FATF gives Pakistan time until October to exit grey list: Sources

The decision is likely to be announced after the FATF plenary in Paris today.

File photo

Even though the Financial Action Task Force (FATF) has agreed to give Pakistan time until October to fully implement the 27-point Action Plan, it is likely to stay on the FATF "grey list", according to sources.

The global financial watchdog noted that since the Imran Khan-led government had shown compliance on 14 points, it agreed to give Pakistan more time until October 2020 to fully comply with the remaining 13 points, the sources added.

The decision is likely to be announced on Friday after the FATF plenary, which is currently ongoing in the French capital of Paris. The key plenary session of the FATF began on February 16. 

More than 800 representatives from 205 countries and jurisdictions around the world, including the IMF, UN, World Bank, and other organisations, will be a part of the meet.

Pakistan has so far successfully managed to avoid the blacklist due to diplomatic support from China, Turkey, Malaysia, Saudi Arabia and Middle Eastern countries.

It now requires just three votes out of a total of 39 members of FATF forum to avoid falling into the blacklist. 

India's Army Chief General MM Naravane on Thursday (February 20) claimed that the pressure built by FATF on Pakistan is one of the factors behind the reduction of terrorism in the Kashmir Valley.

"If the Financial Action Task Force (FATF) comes down heavily on them, they (Pakistan) may have to rethink on their rhetoric and activities. FATF is a factor in the reduction of terror activities in Kashmir Valley,’’ General MM Naravane told reporters.

Meanwhile, the country's intelligence agency Inter-Services Intelligence (ISI) has held a big meeting with commanders of terrorist group Jaish-e-Mohammad (JeM) in Rawalpindi on February 16. The Pakistan government has assured the JeM and other terrorist groups that it will gradually remove the restrictions against terrorist organizations.