_Vinayak Barot
New Delhi, November 3: On the basis of several points and considerations, the Financial Action Task Force (FATF) may shift Pakistan from ‘Grey List’ to ‘Black List’. The FATF may choke all financial aid to Pakistan which Islamabad government receives from outside. It is very simple and clear that any strict actions of the Financial Action Task Force (FATF) against Pakistan could increase trouble to China.
China has invested billions of dollars in Pakistan to develop good relations with Islamabad and counter India from the western side, but the FATF’s black list will be a more stringent form of punishment for economically wobbly and cash-strapped Pakistan. Pakistan on the black list may stop the Chinese investments in Pakistan also.
A few days back – FATF President Dr. Marcus Pleyer has said that “The decision to include Pakistan in the grey list of the Financial Action Task Force (FATF) was taken by consensus and not by just one country.
Speaking at a press conference, Pleyer also dismissed reports of any possible political connotation regarding the global financial watchdog’s decision.
Pleyer at the Paris bases watchdog clarify that “FATF is a technical body and we take our decision by consensus, so not only one country that makes the decision, the FATF contains 39 jurisdictions and also the decision on Pakistan was taken by consensus.”
Pakistan-supportive country Turkey was too placed on the FATF’s ‘grey list’ for failing to check terror financing. Turkey will now give company to its ‘brother’ Pakistan, along with over two dozen countries on the FATF grey list.
The publication stated that a case for shifting Pakistan to the black list has always looked strong but Turkey’s slide into the grey list deprives Pakistan of vital support.
“The only other steadfast supporters of Pakistan left in FATF are China and Mongolia. And unless Pakistan is able to get the support of a third member, it will find it difficult to avoid black listing, should FATF conclude at its preliminary in March-April next year that Pakistan deserves the worst. The ball is truly in the court of Imran Khan who has pledged to turn Pakistan into ‘Riyasat-e-Madina’ – an Islamic welfare state like the state of Madina,” the report added.