Islamabad: Financial experts have indicated that Pakistan’s exit from the Financial Action Task Force (FATF)’s Grey List is expected to attract substantial foreign direct investment (FDI) and fix liquidity-related issues in the country, news sources reported on October 25.
The experts have indicated that the exit from the grey list is positive news for the industry and development sector as it will boost investors’ confidence in the country and provide much-needed cash to stabilize the economy. In his prediction of the post-exit scenarios, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Shaikh said that the exit will enhance Pakistan’s credit rating in the international market and much-needed fiscal space for the government to introduce and implement reforms in the economy. He also hoped that the international lenders, including the International Monetary Fund (IMF), Asian Development Bank (ADB), and World Bank, would now invest and lend more loans on soft terms.
Other experts also hoped for a positive economic trajectory for the post-grey list exit. They also hoped that the development would promote a softer image of Pakistan. It is worth noting that, after four years, Pakistan has just been removed from the FATF-enhanced surveillance list or grey list.
During this time, Pakistan implemented several legislative and procedural reforms in response to FATF requirements to combat money laundering through anti-money laundering and counter-financing terrorism (AML/CFT) legislation and regulations.
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