ISLAMABAD: Pakistan is one step closer to being removed from the Financial Action Task Force's (FATF) grey list, as it has completed all points of the 2018 action plan, received FATF approval, and begun the process of onsite verification, which is required to officially remove the country from the grey list.

Late Friday, FATF President Marcus Pleyer announced the conclusion of the four-day plenary session in Berlin and the approval of Pakistan's performance report, adding that an official statement would be made after an onsite visit. "A FATF onsite inspection in Pakistan will be completed before October, followed by a formal declaration on Pakistan's withdrawal," said Pleyer.

The FATF applauded Pakistan's performance in executing the organization's action plans, indicating that Islamabad is making progress toward removing itself from the grey list.

Minister of State for Foreign Affairs Hina Rabbani Khar, who led Pakistan's delegation to the FATF plenary session in Berlin, stated that no additional action is needed to meet the demands.

"The 2018 action plan has come to an end, and Pakistan's actions are no longer pending. I'm happy to report that Pakistan has completed the full seven-point action plan a year ahead of schedule ", she said.

Pakistan presented three progress reports to the FATF in respect to the action plan it announced last year in regards to money laundering, which the watchdog's experts thoroughly examined.

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