The global terror financing watchdog, Financial Action Task Force (FATF) announced that Pakistan will stay on its “grey list” of countries till February 2021 as it failed to meet the conditions needed for unfettered access to international funds, despite the progress made by Islamabad.
Pakistan’s law enforcement agencies failed to meet six of the 27 points and “need to do more,” the FATF said.
They are yet to demonstrate that they are identifying and investigating the widest range of terrorism financing activity. It also needs to prove that terrorism financing probes resulted in effective, proportionate and dissuasive sanctions, FATF said.
Pakistan denies long-standing accusations that it has nurtured and supported Islamist militant groups for use as proxies particularly towards India and Afghanistan.
Pakistan secured an extra four months to complete the plan after missing 13 of the 27 targets that FATF had set for it in 2018 when it put Pakistan on its “grey list” and got an extension due to the COVID-19 pandemic.
It will have to enact tougher legislations and crack down on militant groups, their sources of income and trials.
Due to its position on the grey list, Pakistan has found it difficult to get financial aid from the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB) and the European Union (EU).