Pakistan has been 'grey listed' by FATF for its failure to curb terror outfits and terror financing

Highlights Pakistan put on 'grey list' by global watchdog FATF over terror financing

India welcomes decision, says Pak must now act "in a time-bound manner"

Pakistan has committed to a 26-point action plan over next 15 months

India has welcomed the decision taken by the Financial Action Task Force or FATF, a global anti-money laundering body, to put Pakistan on the terror watch list. Pakistan, which was assessed as having failed to curb terror financing, has been put on the "grey list". New Delhi also hoped that Islamabad will now take credible measures to address the serious concerns the international community has on terrorism emanating from Pakistan.

Responding to the development, official spokesperson of the Ministry of External Affairs Raveesh Kumar said, "India welcomes the decision of the Financial Action Task Force (FATF) to place Pakistan in its Compliance Document (Grey list) for monitoring by the International Co-operation Review Group"

New Delhi, he said, also hopes that the action plan suggested by the global watchdog will be complied with by Islamabad in a time-bound manner.

"We hope that the FATF Action plan shall be complied with in a time-bound manner and credible measures would be taken by Pakistan to address global concerns related to terrorism emanating from any territory under its control," the External Affairs Ministry spokesperson said.

India has been seeking global action against Pakistan for allowing terror safe havens within its territory and in territories under its forceful occupation. New Delhi has also been pressing for punishing Pakistan-based terrorists involved in a series of terror attacks in India, including the 2008 Mumbai attack.

"Pakistan has given a high-level political commitment to address the global concerns regarding its implementation of the FATF standards for countering terror financing and anti-money laundering, especially in respect of UN designated and internationally proscribed terror entities and individuals. The freedom and impunity with which designated terrorists like Hafiz Saeed and entities like Jamaat-ud-Dawa, Lashkar-e-Taiba, Jaish-e-Mohammed continue to operate in Pakistan is not in keeping with such commitments," Mr Kumar said.

Despite Islamabad's diplomatic efforts to prevent it from being put on the terror watch list, on June 27, for its failure to curb terror outfits and its financing, Pakistan was formally put on the FATF 'grey list'.

Pakistan has committed to a 26-point action plan, which would be implemented over the next 15 months. The plan includes completely blocking the finances of terror groups like Jamaat-ud-Dawa, Falah-i-Insaniat, Lashkar-e-Taiba, Jaish-e-Muhammad, among others. Failing to do so would lead Pakistan to be put on the 'black list', which would have a serious impact on its trade and economy.

