India to push FATF to place Pak back on 'grey list'

India is set to submit a dossier at the upcoming Financial Action Task Force (FATF) meeting, calling for Pakistan to be placed back on the grey list of the global money laundering and terrorist financing watchdog, said a senior government official.

- ASIT RANJAN MISHRA

"India will highlight multiple commissions and omissions by Pakistan, such as restitution of money, hosting terrorists, and buying military equipment with development funding. Pakistan has also failed to pass promised laws (such as Anti-Terrorism (Amendment) Bill, 2020). It should be sent back to the grey list by FATF," said the official who did not wish to be named.

The FATF grey list flags countries with "strategic deficiencies" in countering money laundering and terror financing. Re-entry into the list could have far-reaching consequences for Pakistan, including diminished foreign investment, increased borrowing costs, and tighter scrutiny from global financial institutions.