ISLAMABAD: Pakistan is hopeful to exit the grey list of Financial Action Task Force (FATF) this Friday after the upcoming plenary of the global dirty money watchdog in Paris since the country has successfully implemented 34 action points to counter money laundering and terrorism financing, said officials on Wednesday.
The FATF downgraded Pakistan to its “increased monitoring list” – commonly known as the grey list – in June 2018.
The list includes countries with weak financial systems which can be exploited by criminal elements for money laundering and terrorism financing. These countries formally pledge to work with the task force to strengthen their financial systems by making necessary amendments to them.
Pakistan also agreed to address the deficiencies in its legal, financial and regulatory systems to curb money-laundering and terrorism financing. The country was initially handed over a 27-point action plan, though it was later enhanced to 34 to address all the deficiencies.
“We are hopeful to exit the grey list as we have met all the requirements,” a top Federal Board of Revenue (FBR) official, who was involved in implementing the watchdog’s concerns regarding designated non-financial businesses and professions, told Arab News on condition of anonymity.
He informed that his FBR unit had ensured that the ill-gotten criminal proceeds could not be stashed in real estate, gold or other precious metals and stones.
“We have completed all the action plans and the FATF has also recognized it,” he continued. “Now it is entirely up to them as to what they decide in the meeting.”
The FATF plenary will be held on October 20-21. It will be attended by the delegates representing 206 members of the Global Network and observer organizations, including the International Monetary Fund, United Nations, World Bank, Interpol and Egmont Group of Financial Intelligence Units.
In June this year, the global watchdog recognized Pakistan’s progress on implementing the 34-point action plan, though it continued to keep the country on the grey list while mentioning an onsite inspection to verify the country’s progress.
A 15-member joint delegation of the FATF and its Sydney-based regional affiliate — Asia Pacific Group — paid the visit to Pakistan between August 29 and September 2 to verify its compliance with the action plan.
“From our perspective, the onsite visit was successful,” the FBR official said.
The Pakistan foreign office spokesperson, Asim Iftikhar, did not respond to a telephone call and text message by the time the story was filed.
Another official of the Financial Monitoring Unit (FMU), who supervised the implementation of the 34-point action plan, cautiously told Arab News the plenary would make the final decision on the issue by Friday.
“Things are in process at the moment,” Samina Chagani, deputy-director at the FMU, said. “We have done our job and things will now be discussed at the plenary.”
She also advised to wait “until the final announcement by the FATF” on Friday.
In June, Pakistan said it was “one step away” from exiting the grey list after the successful completion of the action plans.
“The successful completion of the action plans and its formal endorsement by FATF means that Pakistan has come to one step away from exiting from the grey list,” state minister for foreign affairs Hina Rabbani Khar, who is also the chair of Pakistan’s National FATF Coordination Committee, said at a media briefing.
Economists and experts said that Pakistan’s removal from the FATF watchlist could help the country attract foreign investment in different sectors if a proper strategy was adopted.
“This will be positive news for the investors,” Dr. Salman Shah, a senior economist and former adviser to the government, told Arab News. “But this is unlikely to have any immediate, short-term impact on our economy because some other irritants like political instability still exist to put the investors off.”
He said that a “negative irritant” would be abolished with the removal of the country from the FATF’s grey list and “this will help bring foreign inflows in the long-term.”
Pakistan hopeful to exit global dirty money watchdog’s grey list on Friday – officials
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Pakistan hopeful to exit global dirty money watchdog’s grey list on Friday – officials
- The Financial Action Task Force will announce its decision after discussing Pakistan’s implementation of 34-point action plan
- Experts say they don’t see immediate positive impact on the country’s economy, though exiting the list may boost foreign inflows
Pakistan dispatches 19th relief consignment to Syria amid conflicts in Middle East
- Pakistan says it will continue to support people affected by Israel’s military campaign in the region
- Since the beginning of the war in Gaza, Pakistan has called for a ceasefire at the UN, other forums
ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) dispatched its 19th relief consignment on Sunday to help war-affected people in Syria and refugees from Lebanon, according to an official statement, reaffirming the country’s commitment to supporting those impacted by ongoing conflicts in the Middle East.
The aid shipment, sent in collaboration with the Pakistani charity Al-Khidmat Foundation, consisted of 17 tons of humanitarian supplies, including buckets, powdered milk, tinned food, family packs, sleeping bags and medical kits.
The consignment departed via a chartered flight from Jinnah International Airport in Karachi to Damascus in Syria.
“This 19th consignment has been dispatched for the people of Syria and refugees from Lebanon,” the NDMA said in its statement. “Prior to this, the Government of Pakistan has sent 12 aid consignments to Palestine and six shipments to Lebanon, with a total volume of 1,722 tons.”
