PAKISTAN HURDLE GET INCREASE BY FATF DUE TO PULWAMA ATTCAK

FATF KEEPS PAKISTAN ON GREY LIST 

Condemns Pulwama attack in which 40 jawans were killed, financial action task force (FATF), issued a statement to Pakistan comply with an action plan on terror financing , according to discussion on plenary session in Paris .

 

The 37- member group decide not to remove Pakistan from the grey list but it did not accept India demand move to Pakistan on black list .

what is FATF

FATF is an financial action task force . Its an intergovermental body established in 1989 to combact from money laundering and terrorist financial funding .every year their meeting should held in paris 

last g-7 sumit held in Paris .

FATF have 2 type of list 

1. Black list 
2. grey list 

what is black list 

Black list is given to those countries which given company as uncooperative tax haven . such countries are be placed in NON Cooperative countries and territories (NCCTs). NCCT report laid out the basic procedure for reviewing countries and territories as the part of initiative .

what is grey list  how it effect the Pakistan 

Grey list is given to warn the country to come in the black list . if any countries break their rule they will come inside on the black list as per the notification by the FATF. 

Problem face by grey list company are:-

1. Countries face problem in getting loan 
2. they also face Economics sanctions 
3. Reduction in trade 
4. face problem on FDI

Pakistan get 2 time grey list warning they are on first time in 2012-2015 and 2nd time on 2018 by U.S sanction .. 

conclusion :- if Pakistan did not stop their terror supporting & financial funding it will effect their economics .. as well as their reputation on globally . last time U.S stop giving Aid to Pakistan due to their terror funding . Pakistan government need to take an tough step against jaish e mohamad & LeT terror groups ..