AS usual, the government is again rejoicing after the announcement by Financial Action Task Force (FATF) that Pakistan has met all the conditions needed to get out of the so-called ‘grey list’.

In fact, in a meeting held in Berlin, a few days ago, it was decided that FATF would carry out an on-site visit in October to verify Pakistan’s progress in tackling terrorism financing before deciding whether the country should be taken off the grey list.

I really fail to understand as to what is there to rejoice at this stage. The ousted prime minister did the same during his time after attending every meeting of FATF in Paris. Now the government and its ministers are also beating the drums. No one can say for sure what will happen in October. Except China, some of its founding members, like the United States, the United Kingdom, and even Saudi Arabia, are on record having opposed our removal from the list. India, of course, is leading the group of opponents.

Getting out of grey list would enable us to receive IMF bailout package without the kind of hassle that we face today. Once formally removed from the list, Pakistan would also have its credit rating improved, thus giving confidence to foreign investors.

But, for now, we must adopt wait-and-see policy before celebrating what is being perceived as a victory.

Cdre (retd) Sajjad Ali Shah Bokhari
Islamabad

Published in Dawn, July 7th, 2022