Pakistan may be removed from FATF's 'grey' list, economic relief expected after 4 years

 

The FATF chairman had said that Pakistan would remain on the gray list until the conditions included in the action plan decided in June 2018. He had said that the issue of financial terrorism is yet to be tackled.

Pakistan may get good news soon.

It is reported that the neighboring country may be out of the gray list of the Financial Action Task Force (FATF).The FATF is going to meet in Germany from 14 to 17 June.

The special thing is that Pakistan is in the gray list since June 2018.Experts believe that Pakistan has suffered a GDP loss of billions of dollars due to being in the gray list.

According to the India Today report, Pakistan may be removed from the gray list of FATF. 

The announcement could be made at the FATF meeting to be held in Berlin this week. 

A FATF team will visit Pakistan to gather information on compliance with the conditions.

An official announcement from the FATF will be made in October.

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The report quoted sources as saying that out of 27 included in the 2018 Action Plan, Pakistan has fulfilled 26 conditions.

At the same time, 6 out of 7 conditions of the FATF's Asia Pacific Group (APG) 2021 Action Plan have been met.

The upcoming event in Berlin will be a hybrid, with a significant number of in-person arrivals.

The FATF chairman had said that Pakistan would remain on the gray list until the conditions included in the action plan decided in June 2018.However, the Speaker also said that the issue of financial terrorism is yet to be resolved.

Here, the opposition parties in Pakistan are targeting the former government of Imran Khan over the gray list.