New Delhi: Army Chief General Bipin Rawat on Saturday said that Pakistan was under pressure to take action against terrorists, a day after global financial watchdog Financial Action Task Force (FATF) gave Islamabad until February 2020 to act on a 27-point action plan given to it in June 2019.
Speaking to news agency ANI before flagging off ‘The Ultimate Run’, an event organised by the Army to honour the next of kin and disabled soldiers, the Army Chief said, “There is pressure on them (Pakistan). They have to take action. We would like them to work towards restoring peace. To be on such a ‘Grey List’ is a setback for any nation.”
On Friday, the Paris-headquartered FATF, which had, in June, given Pakistan until October to implement the 27-point action plan, found it to have failed on 22 points and gave it until February next year to implement the plan and curb terror financing on risk being blacklisted by the watchdog.
Pakistan is currently on the FATF’s ‘Grey List’, which is one among three categories, the other two being ‘White’ and ‘Black’. It was put on the Grey List in June.
Being blacklisted by the FATF, for a nation, means inviting immediate economic sanctions, facing difficulty in punishment-borrowing, non-financial banking institutions coming under financial scrutiny and bailouts and packages by the International Monetary Fund (IMF) becoming harder to access.
However, avoiding blacklisting isn’t really that difficult as a nation needs support from just three members to do so. In Pakistan’s case, it received support from ‘all-weather friend’ China, which currently also hold the FATF’s presidency. The other two members to support Islamabad were another of its close aide Turkey and Malaysia, which, at the UN General Assembly session last month, supported Pakistan’s stand over the ongoing issue in Jammu and Kashmir.