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NSC reaffirmed its commitment to implement action plan

07 July, 2018

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ISLAMABAD: The National Security Committee (NSC) has reaffirmed its commitment to implement the action plan agreed with the Financial Action Task Force (FATF), the international illicit financing watchdog for checking terror financing and money laundering. Members of the NSC discussed the action plan during a meeting held here on Friday

“The participants reiterated a firm commitment to fulfilment of obligations regarding combating money-laundering and terror financing,” said a statement issued by the Prime Minister Office on the NSC meeting.

The meeting coincidentally took place on a day that was dominated by the news about former prime minister Nawaz Sharif’s conviction and sentencing in a corruption case by an accountability court. Although the statement made no mention of the discussion on the possible implications of the judgement for the country’s political scenario and upcoming elections, there were speculations that the committee examined the possible scenarios.

A Pakistani delegation led by Finance Minister Shamshad Akhtar visited Paris for negotiating the action plan with officials of the FATF and International Co-operation Review Group.

The FATF, while notifying Pakistan on its grey list, had noted that it welcomed “the high level political commitment of Pakistan to their action plan”.

It should be recalled that the NSC at its last meeting in June had extended the commitment to implement the action plan.

The FATF requires high-level political commitment from the country concerned to implement the needed legal, regulatory and operational reforms.

The statement said the NSC members discussed the way forward for addressing the international concerns about the weaknesses in the national counter-terror financing and anti-money laundering regimes. The meeting also reviewed the economic situation of the country.

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