{"id":291001,"date":"2022-10-23T07:42:21","date_gmt":"2022-10-23T02:42:21","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=291001"},"modified":"2022-10-23T07:42:21","modified_gmt":"2022-10-23T02:42:21","slug":"business-community-hails-fatf-decision-excluding-pakistan-from-inglorious-grey-list","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/business-community-hails-fatf-decision-excluding-pakistan-from-inglorious-grey-list\/","title":{"rendered":"Business community hails FATF decision excluding Pakistan from inglorious grey list"},"content":{"rendered":"<p> LAHORE<br \/>\nThe Federation of Pakistan Chamber of Commerce and Industry\u2019s United Business Group Saturday hailing the decision of the Financial Action Task Force excluding Pakistan from its inglorious grey list said it will herald an era of economic stability andboosting exports.<br \/>\nChairing UBG meeting here today it\u2019s Chairman Shahzad Ali Malik,Sitara-I-Imtiaz said here today that it\u2019s good omen<br \/>\nThe Financial Action Task Force has excluded Pakistan from the grey list of global watchdog on terror financing and money laundering after four years, in a major setback to India which has maintained that Pakistan had to take verifiable and irreversible steps to fight terrorism.He said as a result of FATF decision the economic activities will be accelerated and will help greatly to restore the confidence of investors across the globe.Bearing the cost of global politics,due to this restriction,Pakistan sustained a loss of USS38 bn to its GDP from 2009-2019.<br \/>\nHe said the FATF retained Pakistan on its grey list meaning no respite for the nation as it looks for financial aid amid the pandemic.He said it was difficult for a country to get financial aid from international organisation like IMF.<br \/>\nHe said Pakistan will welcome multinationals for foreign direct investment and joint ventures in their areas and sectors of interests and especially in IT,petroleum,minerals,agriculture,medical and engineering etc.He said Allah blessed Pakistan with abundant natural and minerals resources which can be fully exploited to maximum extent in collaboration with foreign investors.<br \/>\nShahzad Ali Malik said \u201cPakistan is no longer subject to FATF\u2019s increased monitoring process; to continue to work with APG (Asia\/Pacific Group on Money Laundering) to further improve its AML\/CFT (anti-money laundering &#038; counter-terrorist financing) system,\u201d.<br \/>\nHe said it was happy note that FATF itself acknowledged that Pakistan \u201cstrengthened effectiveness of its AML\/CFT regime and addressed technical deficiencies to meet commitments of its action plans regarding strategic deficiencies that FATF identified.\u201d Pakistan had lobbied hard with the west, especially the US, to exit the FATF grey list.<br \/>\nIt was put in the list in 2018 for \u2018failure to check risk of money laundering, leading to corruption and terror financing.\u2019<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LAHORE The Federation of Pakistan Chamber of Commerce and Industry\u2019s United Business Group Saturday hailing the decision of the Financial Action Task Force excluding Pakistan from its inglorious grey list said it will herald an era of economic stability andboosting exports. Chairing UBG meeting here today it\u2019s Chairman Shahzad Ali Malik,Sitara-I-Imtiaz said here today that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-291001","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Business community hails FATF decision excluding Pakistan from inglorious grey list<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/business-community-hails-fatf-decision-excluding-pakistan-from-inglorious-grey-list\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business community hails FATF decision excluding Pakistan from inglorious grey list\" \/>\n<meta property=\"og:description\" content=\"LAHORE The Federation of Pakistan Chamber of Commerce and Industry\u2019s United Business Group Saturday hailing the decision of the Financial Action Task Force excluding Pakistan from its inglorious grey list said it will herald an era of economic stability andboosting exports. Chairing UBG meeting here today it\u2019s Chairman Shahzad Ali Malik,Sitara-I-Imtiaz said here today that [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/business-community-hails-fatf-decision-excluding-pakistan-from-inglorious-grey-list\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-23T02:42:21+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 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