Islamabad, Feb 25: Pakistan was retained in the “grey list” of Financial Action Task Force (FATF), which examined its efforts to counter terror financing and money laundering. The decision was taken at the meeting of the multilateral watchdog on Thursday.

“Pakistan should continue to work on implementing the three remaining items in its action plan to address its strategically important deficiencies, namely by: demonstrating that TF investigations and prosecutions target persons and entities acting on behalf or at the direction of designated persons or entities; demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions and demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists, specifically those acting for or on their behalf,” the FATF said in a statement to.

It noted today that Islamabad has made “significant progress” on the entire action plan and has now largely addressed 24 of the 27 action items.

It gave Islamabad time till June 2021 to complete the full action plan.

The FATF concluded its three-day virtual plenary meeting today, following several rounds of meetings of its working groups since February 11.

Pakistan has been on the FATF’s grey list since June 2018.