"We would like them to work towards restoring peace. To be on such a 'Grey List' is a setback for any nation," General Bipin Rawat after FATF warned Pakistan of blacklisting after February 2020 deadline.
A day after Pakistan was warned by the Financial Action Task Force (FATF) to act on action plans against terror funding, Army Chief General Bipin Rawat has said that there is pressure on Islamabad and they have to take action against terror groups.
"We would like them to work towards restoring peace. To be on such a 'Grey List' is a setback for any nation," General Bipin Rawat after FATF warned Pakistan of blacklisting.
Also Read: Pak will be blacklisted by Feb 2020 if it doesn't act against terror financing: FATF president
On Friday, after a week-long discussion, FATF gave time to Pakistan till February 2020 and asked it to work on action plans. The terror funding watchdog warned Islamabad that strong action will be taken if it fails to act.
FATF President Xiangmin Liu, at the end of week-long FATF meet in Paris, said, "Pakistan's failure to fulfil FATF's global standards issue we take very seriously, as a result, FATF is giving very clear warning, if by February 2020 country has not made significant progress, we would consider further action, which will potentially include placing country.. on the blacklist."
He said that the country "has not made sufficient progress" and it "has to do more and do it faster".
The country remains on the grey list of the body and has addressed only 5 of the 27 action plans it had committed to deal with terror financing. All deadlines in the action plans given by Islamabad have now expired, after repeated reminders to act.
Asked if there is interference by any member, FATF president said, "I can tell you, every member of FATF has an equal voice and we treat every country equally."
Pakistan was put on greylist by the FATF last year, causing its economy a loss of US $10 billion annually. A blacklist will further have a detrimental impact on a weak Pakistani economy as investors won't be keen to invest in a country that is prone to terror financing.
The country needs votes of just three members to make sure it is not listed on the blacklist in February for which Islamabad is expected to lobby.
A 5-member Pakistani team led by Hammad Azhar, the Federal Minister for Economic Affairs of the country, was in Paris for the meet that decided that the country would stay in the grey list.FATF is a technical body, whose main aim is to protect the international financial system. The 30-year-old body works on the consensus of member countries.
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