No significant effect on Pakistan’s economy if placed on FATF grey-list: Miftah | Pakistan
ISLAMABAD: Advisor to the Prime Minister for Finance, Miftah Ismail, said on Friday that Pakistan would not have a significant impact on its economy if the Financial Action Task Force (FATF) decides to place it on the gray list. ]
"Nothing will happen until June … [but even then] nothing will happen to Pakistan. This is not a big problem, "he said during a conversation with Geo News .
. The adviser said that Pakistan was also included in the list from 2012 to 2015, but the stock market was still growing (19459006)
Ismail added that Pakistan already has strong measures to combat money laundering.
Indian media claimed that the decision to include Pakistan in Pakistan in the gray list. However, the FATF spokesman, Alexander Daniel, denies that Pakistan is included in this list.
Daniela said Geo News that the final decision will be made after the meeting that addresses this issue is completed.
Meanwhile, a spokesman for the Pakistani Foreign Ministry said that the request to include Pakistan in the gray list was made earlier in January by the United States and Britain. Adding this, "Pakistan has serious concerns about the movement undertaken by the United States and Britain in the Financial Action Task Force to put the country on a gray list."
The FATF is a global body that fights the financing of terrorism and money laundering. In recent months, Pakistan has struggled to avoid adding to the list countries that, according to the FATF, do not comply with anti-money laundering and financing of terrorism, a measure that officials fear, may damage its economy.