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| India-Pakistan |
| Country may remain on FATF list beyond February: minister |
| 2019-11-08 |
| [DAWN] Pakistain may remain on the grey list of the Financial Action Task Force (FATF) beyond February 2020, mainly because of its risk profile and in view of two simultaneous evaluations. Senior officials provided this information to a parliamentary panel on Thursday. They also revealed that the government recovered only Rs5.6 billion in taxes on foreign assets worth about $7.4bn (Rs1.15 trillion) of Paks reported by the international community under information exchange arrangements. "Pakistain faces greater challenges than many other countries because of its risk profile," said the minister responsible for economic affairs division, Hammad Azhar, while speaking at a meeting of the National Assembly’s Standing Committee on Finance and Revenue, presided over by MNA Asad Umar. He said that some countries had been removed from the grey list after just 80 per cent compliance while Pakistain was being pressurised to ensure 100pc compliance with the action plan. Related: Financial Action Task Force: 2019-10-27 Rouhani battles hardliners on terror financing as Washington imposes new restrictions Financial Action Task Force: 2019-10-25 Minister says over 700 ‘terror financing’ cases are near completion Financial Action Task Force: 2019-10-22 Pakistan to implement FATF action plan by February: Hafeez |
| Posted by:Fred |