The statement reaffirmed Pakistan’s commitment to supporting the people of Palestine and Lebanon who are in distress due to Israel’s military campaigns in the region.
It also emphasized the importance of collaboration by welfare organizations and the Pakistani public in strengthening the government’s efforts to assist those in need.
Pakistan has already established a special fund titled the “Prime Minister’s Relief Fund for Gaza and Lebanon,” inviting public donations.
Since the beginning of the war in October last year, Pakistan has called for a ceasefire in Gaza and has raised the issue at the United Nations, the Organization of Islamic Cooperation (OIC) and other international forums, urging an end to Israeli military actions and a resolution to the humanitarian crisis.
Women in Pakistan’s Karachi protest against honor killings, rising extremism
- Participants of the rally say Karo-Kari is ‘rampant’ in Sindh, oppose marriages to settle disputes
- Protesters also raise concern about proposed amendments to Pakistan’s water distribution system
KARACHI: Hundreds of women marched in Karachi on Sunday to protest honor killings, rising extremism and social injustices, while voicing concerns over proposed changes to Pakistan’s water distribution mechanism earlier this year, which southern provinces argue are detrimental to their interests.
The rally, organized by Sindhiyani Tehreek, a women-led movement supported by civil society groups, drew demonstrators from across Sindh who marched from Regal Chowk to the Karachi Press Club.
Dr. Marvi Sindhu, the central general secretary of the movement, highlighted the threat of so-called honor killings, locally referred to as Karo-Kari. These killings target individuals accused of engaging in illicit relationships or marrying against their families’ wishes, often as a means to restore the perceived honor of the family.
“We are raising our voices against the rampant killing of women in the name of honor in Sindh,” she told Arab News. “We are also here to raise our voices against rising religious extremism.”
Sindhu said Karo-Kari was “alarmingly rampant” in northern Sindh, though she noted other socially conservative practices also undermined the interests and wellbeing of women.
“Women are married to settle disputes or murder cases [in the province], only to face harassment [from their in-laws] for the rest of their lives,” she continued, urging Pakistan’s senior judiciary to form a commission to address such issues.
Amar Sindhu, a professor and member of the Women’s Action Forum, echoed similar concerns, saying the rise in extremist ideologies was deepening social injustices and threatening women’s safety in Sindh.
“We stand united against these injustices and demand action to protect women from violence and oppression,” she said.
Sindhiyani Tehreek, founded in 1980, has been a prominent force in the province, advocating for women’s rights, social justice and the preservation of Sindhi culture. The movement also has a long history of resistance against authoritarian rule, gender-based violence and environmental degradation.
Apart from social and gender issues, the protest also highlighted proposed amendments to the Indus River System Authority (IRSA) Act, 1992, introduced in July to restructure Pakistan’s water regulatory authority.
Key changes include appointing a permanent federal chairman to the authority, replacing the current rotational system where provincial representatives take turns leading IRSA.
The movement’s general secretary condemned the amendments as “unlawful,” warning they could exacerbate interprovincial disputes and deprive Sindh of its rightful share of water.
“Sindh deserves its share of water to sustain its crops, mangroves and marine life,” she said.
One killed in northwestern Pakistan blast targeting religio-political party leader
- Attack on Maulana Shehzad Wazir of Jamiat Ulema-e-Islam has left him critically injured
- The JUI leader was on his way to a mosque in Azam Warsak when the explosion took place
PESHAWAR: One person was killed and six others injured in a blast triggered by an improvised explosive device (IED) targeting a senior leader of a prominent religio-political party in South Waziristan district on Sunday, leaving him in critical condition, police said.
The attack on Maulana Shehzad Wazir comes amid complaints from his Jamiat Ulema-e-Islam (JUI) party about being targeted by militants operating in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province.
JUI chief Maulana Fazlur Rehman also voiced concerns over militant threats disrupting the party’s election campaign in the region ahead of the February 8 national polls, citing warnings from law enforcement about dangers to its candidates.
“The IED was planted in a street leading to Maulana Shehzad Wazir’s mosque, who is politically affiliated with the JUI-F,” Bilal Wazir, a police officer in Wana, the headquarters of South Waziristan tribal district, told Arab News over the phone. “Mufti Ijaz Wazir died on the spot while six others, including Maulana Shehzad Wazir, who was apparently the target of the attack, were left in critical condition.”
The officer said a police contingent was dispatched to the area soon after the explosion to gather evidence and shift the wounded to the hospital.
Asked about the intensity of the blast, he said it shook the entire neighborhood of Azam Warsak, a settlement on the outskirts of Wana.
Speaking to Arab News, Mufti Ijaz Shinwari, the JUI senior vice president in the tribal area, condemned the incident, saying the victims of the attack were religious leaders and key figures of his political party on the provincial level.
