Islamabad: Imran Khan is afraid of Pakistan’s name in the Black List of Financial Action Task Force (FATF) as this can destroy Pakistan to a great extent. This was revealed in the address given by the Prime Minister of neighboring country Imran Khan on Thursday night. In his address to the nation, Imran Khan said that if Pakistan is put on the black list by the FATF, the country will be subjected to many restrictions. Things coming from outside will become expensive and the country will go into extreme poverty. It will also impact the Pakistani Rupee and when Rupee starts to fall, we do not know how much it will fall. We do not have foreign reserves to save the Rupee. When rupee falls, everything will become costly — electricity, gas and Oil. Once we are on the blacklist, our entire economy will be destroyed due to inflation.
Pakistan has been on FATF’s blacklist for almost last three years even as it has been given several deadlines to full fill its commitments to improve transparency in financial dealings and take action on the financing of terrorism. According to the reports, Pakistan has lost 38 billion dollars (about 2806 billion rupees).
The Financial Action Task Force (FATF) kept Pakistan on the black list for another extended period till June 2021 and asked for complying with the remaining three outstanding points of total 27 action plans.
The FATF asks Pakistan to address three remaining deficiencies related to terror-financing and effective implementation of United Nations Security Council (UNSC) Resolutions 1267 and 1373 against all designated terrorists.
“Pakistan will remain on the black list as some deficiencies still exist as out of 27 action plans, three still need to be addressed. I urge Pakistan to fully implement the action plan. When Pakistan completes its whole action, our onsite visit will verify sustainability and then FATF members will decide about Pakistan in the next plenary meeting in June 2021” the FATF’s President Dr Marcus Pleyer said while addressing an online news briefing from headquarters based in Paris.
Additionally, Pakistan Prime Minister Imran Khan on Thursday announced that he will seek a vote of confidence on Saturday, in a bid to restore the legitimacy of his government after an embarrassing defeat of the finance minister in the hotly-contested Senate elections.
Khan made the announcement in a televised address to the nation during which he lashed out at the grand Opposition alliance for “making a mockery of democracy” and said that he will never let the corrupt politicians off the hook.