‘After fulfilling 26 out of 27 points’, FATF hands over new 7-point action plan to Pakistan, Hammad Azhar

A total of 82 deficiencies were highlighted in Pakistan's 2019 MER which were included in the POPR as 67 recommended actions in 11 IOs, on which Pakistan reported progress.

Azhar further added that Pakistan was given one of the toughest plans by the FATF and "we should be proud of the work done so far".

“FATF has given Pakistan a new action plan in addition to the plan we are already working on,” he explained.

Addressing the significance of the new 7-point action plan to tackle money laundering, Azhar said “it is important to address the new action plan to come out of the grey-list.”

When asked about FATF’s potential politicisation by countries like India, he said FATF claims to be an organization that focuses on technical issues and does not pay attention to such issues.

The minister further explained that the previous action plan that Pakistan was given was based on counter-terror financing. 

He added that Pakistan has implemented 26 out of the 27 points, and said that the last point will be implemented as well, providing "3-4 months" as the timeline for completion.

The federal minister said that FATF President Dr Marcus Pleyer has admitted that the Pakistani government has made substantial progress in making its counter-terrorist financing systems stronger and more effective. 

Azhar continued that the anti-money laundering agency decided to retain Pakistan on its grey list besides granting two years for implementing the new action plan.

However, he acknowledged that India has been trying to influence the forum, but has not been able to impact Pakistan’s case.“India with its politicisation efforts has only exposed itself,” Azhar added.

“India, with its questionable actions at the forum, has lost credibility and FATF is aware of that,” he emphasised.

Describing Pakistan’s efforts to counter India’s propaganda at FATF, he said “we have been discussing the issue with FATF's staff.”

The energy minister assured the nation that the federal government would implement the points mentioned in the anti-money laundering plan "in the next 12 months".