FATF and Pakistan

Published March 12, 2018

THE withdrawal of support by China and Saudi Arabia against placing Pakistan on the Financial Action Task Force watch list clearly shows realism in international relations. Modern day states only pursue their individual interests.

The Turkish support to Pakistan at this point is welcome and will be remembered for a long time. Fortunately, Pakistan has survived being placed on the FATF watch list till June this year.

This US- led move backed by Britain, Germany and France is not only an attempt to isolate Pakistan internationally but also poses serious threats to the country’s financial system. Certainly, the move is an effort by the US to make Pakistan an scapegoat for its failure in Afghanistan even after spending trillions of dollars in a fight that is a recall of Vietnam.

On the other hand, Pakistan is right in believing that the US-led move is politically motivated and unjustified as most of its concerns were addressed in 2015 when Islamabad was grey listed owing to alleged money laundering and terror financing.

Ironically, the Washington-led move is a negation of the implementation of its own money laundering and terror financing laws.

The US and the West must first themselves adhere to the international money laundering obligations and then impose it on others.

Noor Ahmed Baloch
Nawabshah

(2)

THE media in recent days has been rife with speculations pertaining to Pakistan being placed on the FATF grey list. Placing Pakistan on the grey list was forcefully backed by none other than our --not so reliable-- ally, the United States of America.

The aggressive US posture is not surprising when viewed in the background of the China-Pakistan Economic Corridor. All the same, the charges levelled against Pakistan by the US and its allies are serious. It is in Pakistan’s interest to deal with this matter on a war-footing

The US wants to tighten the noose around Pakistan to ensure India’s hegemony in the region. The FATF is Washington’s latest weapon of choice in pursuing this goal.

Islamabad must act promptly and prudently to steer clear of this plot. For that deep thought and unity of action among stakeholders in Pakistan is the first step.

Fazal Elahi
Islamabad

Published in Dawn, March 12th, 2018

Opinion

Accessing the RSF

Accessing the RSF

RSF can help catalyse private sector inves­tment encouraging investment flows, build upon institutional partnerships with MDBs, other financial institutions.

Editorial

Madressah oversight
Updated 19 Dec, 2024

Madressah oversight

Bill should be reconsidered and Directorate General of Religious Education, formed to oversee seminaries, should not be rolled back.
Kurram’s misery
Updated 19 Dec, 2024

Kurram’s misery

The state must recognise that allowing such hardship to continue undermines its basic duty to protect citizens’ well-being.
Hiking gas rates
19 Dec, 2024

Hiking gas rates

IMPLEMENTATION of a new Ogra recommendation to increase the gas prices by an average 8.7pc or Rs142.45 per mmBtu in...
Geopolitical games
Updated 18 Dec, 2024

Geopolitical games

While Assad may be gone — and not many are mourning the end of his brutal rule — Syria’s future does not look promising.
Polio’s toll
18 Dec, 2024

Polio’s toll

MONDAY’s attacks on polio workers in Karak and Bannu that martyred Constable Irfanullah and wounded two ...
Development expenditure
18 Dec, 2024

Development expenditure

PAKISTAN’S infrastructure development woes are wide and deep. The country must annually spend at least 10pc of its...