Pakistan, a habitual offender on matters related to terrorism and terror financing is all set to be put in the ‘Dark Grey list’ by the Financial Action Task Force (FATF) on October 18th. It has been found to be compliant in only 6 out of the 27 parameters that were set by the terror financing watch dog for them.
Pakistan has been on the ‘Grey list’ since June 2018 and had been issued a warning for its inaction in combating terror finance related crimes. They had been given time till October 2019 to implement the FATF measures or risk being black listed and join nations such as Iran and North Korea.
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This ‘Dark Grey list’ is a sort of final warning before being put on the black list. This means that Pakistan with an already precarious financial situation will find it difficult to access loans from the World Bank, IMF, EU and other nations.
The FATF plenary session is currently under way under the chairmanship of China. A sper sources, no country is expected to support Pakistan this time around and sliding down this list is a likely outcome.
FATF which is headquartered out of Paris was founded in the year 1989 and serves as a terror financing watch dog.
South Asian expert and author Priyajit Debsarkar believes that this is a logical outcome as Pakistan refuses to take action against either the terrorists housed on its soil or terror financing. He says: “expecting Pakistan to fight terror financing is akin to handing over drug de addiction programs to a drug peddler. “ He has also lashed out at Pakistan for calling itself a victim of terrorism. He opines that it is akin to Cocaine calling itself a victim of addiction.
The government of India has as a part of its diplomatic strategy managed to isolate Pakistan globally and this will give a further boost to the supporters of financiers of terrorism.