LAHORE: Pakistan could be blacklisted by the Financial Action Task Force (FATF) due to "lobbying by India", Foreign Minister Shah Mahmood Qureshi said as he estimated that the country could suffer USD 10 billion loss annually if it remains in the watchdog's grey list.In June last year, the Paris-based FATF had placed Pakistan on the 'grey list' of countries whose domestic laws are considered weak to tackle the challenges of money laundering and terrorism financing.The FATF is working to curb terrorism financing and money laundering and has asked Pakistan to reassess the operation of banned terrorist outfits in the country. Pakistan is under intense international pressure to rein in terror groups like the Jaish-e-Mohammed (JeM) after the Pulwama terror attack. It declared JeM and five other groups "high risk". The APG meeting would either accept the report or suggest changes to it.In case of the worst outcome, Pakistan may have to implement yet another Action Plan from October onwards. I ask India to bring its apprehensions on the table for review by Pakistan but avoid cancelling meetings.

Source: Economic Times April 02, 2019 11:37 UTC