Pakistan, being the grey list of Financial Action Task Force (FATF) needed the support of at least 3 member states, out of the 36 to avoid being placed in the Blacklist.
With the support of China, Turkey, and Malaysia, Pakistan successfully used the diplomatic tactics to counter the Indian malafide intentions as India planned to put Pakistan in the blacklist while co-chairing the joint group of FATF and Asia Pacific Group. The final decision related to the matter would be announced in Paris in October.
A foreign office official confirmed that this it is indeed a considerable accomplishment, but the risk is not completely over yet. Pakistan has to implement the game plan suggested by the FATF and must show the progress as well. Earlier this month the Joint Group of Financial Action Task Force had recognized efforts of Pakistan to control the money laundering and terror financing. However they pointed out some loopholes as well, that need further improvement. The report said that 18 out of the 27 recommended actions are incomplete and significant advancements are required for other eight prohibited outfits.
Pakistan made into the grey list in June last year after getting less than three votes as its friends had their own political focuses to verify in the worldwide watchdogs. Turkey was the only member state which stood-by Pakistan at that time as well.
The foreign office also confirmed that the development was possible due to strong diplomatic pressure from the fellow state members as Pakistan was looking forward to its allies to use their contacts for the matter.
To move out from the grey list of FATF, Pakistan needs favor of 15 members out of the 36. Foreign Minister Shah Mehmood Qureshi claimed this week that the UK has also agreed to support Pakistan on the subject matter. Other members of the task force include the US, Russia, Italy, France, Japan, Germany, Canada, etc.
