India on Saturday welcomed the decision of the Financial Action Task Force (FATF) which placed Pakistan in its Compliance Document (Grey list) for ICRG monitoring for failing to curb anti-terror financing despite Islamabad submitting a 26-point action plan and launching a concerted diplomatic effort to avert the decision.
Welcoming the decision, the Ministry of External Affairs said in a statement, “Pakistan has given high level political commitment to address global concerns on implementation of FATF standards for countering terror financing and anti-money laundering, especially in respect of UN designated and internationally proscribed terror entities and individuals. The freedom and impunity with which the designated terrorists like Hafiz Saeed and entities like Jamaat-Ud-Dawaa, Lashkar-e-Tayabba, Jaish-e-Mohammed continue to operate in Pakistan is not in keeping with such commitments.”
“We hope that the Financial Action Task Force (FATF) Action plan shall be complied with in a time bound manner and credible measures would be taken by Pakistan to address global concerns related to terrorism emanating from any territory under its control,” it added.
In a blow to Pakistan, the Financial Action Task Force had placed it on the ‘grey list’.
The decision was taken earlier this week at the global financial watchdog Financial Action Task Force’s (FATF) plenary session in Paris where Finance Minister Shamshad Akhtar represented Pakistan, according to official sources.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The announcement came a day after Pakistan submitted a comprehensive 26-point action plan to the FATF to choke the funding of militants groups, including Mumbai attacks mastermind Hafiz Saeed-led JuD and its affiliates, to avoid being blacklisted by it.
The placement on the grey list could hurt Pakistan’s economy as well as its international standing.
(With agency inputs)