Pakistan’s finance ministry has said it has asked the Financial Action Task Force (FATF), an international terror financing watchdog, to remove India as co-chair of its Asia-Pacific Joint Group.
In June last year, the Financial Action Task Force (FATF) had placed Pakistan on the grey list of countries whose domestic laws are considered weak to tackle the challenges of money laundering and terrorism financing.
In a letter addressed to FATF President Marshall Billingslea, Pakistan Finance Minister Asad Umar asked him to appoint any other member country besides India as co-chair of the Asia-Pacific Joint Group “to ensure that (the) FATF review process is fair, unbiased and objective”, the finance ministry said in a statement.
“India’s animosity towards Pakistan was well known and the recent violation of Pakistan’s airspace and dropping of bombs inside Pakistani territory was another manifestation of India’s hostile attitude,” Umar wrote in the letter.
The minister said Pakistan firmly believes that India’s involvement in the ICRG process will not be fair towards Pakistan and urged that FATF appoint another country as co-chair of the Joint Group instead of India to ensure an impartial assessment of Pakistan’s progress in regard to the FATF action plan.
“Given the clear Indian motivation to hurt Pakistan’s economic interests, Indian presence among the evaluators and as co-chair of the Joint Group would undermine the impartiality and spirit of the ‘peer review’ process, which lies at the heart of FATF’s methodology and objective assessment,” Umar wrote.
The Paris-based global body (FATF) is working to curb terrorism financing and money laundering and has asked Pakistan to reassess the operation of banned terrorist outfits in the country.