Global terror watchdog Financial Action Task Force (FATF) on Friday strongly urged Pakistan to "swiftly complete" its full action to remove terror by February 2020, failing which will lead to stringent action against the nation.
It said that Pakistan has failed in complying with 22 out of 27 suggested action plans to curb terrorism. The global watchdog has now sent a strong warning to Islamabad.
"Strongly urge Pakistan to swiftly complete its full action plan by February 2020 otherwise should significant and sustainable progress not be made across the full range of its action plan by next Plenary, the FATF will take action," said the global watchdog in a fresh statement.
FATF also warned that a part of the action will include urging members to advise their financial institutions to give special attention to business relations/transactions with Pakistan.
Pakistan is under extreme pressure as the FATF will take a decision on whether to retain the grey list designation for Islamabad or blacklist it alongside Iran and North Korea. The crucial decision will be announced by the FATF on Friday though sources indicate that Pakistan may only escape with a warning this time.
The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020. Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action which could include the FATF calling on its members and urging all jurisdictions to advise their financial institutions to give special attention to business relations and transactions with Pakistan, the global anti-terror financing body said.
Pakistan was placed on the grey list by the global terror watchdog in June last year and also gave Pakistan a detailed plan of action to complete it by October 2019 or face the risk of being placed under blacklist.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
Earlier, sources privy to the proceedings said Pakistan would remain on FATF grey list despite efforts of the country to muster votes to get off that list.
"Pakistan in pre-plenary meetings was trying to achieve two things - to get off the grey list and secondly, to block any move to be blacklisted," sources said.