New Delhi: The Financial Action Task Force (FATF) has issued a final five-month reprieve to Pakistan from inclusion in the FATF blacklist. Pakistan government is therefore under tremendous pressure and had responded to the ultimatum stating that it was committed to exercise the FATF action plan. Pakistan is said to have come to its senses, after the FATF ultimatum. The Indian Chief of Military Staff, General Bipin Rawat has also given a severe reaction to Pakistan’s situation. ‘Pakistan is under pressure at present and will have to act. They should take steps to establish peace,’ Chief of Staff General Rawat said.
Instead of including Pakistan in the blacklist, the FATF issued a five-month ultimatum to implement the FATF action plan. If Pakistan failed to implement the action plan, they would need to be included in the blacklist in the FATF’s February meeting. It has, therefore, sparked fears of the action causing a collapse of whatever is left of the Pakistan economy. Thus, the Pakistani Finance Ministry, in an immediate reaction, announced that all the FATF instructions would be abided. We will address all the 27 criteria the FATF has prescribed in its action plan, the Pakistani Foreign Ministry said.
However, enforcing the action would not be easy for Pakistan, given the influence of the extremists and terrorists in the country. Selected journalists and analysts have underscored that there could be severe repercussions if the noose were tightened around terror funding.
The Indian Chief of Staff issued a stern remark on the matter. General Rawat urged Pakistan to act against the terrorists, henceforth. Also, he added that the inclusion in the FATF grey list was a significant blow for any country.