The Financial Action Task Force (FATF) on Friday refrained from blacklisting Pakistan and instead decided to keep it on the “grey list” for a few more months even as the South Asian nation failed to completely plug the loopholes in its legal mechanisms.
The FATF, which held its plenary this week, noted that the Pakistan Government had made progress in implementing 21 of the 27 measures prescribed by the intergovernmental organisation, which coordinates global efforts to check the flow of funds.
But even as Pakistan failed to fully implement the June 2018 action-plan, the FATF plenary in February this year decided against putting the country on the “black-list” and give it time till the next plenary. Pakistan got another reprieve in June.
The FATF had in October 2019 set February 2020 as the deadline for Pakistan to deliver on its promises to plug the loopholes in its legal framework to squeeze flow of funds to the terrorist outfits.