Islamabad (February 23, 2018): A global money-laundering watchdog has decided to place Pakistan back on its terrorist financing watchlist, in a likely blow to both Pakistan’s economy and its strained relations with the United States.
Pakistan will be included in the list in June this year, sources told.
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According to the details, global money-laundering watchdog has placed Pakistan back on its terrorist financing watchlist.
The move is part of a broader US strategy to pressure Pakistan to cut alleged links to militants waging chaos in neighbouring Afghanistan.
It comes days after reports that Pakistan had been given a three-month reprieve before being placed on the list, which could hamper banking and hurt foreign investment.
Earlier in the week China, Turkey, and the Gulf Cooperation Council (GCC) were opposing the U.S.-led move against Pakistan but by Thursday night both China and Saudi Arabia dropped their opposition.
Interior Minister Ahsan Iqbal took to Twitter to thank Turkey for its unwavering support “against all odds”.
“The decision was taken yesterday,” the diplomat said.
The move comes days after reports that Pakistan had been given a three-month reprieve before being placed on the list, which could hamper banking and hurt foreign investment.
On Tuesday, Foreign Minister Khawaja Asif tweeted that Pakistan had received a 3-month reprieve, adding that it was “grateful to friends who helped”.
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Washington has spent the past week lobbying member countries of the Financial Action Task Force (FATF) to place Pakistan on the so-called “grey list” of nations that are not doing enough to combat terrorism financing.
Pakistan was previously on the list for three years until 2015.
Pakistani officials and analysts fear being on the FATF watchlist could endanger its handful of remaining banking links to the outside world, causing real financial pain to the economy just as a general election looms in the summer.
Under FATF rules one country’s opposition is not enough to prevent a motion from being successful. Britain, France and Germany backed the U.S. move.
Pakistan was previously on the list for three years until 2015.
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