ISLAMABAD (9 News) – A Financial Action Task Force (FATF) cell has been set up in the office of Federal Board of Revenue (FBR) chairman.
According to the details garnered, the FATF cell has been placed under the Director General of Intelligence and Investigation, Islamabad. The FATF cell will ensure an effective and timely implementation of measures against terror financing carried out through currency smuggling.
The cell will seek information required for FATF-related work from the FBR, field formations, directorates and record of meetings. The FATF cell will serve as a focal point for all activities related to customs compliance for FATF issues.
Cell will seek information about FATF-related work from FBR, field formations, directorates and record of meetings
One of the major initiatives of the FATF recommendations is the establishment of the directorate of cross-border currency movement, which is mainly responsible for developing a national-level profile of currency traffickers.
Earlier, Pakistan has rejected the recent comments made by Indian Defence Minister Rajnath Singh, claiming that the Financial Action Task Force can anytime blacklist Pakistan.
According to a press release issued by the Foreign Ministry, the statement reinforces Pakistan’s concerns, repeatedly highlighted to the FATF membership, about India’s attempts to politicize the FATF proceedings to further its narrow and partisan objectives.
It added that India’s incessant smear against Pakistan and blatant partisanship also call into question its credentials to be co-chair of the Asia-Pacific Joint Group that reviews Pakistan’s progress to implement the FATF Action Plan. “Our concerns in this regard have been previously brought to the attention of FATF members,” it stated.
The statement said: “We hope that the broader FATF membership would take cognizance of India’s continuing malicious campaign against Pakistan and reject any attempt aimed at politicizing the FATF proceedings. It is important for FATF to ensure that the process remains fair and unbiased.”
On September 9, Pakistan’s 15-member economic team led by Minister for Economic Affairs Hammad Azhar had answered 125 questions on the first day of the session of Financial Action Task Force’s (FATF) Asia Pacific Group (APG) in Bangkok.