FPCCI welcomes FATF decision

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has welcomed the decision of the Financial Action Task Force (FATF), a global body that fights terrorist financing and money laundering, by rejecting sponsored resolution by the US and fully supported by its allies placing Pakistan on a watch list of countries that financially aid terrorism, a statement said on Wednesday.

FPCCI President Ghazanfar Bilour said that the government deserves appreciation in defeating the resolution against Pakistan in a recently held meeting in Paris.

It could have affected the country’s international credit rating and could result in more financial difficulties because among other members it also included IMF and the World Bank, he said.

Bilour also applauded the efforts of Pakistani delegation led by DG Financial Monitoring Unit and Adviser to Prime Minister on Finance Dr Miftah Ismail.