Pakistan likely to avoid FATF blacklist: Indian media

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ISLAMABAD: Pakistan will most likely avoid the Financial Action Task Force (FATF) blacklist, an Indian publication reported on Friday.

The FATF is supposed to meet on Friday to deliberate on whether Pakistan should be placed on the blacklist of the task force.

Pakistan had earlier, under a delegation led by Economic Affairs Minister Hammad Azhar, presented a compliance report to the FATF in a meeting. The report had focused on the actions taken by Pakistan on an agreed action plan from earlier.

China is presiding over the meeting which will determine whether Pakistan will be put on the blacklist of the FATF or not. The Times of India has reported that China, Malaysia and Turkey are the three countries that have decided to back Pakistan in its bid to stay on the grey list.

A country needs at least three votes to avoid getting blacklisted from the FATF. The FATF had placed Pakistan on the grey list last year of countries that were responsible for terror financing and given Islamabad a 27-point action plan.

In June, the FATF gave Pakistan four more months to work on its agenda. A few days ago, it started reviewing Pakistan’s compliance report.

If blacklisted from the financial body, Pakistan will face sanctions from the G-7 countries and trade penalties. Countries on the grey list do not get penalised.