ISLAMABAD (our correspondent):- Pakistan has expressed its commitment to enhance the effectiveness of its Anti Money Laundering and Combating of Terrorism Financing Framework.
US delegation headed by Acting Assistant Secretary of State Alice G. Wells visited Finance Ministry here in Islamabad.
Advisor to PM on Finance Dr Abdul Hafeez Sheikh briefed the delegation.
The Adviser briefed that the government is putting in all-out efforts to complete the Action Plan of the FATF. He said that the govt has involved to all relevant authorities at the federal and provincial levels.
Sheikh also said Pakistan wants to enhance the effectiveness of its Anti Money Laundering and Combating of Terrorism Financing. The Govt also wants to ensure that all the actions are irreversible and sustainable to curb the financing, he said. The Adviser also urged for continued support of the international community for strengthening of the its Framework over a longer period of time.
Sheikh also said that the Govt has taken significant steps to bring financial discipline from last thee months. The Government has taken significant steps to bring financial discipline that include reduction in Current Account deficit, focus on increasing revenue generation, measures to reduce fiscal expenditures, reduce fiscal borrowings, efforts to enhance foreign exchange reserves through bilateral and multilateral support, arrangement of petroleum credit facility with KSA and IDB and IMF Program.
He further said that the govt is taking initiatives to resource and empower to State Bank and Federal Board of Revenue. The govt also took steps to jacked up the GDP growth and reduction in poverty in the current budget. He also said that the govt also took steps to promote export oriented industry and health insurance.
Ms. Alice G. Wells also expressed that the US would continue to remain engaged with Pakistan in its economic reforms efforts.