Pakistan Gray List: FATF has given big relief to Pakistan. Pakistan, which was included in the gray list of FATF (Financial Action Task Force) for serving terror, has now been excluded. A big decision was taken on this in the FATF meeting held in Paris on Friday (21 October). However, Pakistan has also suffered a lot due to being in the gray list. In four years, Pakistan suffered a loss of about three lakh crores.
Pakistan was put in the gray list of FATF in 2018. This decision has been taken due to Pakistan working with the Asia Pacific Group on money laundering, improving anti-money laundering and counter-terrorism financing systems. After this news, the happiness of Pakistan’s Prime Minister Shebaz Sharif knew no bounds.
Pakistan exiting the FATF gray list is a vindication of our determined and sustained efforts over the years. I would like to congratulate our civil & military leadership as well as all institutions whose hard work led to today’s success. Aap sab ko bohat bohat Mubarak 🙂
— Shehbaz Sharif (@CMShehbaz) October 21, 2022
What did Shahbaz Sharif say?
PM Shahbaz immediately tweeted and said, “The removal of Pakistan from the gray list is also like recognizing the sacrifices made in the war against terrorism. I would like to congratulate our government and military leadership as well as all those institutions Due to whose hard work we have got this success today.”
How much loss did Pakistan suffer from being in the gray list?
- Due to being in the gray list, Pakistan lost 10 billion dollars every year
- This loss in Indian rupees is about 75 thousand crores annually.
- Pakistan was in the gray list since 2018
- By February 2022, Pakistan has suffered a loss of 3 lakh crores due to gray list.
What was the problem with Pakistan?
The FATF is the apex body in the world to crack down on the economic logistics of terrorism. Pakistan was on the gray list of FATF since 2018. To understand why Pakistan was finding it difficult to stay in the FATF, it is important to know what the problems faced by it. Due to being in the gray list, Pakistan was facing huge problems in taking loans. Pakistan found it difficult to get loans from institutions like IMF, World Bank, Asian Development Bank and European Union. However, now it will be easier for Pakistan to take loans from these institutions.
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