Minister for Foreign Affairs Bilawal Bhutto Zardari has termed Pakistan’s successful completion of the action plans laid out by the Financial Action Task Force the “result of concerted national efforts”, according to a statement issued by the Ministry of Foreign Affairs on his behalf on Sunday.
The Foreign Office, quoting FM Bilawal, said: “I welcome FATF’s unanimous acknowledgment of completion by Pakistan of its 2018 and 2021 Action Plans. I would like to commend the hard work and dedicated efforts of Pakistan’s FATF team that have led to the successful completion of all technical requirements of both FATF Action Plans.”
The foreign minister said that this was “the result of concerted national efforts and complete harmony of interests by all stakeholders”.
Referring to the announcement by the FATF plenary — convened in Berlin from June 14-17 — of granting an on-site visit to Pakistan, he said that it is “a welcome development”.
“It reflects the remarkable progress made by Pakistan to enhance the effectiveness of its AML/CFT regime,” he said, in reference to the Anti-Money Laundering and Combating the Financing of Terrorism measures that the task force assesses.
The foreign minister expressed the government’s commitment “to continue this positive trajectory of reforming the financial sector as part of its larger strategic objective of strengthening Pakistan’s economy”.
“I am certain that this good news from FATF will restore confidence in Pakistan’s economy and act as a catalyst for sustained growth and development,” he said.
FM Bilawal also reiterated Pakistan’s resolve to align its AML/CFT regime with global standards.
“We look forward to the on-site visit and a successful and early culmination of the process leading to Pakistan’s exit from the grey list,” the foreign minister said.