Pakistan Foreign Minister Shah Mahmood Qureshi is aware of the possibilities of the Financial Action Task Force (FATF) blacklisting the country and estimated the loss it will have to face in money if that happens. He said “lobbying by India” could land Pak in FATF blacklist and if that happens they will suffer $10 billion loss annually, which is about Rs 69000 crores.
“We have tried to remove Pakistan the from the greylist and India wants us to be pushed to the black list. Inshallah, we will try our best to get us out of the grey list,” he said.
“The Foreign Office is calculating the annual loss if Pakistan is pushed in the blacklist by the FATF as India is lobbying for this” he added.
In June last year, the Paris-based FATF had placed Pakistan on the ‘grey list’ of countries whose domestic laws are considered weak to tackle the challenges of money laundering and terrorism financing.
A group of experts from the FATF recently visited Pakistan expressed reservations over insufficient physical actions on the ground against banned groups to block the flow of funds and activities.
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