ISLAMABAD: Sources from the finance ministry claimed that the first Plenary meeting under T. Raja Kumar would take place on October 20 or 21 in Paris. It is expected that Pakistan will most likely exit the grey list of FATF after four years. Pakistan had successfully completed the 34-point action plan designed to eradicate terror financing and money laundering.
The country has been on the grey list since June 2018 due to its inability to control terror financing and money laundering. FATF gave a 27-point action plan to Pakistan and added another 7 points. In June 2022, speculations were rife about Pakistan’s exit from the grey list. The hopes got stronger after the anti-terrorism court sentenced Sajid Mir on the charges of terror financing.
If Pakistan successfully bails out from the FATF grey list, it will restore the confidence of foreign investors as being on the grey list causes trouble in financial transactions and elevates the business cost.