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  • Feb 21st, 2018
  • Comments Off on FATF meeting at Paris: Pakistan faces tough prospects
A delegation comprising officials from finance and interior ministries reached Paris earlier Tuesday to plead Pakistan's case at the ongoing meeting of the Financial Action Task Force (FATF) - a global body that combats terrorist financing and money laundering.

The delegation, led by Director-General Financial Monitoring Unit Syed Mansoor Shah, and comprising members of the Foreign and Interior ministries, will defend Pakistan's position at the FATF meeting, where a resolution sponsored by the United States and supported by its allies is considering placing Pakistan on a watchlist of countries that financially aid terrorism.

Adviser to Prime Minister on Finance Dr Miftah Ismail has also reached Paris to attend the meeting. Official sources revealed earlier that Ismail visited Germany, the Netherlands and Belgium last week with a view to garnering support against the US move.

Sources said of the 35 permanent members of the FATF, only China supports Pakistan whereas the rest are likely to fall behind the US resolution. Pakistan's international credit rating could suffer a setback as a result of being placed on the list, as several global financial institutions are influenced by the FATF, which includes around 700 members in total, including the United Nations, the European Commission, the International Monetary Fund and the World Bank.

Copyright Independent News Pakistan, 2018


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