Pakistan has no let-up from its financial crises as the anti-terror financing body, the FATF, has retained its on the Grey List.
The FATF placed Pakistan on the Grey List for the first time in June 2018. It has been on the list for four years because of its 'failure' to comply with the FATF mandates. Due to its placing on the Grey List, it has become difficult for Islamabad to get financial aid from the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB) and the European Union.
The FATF has asked Pakistan to investigate and prosecute UN-designated terrorists, including Hafiz Saeed and Masood Azhar. It also asked Pakistan to work to address its strategically important deficiencies.
FATF president Marcus Pleyer also said that three new countries -Turkey, Jordan, and Mali – have been added to the Grey List since this year. It may be mentioned that Turkey, from time to time, has been taking a pro-Pakistani stance in various international fora.
Pakistan's reluctance or failure to take action and prosecute designated terrorists like Masood Azhar has also gone against its interest at the FATF. Sources say at least eight terror camps have reopened in Pakistan Occupied Kashmir (PoK), displaying complexity in Pakistani role vis-à-vis terror organisations.
Moreover, reports suggest at least 25 to 30 terrorists have infiltrated into India since January 2021, and perhaps about 80 of them have been eliminated or prevented from entering Indian territory.