With the determination and strenuous effort of the country’s leadership and the armed forces, Pakistan was finally removed from the Financial Action Task Force’s (FATF) grey list in October. FATF is an intergovernmental policymaking body that develops and promotes policies to combat money laundering and terror financing. The country was first put on the list in 2008 for two years followed by the second time from 2012 to 2015 and then again in 2018. This demonstrates that Pakistan failed to meet FATF’s standards and monitor illegal activities in the country.
The federal government was particularly concerned about the country being entered into the blacklisted countries, which would harm Pakistan’s global image and discourage investors from investing in the country. The recent attacks in parts of Khyber-Pakhtunkhwa are worrisome as they may increase the likelihood of unrest across the country.
Instead of claiming credit for Pakistan’s removal from the grey list, both the government and opposition must put their disagreements aside and concentrate on addressing the threat of re-emerging conflict in different parts of the country. The federal and provincial governments and all other stakeholders must come together to draw a comprehensive strategy to combat different forms of illegal activities and prevent the country from descending into unrest and chaos.
SABIR ALI
PANGRIO, BADIN
