Adviser to the Prime Minister, Miftah Ismail, has confirmed that Pakistan would be placed in grey list of Financial Action Task Force (FATF) in June. At Aaj News programme 'G for Gharidah,' he said Saturday that sanctions are not imposed on the countries that are named in the grey list of the FATF but inclusion in that list brings them under observation/under monitoring.
He said Pakistan was also named in grey list from 2012 to 2015. Miftah said that the United States had exerted pressure on the GCC countries in first phase. He clarified that Chinese didn't vote in favour of Pakistan for some reasons but they got Pakistan a supportive vote from Singapore. He said Pakistan needs to work out an action plan with the FATF.
However, former ambassador to United States Sherry Rehman and former foreign minister Khurshid Mehmood Kasuri criticised the government for FATF-related issues. Sherry said the episode began in November last year but the government failed to take needed steps to avoid inclusion in grey list. She said Pakistan was placed in the grey list twice in the past.
Kasuri said the government was trying to cover up its inabilities. He said Saudi Arabia also didn't support Pakistan due to US (pressure). Sherry disagreed with the notion of Miftah who played down the FATF-related development saying it would not affect Pakistan. She said that inclusion in grey list would cause negative impacts on Pakistan's economy.
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