Washington: The outgoing chief of the international organization, Financial Action Task Force (FATF), Marshall Billingslea, has given a hint that Pakistan might be black listed by the organization if it fails to comply by the 26-point plan outlined by FATF for curbing funding for terrorism. Pakistan has repeatedly failed to follow up on its commitments.
FATF is an international organization involved in curbing money laundering and funding for terrorism. The 37 member organization is considered as the last resort to curb terror funding globally.
Marshal Billingslea said that Pakistan might be blacklisted during the organization’s meeting in Paris.
He said,”Pakistan had ‘significant’ work to do. With regard to an action plan agreed in June 2018, they are ‘lacking in almost every respect.”
Billingslea added, “Pakistan was cautioned in February at the plenary that they had missed almost all of their January milestones. They were urged to not fail to meet the milestones in May. Unfortunately, Pakistan has yet again missed its May milestones.”
FATF had handed a 26 point action plan to the Islamic nation in order for the country to show its commitment to act against terror funding. However, Pakistan has failed to demonstrate any progress and the latest meeting revised the deadline for the country to make good on its promise.
Marshal Billingslea said that the organization will consider the next course of action if Pakistanis fail to implement the action plan.
Pakistan is expected to implement the action plan by September. The recent meeting of FATF took stock of Pakistan’s performance and found out that the country fared badly on curbing terror funding.
If Pakistan is blacklisted it would mean that the country would find it hard to attract international funds which will further erode the financial status of the country. Pakistan which had been supporting terrorism as part of its policy now stares at the prospect of turning out as a failed state.
