Pak 'informal' committee to discuss FATF bills

Islamabad

The 'informal' committee comprising Pakistani government and opposition lawmakers is likely to meet on Monday in an effort to to end a deadlock on four bills related to the Financial Action Task Force (FATF).

Initially a 24-member committee, headed by Foreign Minister Shah Mahmood Qureshi and comprising members from the ruling Pakistan Tehreek-i-Insaf and its allies and opposition parties, including the Pakistan Muslim League-Nawaz and Pakistan Peoples Party, examined the bills before tabling them in both the Houses of Parliament for final approval, reports Dawn news.

However, due to the deadlock on the proposed bill to amend the National Accountability Ordinance, the opposition members boycotted the meeting and subsequently, the committee stood dissolved.

Sources said National Assembly Speaker Asad Qaiser intervened and convinced the government and opposition parties to hold informal talks so that necessary FATF-related legislation could be finalised.

Pakistan has to submit a compliance report to FATF on September 30.

The country has been working hard to pass FATF-related bills in Parliament and the Senate and has sought opposition's support in doing so.

Pakistan has remained on FATF's grey list for failing to implement and comply with the 27-point action plan that it was handed over by the Asia Pacific Group (APG) and the FATF.

Till now, government sources said that there is complete compliance of at least 16 out of the 27 points, adding that the approval of legislation would help in fulfilling the remaining and pending compliances, paving the way to ensure Pakistan's removal from the FATF grey list.