A top US diplomat has said that not fulfilling the obligations of the Economic Action Task Force (FATF) will have a disastrous effect on Pakistan‘s economic reform program.
Washington: A top US diplomat has said that not fulfilling the obligations of the Economic Action Task Force (FATF) will have a disastrous effect on Pakistan’s economic reform program.
Acting Assistant Secretary of State for South and Central Asia Alice Wells made this remark on Friday.
A day earlier, Pakistan’s Foreign Minister Shah Mahmood Qureshi had saying that the country should be exclude from the ‘gray list’ of the FATF
As it has made significant progress on the requirements of the international body tracking terrorism funding.
Wells told reporters in Washington.
“Obviously if Pakistan does not fulfill the obligations of the FATF and comes on the black list, it would be disastrous for Pakistan’s economic reform program and its ability to attract the FATF.”
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Welles, who recently returns to the region, including Islamabad, said, “We are happy to see Pakistan’s progress towards fulfilling the obligations of the FATF.
” If it does not meet, then the funding by the International Monetary Fund may be affecting.
The Pakistan delegation led by Pakistan’s Economic Affairs Division Minister Hammad Azhar is in Beijing to inform the Economic Action Force about the steps taken by Islamabad to implement the FATF’s recommendations.
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The FATF last October decided to put Pakistan on the ‘gray’ list for its failure to curb funding of Lashkar-e-Taiba, Jaish-e-Mohammed and other terrorist groups.
If it does not withdraw from this list by April, Pakistan can be blacklisting, which may face severe economic sanctions.