FATF retains Pakistan in Grey List; warns of action
Paris: Pakistan was again put on the Grey List of the international terror financing watchdog FATF, which on Friday warned Islamabad of action for its failure to combat money laundering and terror financing, officials said.
The Paris-based Financial Action Task Force (FATF) took the decision after its five-day plenary, which concluded here.
By making this decision public, the FATF has given notice to the global financial institutions that they need to prepare to red flag the jurisdiction and ready their systems for the eventuality in February 2020.
If Pakistan continues with the 'Grey List' or put in 'Dark Grey' list, it would be very difficult for the country to get financial aid from the IMF, the World Bank and the European Union, making its financial condition more precarious.
The FATF Plenary in Paris on Friday noted that Pakistan addressed only five out of the 27 tasks given to it in controlling funding to terror groups like the Lashkar-e-Taiba and Jaish-e-Mohammad, responsible for series of attacks in India.
"It was again decided by consensus that FATF would retain Pakistan on the Grey List and warn Pakistan that if it did not complete its full Action Plan and show significant and sustainable progress action will be taken," an official privy to the development said.
Such action could include calling upon global financial institutions to give special attention to business relations and transactions with Pakistan. This language is the same as used for Iran, which is already on the Black List.
The FATF discussed all jurisdictions, which are under review, including Pakistan and there was consensus on Pakistan, with its poor performance on the 27-point Action Plan, despite expiry of its 15-month timelines.
"It was noted that Pak was able to address only five out of 27 items. It was unanimously decided to express serious concern with overall lack of progress in addressing its transnational terror funding risks," the official said.
In light of the additional fact of Pakistan's poor performance on its mutual evaluation, chances of Pakistan exiting the Grey List in the next few years are now reduced to nil and the possibility of a formal Black Listing in February 2020 is now highly probable.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
Pakistan was placed on the Grey List by the FATF 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 black list with Iran and North Korea.
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Misuse of power, money to control election mechanism seen during Maharashtra polls: Sharad Pawar
Pune (PTI): NCP (SP) chief Sharad Pawar on Saturday claimed the misuse of power and money to control the entire election mechanism, which was never before seen in any state assembly or national polls, was witnessed in Maharashtra.
Pawar made the statement when he visited senior activist Dr Baba Adhav, who is protesting against the alleged "misuse of EVMs" in the recent state polls in Maharashtra.
Adhav, who is in his 90s, began his three-day protest at Phule Wada, the residence of social reformer Jyotiba Phule, in the city on Thursday.
The opposition Maha Vikas Aghadi (MVA) allies, the Congress, Shiv Sena (UBT) and NCP (SP), have been alleging manipulation of EVMs in the recently held Maharashtra Assembly elections, which saw a landslide victory by the Mahayuti.
The Mahayuti, comprising the Shiv Sena, BJP and NCP, won 230 out of 288 assembly seats in the November 20 polls, while the MVA managed just 46 seats.Talking to reporters, Pawar said elections were conducted recently in the country, and there is a restlessness among the people about these.
Baba Adhav's agitation represents this restlessness, he said.
He said, "There is a murmur among the people that the recent polls in Maharashtra saw 'misuse of power' and 'floods of money', which was never seen in the past. Such things are heard of in local-level polls, but taking over the entire election mechanism with the help of money and misuse of power was not seen before. However, we witnessed it in Maharashtra, and people are restless now."
He added that people were recalling late socialist ideologue Jaiprakash Narayan and felt somebody should take a step forward.
"I heard Baba Adhav has taken a lead into this issue and is agitating at Phule Wada. His protest gives hope to the people, but it is not enough. A mass revolt is necessary, as the danger of the parliamentary democracy getting destroyed looms," Pawar said.
The former Union minister said those who have reins of the country in their hands are least bothered about this.
"Despite widespread discussion over it (alleged misuse of EVMs) in the country, whenever the opposition tries to raise the issue in the Parliament, they are not allowed to speak. Opposition leaders have been seeking an opportunity to speak on these issues for six days, but their demands have not been accepted even once. It shows they want to attack parliamentary democracy," he claimed.
He said Dr Adhav's protest is a fine example of someone revolting against the issue and expressed confidence that his protest will create a ripple effect.
