Sydney: Reports say that the Asia Pacific Group (APG) of the Financial Action Task Force (FATF) has placed Pakistan on terror blacklist. The Islamic country was already on the grey list of the international organization which monitors the funding of terror by different countries.
The APG, which is one of the nine regional affiliates of FATF, has put Pakistan on an enhanced blacklist for its failure to meet global standards to prevent terrorist funding. Interestingly, the FATF has found that Pakistan has not complied with 32 of the 40 compliance parameters on money laundering and terror financing.
If Pakistan is black listed at the FATF then the country which is already on the verge of an economic collapse will find it hard to get foreign funds to bail out the country.
The country had been trying to salvage itself from the quagmire it has found itself but unfortunately they could not distance from the terrorism and fundamentalist elements working in the nation.
Their policy had always been to outwit India and a huge part of their expenditure were on the Military overlooking the development of their country. Now their flawed policies have come to haunt them and the nation finds itself on the edge of an economic collapse.