ISLAMABAD:
The day after the Financial Action Task Force (FATF) recognized progress in plan implementation of action, junior foreign minister on Saturday warned against “premature celebrations”.
“Let’s not overly festive right now,” the minister said of State for Ministry of Foreign Affairs Hina Rabbani Khar said news conference soon after her arrival from Germany.
Khar led the Pakistani delegation to the FATF plenary meeting. in Berlin, which decided to send team to Pakistan in to check actions and steps taken by the country to implement its action plan.
“on site visit is considered as step in right direction what can in the end lead Pakistan comes out of the gray list. Pakistan was on FATF watch list since June 2018 because of limitations in their systems to curb money laundering as well as terror financing.
The process has started and on- there is a visit to the object, and even after that our journey will continue, strengthening of legislation and administration will continue,” the statement continued.
But in this is latest FATF meeting noted that Pakistan made significant progress which guaranteedon- Visiting the site. However, the FATF President made it clear that Pakistan will only removed from gray list after a positive evaluation of in team it will do’on- site check.
Read more: Pakistan barely comes out of the gray list
Officials dealing with with in issue believe that Pakistan needs to exercise caution as it must demonstrate to the visiting FATF team that all his actions are stable and irreversible. Focus of FATF team most likely to be on certain persons who were convicted in another terror funding cases.
But despite the word of caution, condition minister hoped Pakistan successfully complete in final phase of FATF process.
reason for her optimism stemmed from fact, in in the minister’s own words, that the FATF has now recognized by consensus that all actions items mainly considered by Pakistan. “Action plan for 2018 closed with no waiting of action on part of Pakistan.”
According to the Action Plan for 2021, which mainly focused on money laundering questions, Pakistan presented three progress reports. “I am very pleased to announce that Pakistan has completed the implementation of the entire Seven Point Action Plan. year forthcoming of deadlines,” she said.
She claimed to be fast pace as well as progress was indicative of comprehensive reforms and actions that have been carried out out Pakistan in AML/CFT area and sustained momentum of our efforts. Pakistan positive and fast progress was highly appreciated and approved by the FATF members.
As a result of the fruitful discussions in FATF Plenary decided by consensus that Pakistan had reviewed all technical benchmarks and met all requirements of both action plans.
See also: restrained optimism in official circles
“How result of this is great achievementfatf approved on-Visit site of his technical team to Pakistan to confirm the process of implementation of reforms,” Khar said.
she left on say successful completion of The FATF Action Plans and its formal FATF endorsement “means that Pakistan one step away from the way out of the gray list”.
“Visiting a facility is a procedural requirement,” she said, adding: “This marks the beginning of end process that will eventually terminate in exit of Pakistan from FATF Greylist list”.
As regards timing of on the visit, she said: “We work closely together with FATF for the organization on- Departure to the object on mutually convenient dates with a view complete the entire process as early as possible and before next FATF Plenary in October 2022”.
“I want take this opportunity to stress once again that Pakistan’s cooperation with FATF and international community grounded in our strategic goal of strengthening our economy and further improvement of its integration with in international financial system. I’m sure it is good news from FATF will restore confidence in our economy will give this is a much-needed boost that will improve the investment climate.”
“I also want recognize tireless efforts of our teams who worked day and night to achieve our goals and fulfill the FATF Action Plans. It was indeed whole of country response. Several ministries, departments and agencies at all levels of the government helped national cause. it also shows that when we work together with feeling of we can achieve wonderful things.”
In response to a question, she said: “We give credit, as I said anyone who strives for this and deservedly so, because this is not some kind of political party agenda. This is the agenda of Pakistan. Per uswe need to be mature about it. For us it will be win-win if everyone thinks they have stakes in This is true indeed previous government has stakes in It.”
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