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Specific Actions Taken To Save Country From Inclusion In FATF Grey List: Miftah

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ISLAMABAD, May 24 (APP):Pakistan has taken specific actions to save the country from being

included in the Grey List by Financial Action Task Force (FATF),
Finance Minister, Dr. Miftah Ismail said.
In a written reply to National Assembly, the minister informed
that Pakistan had been nominated by FATF for the Grey List during
February 2018, Plenary meeting, however, official intimation is yet
to be received from FATF.
However, he added prior to the next FATF Plenary scheduled
in June 2018 on the areas identified by the FATF, an Action Plan
with time-frame, will be developed. The agreed action plan by
Pakistan would be placed in the next Plenary of FATF for its
implementation, he added.
The minister said that the government had taken many specific
actions which include curtailment of capacity of the entities of concern
to raise funds, enhanced coordination between the agencies of the
Federal and Provincial government on Combating Financing of
Terrorism (CFT) measures, regulatory and supervisory measures
taken by the SBP to prevent the use of financial sector by the
entities of concern.
He said the steps included taking control over the moveable
and immoveable assets and the welfare services that were
operated by the entities of concern while all health and medical
services provided by the entities of concern including ambulances
operated by Falah-e-Insaniat Foundation (FiF) is taken over by the
Pakistan Red Crescent Society.
All the educational and social welfare institutions, run by these
entities were taken over by the relevant departments of the provincial
governments while appointment of official administrators for each and
every institution, taken over in this month, he added.
He said all the signboards and posters of the entities of concern
have been removed from the facilities that have been taken over and
the same were replaced with that of the relevant government
departments.
He said that these actions demonstrated the high level of political
commitment of the Government of Pakistan to implement its international
obligations under the UNSCR and FATF recommendations.
Moreover, additional required actions were under way, which will
be highlighted during the next FATF plenary to be held on June 2018,
he added.

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