Crucial meeting to review Pakistan's efforts against money laundering

A crucial meeting of the Asia-Pacific Joint Group of the Financial Action Task Force (FATF) is scheduled for September 15-16 to review Pakistan's measures against money laundering

Sep 14, 2020
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A crucial meeting of the Asia-Pacific Joint Group of the Financial Action Task Force (FATF) is scheduled for September 15-16 to review Pakistan's measures against money laundering.

However, some important bills regarding the anti-money laundering, vital for Pakistan's removal from the FATF grey list, are facing blockage in Parliament due to the opposition, which is demanding to take them into confidence before their passage, The Express Tribune reported.

The Asia-Pacific Joint Group will hold a virtual meeting in which Pakistan's 27-point action plan will be reviewed.

Pakistan, the US, the UK, France and Germany would be in attendance.

China, India, New Zealand and Australia will also participate.

The recommendations will be put before the FATF on October 16.

Also on Saturday National Assembly Speaker Asad Qaiser said the government would hold consultations with leaders of various political parties before convening a joint session of parliament to pass the bills, Dawn news reported.

Pakistan was placed on the FATF's grey list in June 2018 and had to meet its 27-point action plan to avoid getting blacklisted as a non-compliant nation.

(IANS)