The grey list placement could potentially hurt Pakistan’s economy and global standing. Earlier in the day, Akhtar had urged the FATF to remove Pakistan from its grey list.The announcement comes a day after Pakistan submitted a comprehensive 26-point action plan to the FATF to choke the funding of militants groups, including Mumbai attack mastermind Hafiz Saeed-led JuD and its affiliates, to avoid being blacklisted by it.
The placement on to grey list could hurt Pakistan’s economy as well as its international standing.
Pakistani delegation apprised the watchdog of steps taken by Islamabad to eliminate money laundering and terror financing at the FATF plenary. Pakistan had intended to avoid being on the grey list.
Official sources in the Foreign Office said that being placed on the grey list was not a surprise for Pakistan.
“It is political decision and nothing to do with the performance of Pakistan against terrorism,” they said.
They added that Pakistan will stay on the list for a year or so and will eventually be out of it as has happened in the past.
Pakistan had remained on the FATF grey list from 2012 to 2015.
