Pakistan to put in Grey List by FATF

Paris Feb 24: In a Major Embarrassment for Pakistan the Financial Action Task Force (FATF) has voted to put Pakistan on Grey list after June. The decision was taken by the watchdog committee on Terror Financing.

Earlier USA and UK have moved a resolution to include Pakistan in Grey list as it was doing nothing to eradicate terrorists in the country and has misused funds for terror groups.

FATF has listed Ethiopia, Iraq, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu, and Yemen.Sources said that Pakistan would be put in the list after June if the country fails to submit the action plan to eliminate terror funding.

Sources said that China and Saudi Arabia have voted against Pakistan as India put pressure on them to vote against the country.

Experts said that this decision would impact Pakistan in a major way as it would make difficult for the country to raise funds for development of the country.