PM briefed onon FATF status ahead of Pompeo Visit

A day before the crucial visit of US Secretary of State Mike Pompeo, the government on Tuesday took stock of the situation on Pakistan’s current progress on implementation of the Financial Action Task Force (FATF) recommendations for curbing money laundering and terrorism financing.

Prime Minister Imran Khan was briefed in detail about the status on a 26-point action plan earlier handed over to Pakistan by FATF to avoid blacklisting. The briefing was held at the Prime Minister’s office and government did not release any official statement about it.

A senior official at the PM Office confirmed the development saying besides other points, issue of implementation of sanctions in terms of choking finances to proscribed organisations such as IS, Al Qaeda, Jamaatud Dawa and its affiliate FIF, LeT, JeM, the Haqqani Network and persons affiliated with the Taliban also came under discussion.In June 2018, the FATF had formally placed Pakistan on the grey list due to ‘strategic deficiencies’ in its anti-money laundering and terrorism financing regime.

PM Imran, the source said, was also informed about the country’s current progress on implementation of suggestions made in mid-August by the Asia Pacific Group (APG) on money Laundering ranging from enactment of appropriate laws, enabling local officials to act upon requests of foreign countries to freeze illegal assets and making terrorism financing and money laundering extraditable offences.

Pointing out deficiencies in Pakistan’s legal framework, the APG team pointed out that this could hamper Pakistan’s effective response on requests of mutual legal assistance by foreign countries in money laundering cases.

The APG team had visited Islamabad last month to assess legal and administrative arrangements for implementing the FATF recommendations. The FATF had asked Pakistan to complete implementation of the action plan expeditiously and within the proposed timeframes, vowing to closely monitor the implementation of those action plans.

The official said that the prime minister had been briefed about the situation as there is possibility Pompeo, who is scheduled to meet PM Imran today (Wednesday), could raise the issue of terror financing during delegation talks with the premier and his cabinet members.

Briefing on Petroleum Division

Prime Minister Imran Khan on Tuesday directed the Petroleum division to chalk out a comprehensive plan to effectively curb gas theft in the country which is causing a loss of Rs50 billion to the national exchequer annually.