Pak on FATF greylist: India asks Islamabad to take credible & irreversible action on terror

India has reacted to Financial Action Task Force or the FATF keeping Pakistan on the grey list after failing to meet deadline two times — January and May 2019. 

New Delhi said it expects Islamabad to take "credible, verifiable, irreversible & sustainable measures" on the "global concerns" related to "terrorism and terrorist financing" emanating from any territory under its control.

Adding, Pakistan should take "all necessary steps to effectively implement the  FATF Action Plan fully within the remaining time frame i.e. by September 2019".

This is not the first time India has asked Pakistan to take strong steps to dismantle terror infrastructure. New Delhi and Kabul both have been asking Pakistan to take measures on terror groups on its territory for years now.

After being greylisted in June 2018, Pakistan had made high-level political commitments to address its counter-terrorist financing-related deficiencies which basically means to act on the financing of terrorism.

The global counter-terror body on Friday strongly urged "Pakistan to swiftly complete its action plan by October 2019", warning, if Islamabad doesn't comply, "FATF will decide the next step at that time for insufficient progress" which mean a possible blacklisting.

Being on the greylist impacts the Pakistani economy which loses $10 billion annually.

Islamabad was put on the greylisted last year which means the country comes under financial jurisdiction with “structural deficiencies” in "anti-money laundering (AML) and combating the financing of terrorism (CFT)" or simply put-- supports the financing of terror.