ISLAMABAD (Ahmed Mughal):- Pakistani delegation headed by Secretary Finance will leave for China to present compliance report in The Financial Action Task Force meeting to remove the country from FATF gray list.

The FATF had put Pakistan in its grey list from White list in last year.   

The FATF’s meeting is schedule from 15th May to 17th May in Beijing, China. Secretary Finance Younus Dagha will lead the 10-member Pakistani deletion in the importance meeting. Officials from NECTA, FMU, SECP, FBR and Law Division will also part of the delegation.

Sources in Finance Ministry told the scribe that Pakistan has done lot of thing in response of compliance of Asia Pacific Group. The APG recommended steps to Pakistani govt for removing the country’s name from gray list.

Sources that the meeting will focus more on currency smuggling issue. The Group considers this menace is used for money laundering and terrorism financing, sources further said.

steps in compliance

In this regard, Pakistan has also established a Directorate of Cross Border Currency Management Under I&I Customs, they further said. The Govt also issued its scope and powers of the Directorate of Cross Border Management.

Sources also said the Federal Cabinet also approved to sign a MoU with Dubai to sharing the information of money laundering. Under this MoU, Pakistan’s Financial Monitoring Unite and Dubai Authorities will also share the information in this regard.

Sources also told the scribe that Cabinet also approved a law related to powers of provincials Anti terrorism Departments.

They also said that Govt also presented the amendment bill on Anti Money Bill in Parliament. The Finance Committee is reviewing the law and its impact with clause by clause.

Some opposition members of the committee expressed concerns of the proposed draft, sources further said.

The Finance Ministry had also briefed the Standing Committee on Finance of National Assembly couple of weeks ago. The members also were very optimistic that the FATF will remove Pakistan from grey list to put it in its white list.


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