According to media reports, Pakistan may be placed on the Financial Action Task Force (FATF) grey-list for financing terrorism. FATF is an inter-governmental organization founded in 1989. Its main objectives are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terror financing and other related threats to the integrity of the international financial system. Earlier also, Pakistan was placed on the FATF grey list from 2012 to 2015. The decision to put Pakistan on the FATF grey-list was taken during a plenary meeting in February. Pakistan has failed to comply with the anti-money laundering and terror funding guidelines of FATF. The good thing for India is the case against Pakistan includes its torpor against the UN-banned terror groups like Taliban and Haqqani Network, Jaish-e-Mohammed, Lashkar-e-Taiba, Jamaat-ud Dawah and its affiliate Falah-i-Insaaniyat Foundation, besides terrorists including the mastermind of Mumbai 26/11 terror attacks-Hafiz Saeed and Masood Azhar.
Hafeez Saeed runs the Lashkar-e-Toiba and Azhar heads the Jaish-e-Mohammed, both the terror groups target India as well as Afghanistan. Pakistan sponsors terrorism in India and Afghanistan. Terror groups like LeT and JeM target the Indian security forces and try to harm the Indian interests. Both these terror groups are very active in sponsoring terror and unrest in the Kashmir valley. They provide funding to separatist groups to sponsor incidents of stone-pelting and secessionism. Pakistan’s intelligence agency ISI helps these terror groups by providing funds through money laundering and arms and ammunition. In fact, police officials of Pakistan government and ISI officers guard the headquarters of these terrorist organizations and also provide them with facilities required for living luxurious lives. A terrorist in Pakistan gets better treatment and facilities than citizens of Pakistan.
Because of such nurturing and care for the terrorists, now Pakistan is on the verge of getting placed into the FATF grey-list. Once Pakistan gets placed on the grey-list it will find it arduous to get an access to International markets which would directly affect its already crumbling economy. Pakistan’s whole economy depends upon money laundering and sponsoring terrorism. If it is placed on the grey-list, it will break the backbone of Pakistan. Nations like US, Britain, France and Germany are also pushing to place the terrorist country on the FATF grey-list.
However, ahead of the latest FATF meeting in Paris, Pakistani believes it can avoid being placed on the FATF grey-list by creating Money Laundering and Countering Financing of Terrorism Regulations, 2018. According to Geo TV report, PMO issued a statement reaffirming National Security Committee’s commitment to cooperate with FATF. The statement reads, “The committee reaffirmed the commitment of the country to work with FATF and other international organisations in achieving common goals and shared objectives.”
However, everyone knows how much Pakistani government is good at fulfilling its promises and commitments. Just last week, Pakistan’s Election Commission accepted the nomination papers of the son of terrorist Hafeez Saeed, Talha Saeed for contesting 25 July national elections. Hafiz Saeed’s political front Jamat Ud Dawah is also contesting for the polls under the banner of little-known party, Allah-o-Akbar Tehreek.
There is huge dissonance between what Pakistan says and what it does.
If Pakistan gets placed on the grey-list then it will further isolate the country internationally. Since the BJP government has come to power, it has worked towards isolating Pakistani state internationally and diplomatically with projects like Kishanganga Hydroelectric Plant and carried out surgical strikes on terrorist launched pads active in PoK.