“This is inhumane,” he added. “This is clearly a terrorist attack and a cowardly act.”
No group has claimed responsibility for the attack, though Tehreek-e-Taliban Pakistan (TTP), a banned militant group, has a history of targeting civilians, security forces and politicians in the region, aiming to perpetuate instability in KP.
In recent months, the TTP has claimed responsibility for several attacks and is suspected by officials in others.
Earlier this week, however, Daesh, a separate militant outfit, shot dead Hameed Sufi, a senior leader of the Jamaat-e-Islami party, in the adjacent Bajaur tribal district.
In June, four people, including Maulana Mirza Jan, the president of JUI’s Wana chapter, were shot by unidentified attackers.
Pakistan claims Afghanistan’s Taliban rulers are providing shelter to TTP fighters across the porous border separating the two countries. However, the Afghan Taliban insists they do not allow anyone to use their soil to launch violent attacks in the neighborhood.
Smog drops from hazardous to unhealthy in Pakistan’s Lahore
- The city’s AQI index reached a daily average of 243, still considered ‘very unhealthy’
- Current pollution level is 10 times higher than what is deemed acceptable by WHO
ISLAMABAD: The air quality in Pakistan’s smog-choked city of Lahore on Sunday fell below the threshold considered “hazardous” for humans for the first time in two weeks.
The AQI index reached a daily average of 243, still “very unhealthy” but below the highest level of 300 considered “hazardous.”
The level of PM2.5 particles was also more than 10 times higher than the level deemed acceptable by the World Health Organization.
The city of 14 million people close to the border with India peaked at a record AQI of 1,110 on November 14.
Punjab, home to more than half of Pakistan’s 240 million people, closed schools in its major cities on November 6, and on Friday extended the closure to November 24.
It has also banned all outdoor sports in schools until January, and cracked down on polluting tuk-tuks, barbecues and construction sites in pollution hot spots across Lahore.
Seasonal crop burn-off by farmers on the outskirts of the city also contributes to toxic air the WHO says can cause strokes, heart disease, lung cancer and respiratory diseases.
Pakistan’s finance chief says PM Sharif will soon unveil ‘home-grown’ economic agenda
- Muhammad Aurangzeb calls the recent IMF visit part of ongoing talks, enhancing mutual trust
- The visit came weeks after the $7 billion loan approval, making observers think it was unusual
ISLAMABAD: Prime Minister Shehbaz Sharif will soon unveil a “home-grown agenda” for economic development, Finance Minister Muhammad Aurangzeb said on Sunday, as he informed that his interaction with a visiting International Monetary Fund (IMF) delegation last week went well, providing both sides an opportunity to enhance mutual trust.
The IMF delegation, led by Pakistan mission chief Nathan Porter, completed a five-day trip to the country during which it held wide-ranging conversations with the government.
The international lending organization approved a $7 billion loan for Pakistan in September, though it explicitly stated that the delegation’s visit was not part of the first review of the loan program, which is scheduled for the first quarter of 2025.
The IMF visit, which came just weeks after the loan’s approval, surprised observers who considered it unusual, though the finance minister described it as part of an ongoing dialogue between the two sides, noting that it resulted in a positive IMF statement.
Aurangzeb also said the government would specify its overall economic game plan in the next few days.
“The prime minister will soon share a home-grown agenda about how we are going to take forward our overall economic roadmap,” he said, without disclosing its details. “It has been very well syndicated with all the stakeholders.”
The minister emphasized that dealings between Pakistan and the IMF were completely transparent, with all agreed details available in the public domain. He noted the recent discussions with the IMF covered taxation and energy reforms, along with the privatization plan for state-owned enterprises and public finances.
“I welcomed this visit because this is an ongoing dialogue to ensure mutual credibility and trust,” he added. “We have shared our roadmap with them and explained how we are taking things forward.”
The finance minister said the two sides would continue to hold virtual talks, though he noted that he appreciated every opportunity to meet IMF officials face-to-face.
He also mentioned that discussions with the international lender included climate resilience and decarbonization, emphasizing that these issues had to be addressed alongside broader economic challenges rather than sequentially.
Pakistan has faced a prolonged economic crisis marked by rapid currency devaluation and dwindling foreign exchange reserves, which forced it to seek external financial assistance from friendly nations and global financial institutions.
The country has seen an improvement in its macroeconomic indicators in recent months, though it has yet to fully recover from its financial difficulties.
Reflecting on his visit to Washington for the World Bank and IMF meetings earlier this year, Aurangzeb described the discussions as productive.
“They gave us a platform to share with the comity of nations about how we turned the economy around in 14 months,” he said. “We also got an important message, which is that there is no room for complacency and we must stay the course [of stringent economic reforms].”
