Member British parliament Lord Nazir Ahmed of Kashmiri origin has sent a letter to British government for reviewing its decision to back US motion against Pakistan regarding placing the country on global terror-financing watch list of Financial Action Task Force (FATF).
He warned of serious repercussions if Pakistan is placed on the watch list. He said that flow of Foreign Direct Investment would suffer a major blow if motion is adopted by the member nations.
Nazir also accused Pakistan’s government of not taking timely action to counter the move.
As per news garnered thus far, UK has lent its support to US’s motion aimed at placing Pakistan on FATF’s watch list. The meeting of FATF will begin today on February-18 and would continue till February-23 this month in Paris.
Pakistan remains optimistic that motion wouldn’t be adopted by FATF as Turkey, Russia and China are content with the steps taken by Islamabad to curb terror-financing.
The FATF is an international policy-making and standard-setting body dedicated to combating money laundering and terrorist financing. However, watchdog lacks power to impose sanctions.