No relief for Pakistan from FATF, formal statement expected on October 18

There seems to be no relief for Pakistan from the financial action task force. Wion has learnt from sources in Pakistan that the country will remain on the FATF grey list.

The Pakistan government has been asked by the global money-laundering watchdog to complete the implementation of its action plan at the earliest.

But for now - the country will reportedly stay on the list till the next plenary session in February 2020.

An official announcement by the body is expected to be made tomorrow which is the last day of its ongoing session.

Remember Pakistan was placed on the grey list by the Paris-based watchdog in June last year and was given a plan of action to complete it by October 2019 — or face the risk of being placed on the blacklist along with Iran and North Korea.

Now if Pakistan continues in the grey list - it would become very tough for the Imran Khan government to get financial aid from the IMF - the world bank and the European Union - making its existing financial condition more precarious.