World

Pakistan unlikely to exit FATF grey list: Report

Pakistan is unlikely to exit the Financial Action Task Force (FATF) grey list as it has been unable to comply with six of the 27 points in the global watchdogs action plan, a media report said citing diplomatic sources as saying.

migrator

Updated:21st Oct, 2020 at 10:43 AM

Islamabad

The Express Tribune report quoted the sources as saying on Tuesday that Pakistan will "succeed in exiting the grey list by June next year".

The report came a day ahead of the group's virtual plenary session which will review Pakistan's progress on the 27-point action plan.

The session will conclude on Friday.

Pakistan was placed on the grey list in June 2018 for failing to take adequate measures against money laundering and terror financing.

It was then given a 27-point action plan with a warning that failing to implement it would lead to its blacklisting.

Pakistan won a three-month further extension to complete its 27-point action plan because of the coronavirus pandemic.

The deadline was June this year but the FATF extended it due to the postponement of its plenary.