Pakistan amends anti-terror laws to avoid worldwide sanctions

Pakistan amends anti-terror laws to avoid worldwide sanctions

The paper also said that The US and India are spearheading an effort to get Pakistan included in the watchdog's global money laundering and terror financing "grey list".

The US has consistently expressed our long-standing concern about ongoing deficiencies in Pakistan s implementation of its anti-money laundering/counter-terrorism finance (AML/CFT) regime, a State Department Spokesperson told PTI amid media reports from Pakistan that the US has approached the Financial Action Task Force (FATF) in this regard.

FATF during its plenary in November previous year had asked Islamabad to submit a compliance report on the action it took against Lashkar-e-Toiba and Jamaat-ud-Dawah at the upcoming plenary in Paris, where the intergovernmental body is scheduled to meet from February 18 to 23.

He hoped that Pakistan will not be put on the watchlist whether the U.S. did not take back the motion.

The body maintains grey and black lists for identifying countries, which are failed to take appropriated steps to curb money-laundering and terror financing. In February 2012, Pakistan was placed last on FATF's grey list and stayed on it for 3 years.

To impose sanctions on countries not meeting the required standards is not under the purview of the watchdogs.

This will increase the cost of doing worldwide transactions and ultimately higher cost of doing business locally.

"We are now working with the US, UK, Germany and France for the nomination to be withdrawn", Ismail, who is the adviser to the prime minister on finance, revenue and economic affairs, told Reuters.

A senior official said that the objective of the motion was to urge Pakistan for taking action against terrorists without any discrimination.

To this end, the country's National Security Council (NSC) had asked federal and provincial governments "to complete the few outstanding actions at the earliest", the Pakistan-based daily reported.

New Delhi has taken note of Trump's proposal for allocating $256 million in civilian assistance and $80 million in military aid to Pakistan in the United States budget for the new financial year.

India will continue to highlight lack of adequate measures in Pakistan to curb flow of funds to terrorists, although US President Donald Trump again proposed a $80-million military aid for Islamabad.

Mamnoon Hussain, President of Pakistan, on Monday approved an ordinance to amend a section of the Anti-Terrorism Act (ATA), enabling the authorities to act against the terrorists and terror organizations proscribed by the United Nations Security Council, including sealing their offices and freezing their bank accounts.

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