India’s bid to ‘blacklist’ Pakistan fails, country to remain on FATF Grey list

India’s bid to ‘blacklist’ Pakistan failed on Friday as FATF announced its decision to keep Pakistan in grey list for its substantial progress in achieving FATF requirements.

The Financial Action Task Force (FATF) on Friday, acknowledged that Pakistan has successfully complied with 21 out of 27 key points/guidelines provided by the FATF.

The watchdog has decided to not blacklist Pakistan and announced its decision to keep the country in its grey list till February 2021.

The decision was made on the final day of the three-day plenary session of FATF on Friday (today).

Federal Minister for Industries and Production – Hammad Azhar took to social media to highlight Pakistan success and substantive efforts in compliance with the FATF guidelines.

Pakistan has achieved impressive progress on its FATF action plan…within a year, we progressed from 5/27 to 21/27 completed items, he tweeted.

The development comes as India has been extensively lobbying to ‘blacklist’ Pakistan in FATF rankings that would have resulted in various economic sanctions being imposed in Pakistan.

Pakistan has been on FATF’s grey list since June 2018. The countries included in FATF grey list are subjected to increased increased monitoring by the watchdog.