Pakistan PM forms panel to execute FATF tasks

Islamabad: Pakistan Prime Minister Imran Khan has set up a 12-member committee to ensure the execution of Paris-based Financial Action Task Force's (FATF) 27-point action plan, days after the country was put on a terror 'blacklist' for its failure to curb funnelling of funds to terrorist outfits, according to a media report.

The move comes after the anti-money laundering watchdog's Asia Pacific Group last week placed Pakistan in an 'Enhanced Expedited Follow Up List' and found that the country was non-compliant on 32 of the 40 compliance parameters related to terror financing and money laundering.

Led by Minister for Economic Affairs Division Hammad Azhar, the National Financial Action Task Force Coordination Committee comprises federal secretaries of finance, foreign affairs and interior besides heads of all the institutions and regulators concerned with money laundering and terror financing, the Dawn newspaper reported.

The committee is mandated to steer the national effort on FATF, said a notification issued by the Prime Minister's Office, adding that the committee will ensure execution of all FATF-related tasks till Dec 21.