International terror financing watchdog FATF on October 18 retained Pakistan on the Grey List and warned the country of action for its failure in combating money laundering and terror financing, officials said.
The decision was taken after a five-day plenary of the Financial Action Task Force (FATF) held here.
FATF President Xiangmin Liu said, "Pakistan needs to do more and faster. If by February 2020, Pakistan doesn't make significant progress, it will be put in the 'Black List'," according to news agency ANI.
The FATF noted that Pakistan addressed only five out of the 27 tasks given to it in controlling funding to terror groups like the Lashkar-e-Taiba and Jaish-e-Mohammad, responsible for series of attacks in India.
"It was again decided by consensus that FATF would retain Pakistan on the Grey List and warn Pakistan that if it did not complete its full Action Plan and show significant and sustainable progress action will be taken," an official privy to the development said.
Pakistan was placed on the Grey List by the Paris-based watchdog in June 2018 and was given a plan of action to be implemented by October 2019, failing which it would face the risk of being placed on the Black List with Iran and North Korea.
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