A meeting of Financial Action Task Force (FATF) was enough to put tremendous pressure on Pakistan to give a panic reaction on Terror, bred on its own soil.
FATF forced it to promise laying out a financial strike plan against terror, which it had been resisting for a long time. It has now committed to a 26-point action plan to erase sources of terror funding.
>p< This plan is going to be implemented in next 15 months. The Paris-headquartered watchdog FATF has been serious considering sanctions against Pakistan for developing terror infrastructure in the country.>/p< >p< If it is satisfied with Pak’s plan, it will put Pakistan on the less stringent 'grey list'. Pakistan's finance ministry will see to it that Pakistan does not deviate from its own new plan to fight terrorism.
FATF began discussions on the action plan proposed by the Pakistan government yesterday. If delegates identify too many loopholes in this plan, then Pakistan would be in for too many financial troubles. A decision is expected on Friday.
The plan, that the International Cooperation Review Group of the Asia Pacific Group submitted to the terror financing watchdog – which Pakistan committed to – requires Pakistani authorities to proactively cooperate with counterpart bilateral agencies to choke financing to Da’ish, Al Qaeda, and the Haqqani Network, as well as India-oriented terror groups Jamaat-ud-Dawa and its affiliates Lashkar-e-Toiba and Jaish-e-Mohammed, said a Pakistani media report.report.
By May, Pakistan will have to show that terrorism financing prosecutions successfully result in effective, proportionate and dissuasive sanctions against natural and legal persons convicted of terrorism financing offences. And by September 2019,
>p< Pakistan will address the key concern of identifying and investigating the widest range of terrorism financing activities like the collection, movement or use of funds.>