Pakistan could be blacklisted by FATF due to lobbying by India , expects loss of $10 billions yearly

Prime minister of India Narendra Modi is trying to make a bigger blow to Pakistan than air strikes. With this move of India, Pakistan will have to suffer a loss of 10 billion dollars every year. Pakistan’s financial situation is in a bad state already. Pakistan’s Foreign Minister Shah Mahmood Qureshi said on Tuesday that due to India’s lobbying, Pakistan could be blacklisted by the Financial Action Task force (FATF). Pakistan will have a loss of $ 10 billion yearly.

Pakistan’s Foreign Minister Shah Mahmood Qureshi said that if Pakistan is in the FATF Monitoring List then it can be damaged by an annual loss of $ 10 billion. FATF of Paris had put Pakistan in the list of surveillance countries in June last year. This list covers the countries which are considered weak in dealing with money laundering and the financing of terrorism.

FATF is working to curb terrorism and curb money laundering. They had asked Pakistan to re-assess the operationalization of restricted terrorist organizations in the country. Since the Pulwama terrorist attack, there is a huge international pressure on Pakistan to curb terrorist organizations like Jaish-e-Mohammed.

Qureshi told the media in Lahore that the State Department is calculating that if Pakistan is put on the black list of FATF, then how much damage will it be? He said that India is lobbying for this. He said that the government estimates that if it is kept in the surveillance list, then there will be a loss of $ 10 billion annually.

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