This year in June, the FATF decided to keep Pakistan on its grey list due to strategic shortcomings in its anti-money laundering and terror-financing regulations in a meeting held in Paris, France. The decision was made despite Pakistan's progress in the majority of the areas identified as grey areas by the international terror financing watchdog. Interim Finance Minister Dr Shamshad Akhtar presented a strong case during the meeting to have Pakistan's name removed from the grey list, but the watchdog found it short of the strength to exclude the country from the infamous list.
It gave the country a 15-month dateline to comply with 26 points of FATF action plan to get off the task force's grey list.
The previous PPP and PML-N governments failed to strengthen the Anti-Money Laundering law to protect the vested interest although Pakistan was placed on grey list in 2012 and removed from it in 2015 when the government assured the UN that it is serious to streamline the anti-money laundering and counter terrorism financing regime.
The envoy said that the EU is keen to work with new government, and is ready to work in collaboration with the new government in security, economy, GSP, education and rural development sectors.
He also said that he would assist the government in its endeavor to attract EU member countries for making investment in the Pakistan, as the EU wants stability and development in the country.