The Pakistan government has to submit the answers to the queries posed by FATF on January 8.
The Financial Action Task Force, the terror financing watchdog, forwarded a total of 150 queries after a compliance report was filed by Pakistan regarding actions taken by Prime Minister Imran Khan to curb terrorism.
According to a report in the Express Tribune, the finance ministry sources in Pakistan stated that the ministry received a questionnaire containing 150 queries.
In its queries, FATF asked Pakistan to provide a report on actions taken against terror financing, illegal cross-border movement of currency, etc. It also asked the authorities in Pakistan to submit details about legal actions taken against the network of madrassas currently operating in the country.
The Pakistan government has to submit the answers to the queries posed by FATF on January 8.
Pakistan had submitted a compliance report in response to 22 questions posed by FATF earlier this month. In its report on December 7, Pakistan gave detailed information about the actions taken against persons designated as terrorists by the United Nations. The country also reported about the sentences handed to these terrorists by the courts.
Pakistan has been given last and final warning to get its act together by acting on terror financing and money laundering by February of 2020 or it will be blacklisted by Paris based Financial Action Task Force (FATF).
FATF President Xiangmin Liu, at the end of week-long FATF meet in Paris, said, "Pakistan's failure to fulfil FATF's global standards issue we take very seriously, as a result, FATF is giving very clear warning, if by February 2020 country has not made significant progress, we would consider further action, which will potentially include placing country.. on the blacklist."
He said that the country "has not made sufficient progress" and it "has to do more and do it faster".
The country remains on the grey list of the body and has addressed only 5 of the 27 action plans it had committed to deal with terror financing. All deadlines in the action plans given by Islamabad have now expired, after repeated reminders to act.
Pakistan was put on greylist by the FATF last year, causing its economy a loss of US $10 billion annually. A blacklist will further have a detrimental impact on a weak Pakistani economy as investors won't be keen to invest in a country that is prone to terror financing.
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