FATF Grey List
Dawn February 23,2020 IT seems that, despite the seriousness with which Pakistan had committed itself to complying with FATF standards, the global financial watchdog is still not convinced of its progress and requires more action on some of the targets that it says have not been achieved. For now, then, Pakistan remains on the grey list. The taskforce has indicated that Pakistan will have to satisfactorily address all 27 points of the action plan by June, otherwise stricter action could be taken. For a while, there were government officials who were hopeful that Pakistan would be removed from the grey list, although some ministers did strike a cautious note, reminding people that the outcome of the February talks was not a foregone conclusion. It turns out that the optimists did not win the day. Certainly, the task before Pakistan has been gargantuan, and the fact that it has still met several FATF conditions should be appreciated. But the difficult part is clearly ...