kailash
on
February 25, 2018
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