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Pakistan made significant progress on FATF action plan: Hammad Azhar

Pakistan made significant progress on FATF action plan: Hammad Azhar

ISLAMABAD: Federal Minister for Economic Affairs Hammad Azhar on Saturday said Pakistan has made significant progress on implementation of a 27-point action plan of the Financial Action Task Force (FATF) in the last one year.

“14 out of 27 action items of the ICRGA Action Plan carry ‘largely complete’ status now,” he said in a Twitter statement.

The federal minister said the overwhelming majority of member countries of the anti-money laundering and counter-terrorism financing watchdog have positively acknowledged the significant progress made by Pakistan.

“Pakistan is undergoing dual scrutiny at FATF platform. Pak authorities are aiming to complete the ICRG action plan during 2020. And also working in parallel on the deficiencies of the APG MER for which we are currently in the observation period,” he explained.

In the wake of the global money laundering and terror financing watchdog’s plenary meeting in Paris, a spokesperson for the Chinese Foreign Ministry had said in a tweet on Feb 21: “Pakistan has made enormous efforts in improving its CTF regime, which has been recognized by the majority of FATF members at the latest plenary meeting in Paris.”

“China & other countries will continue offering assistance to Pakistan in this area,” the spokesperson added.