Daily Times

Grey may as well be the new black. As least as far as Pakistan’s ongoing grey-listing by the FATF (Financial Action Task Force) goes. Indeed, it is no longer any real comfort to know that the country hasn’t joined North Korea and Iran on the black-benches.

The main sticking point, according to the anti-money laundering body, is terror financing. It asserts that Pakistan has failed to do the needful on this front. This remains the single remaining item of the original list of 27 that the country committed to back in 2018.

Naturally, Pakistan must continue doing the needful. Yet the international community must also play its part. As things stand, it is not. There is the unilateral and unconditional American withdrawal in neighbouring Afghanistan that is likely to trigger a civil war and turn that country into a hub of global terrorist activity. This is to say nothing of how anti-Pakistan groups — both local and Indian — have long used Afghan soil to launch cross-border attacks targeting on this side of the Durand Line. Though whenever Islamabad raises these legitimate issues, Washington simply tells it to do more, more, more to secure the US exit from the quagmire of its own making.

Pakistan was first placed on the grey list in the run-up to the 2018 elections; just before this government took over at the helm. Since then, the ruling PTI has, among other measures, frozen the assets of banned outfits of Jamaat-ud-Dawa (JuD) and Jaish-e-Mohammad (JeM), including a combined total of 964 properties. Meanwhile, India is home to a black market uranium trafficking network and no one or their cat bats an eyelid.

All of which suggests that the grey-listing has become political in nature. Yet this may have less or do with the power of Indian diplomacy and more to do with New Delhi becoming an effective US protectorate state in this region; something that will continue under the Biden White House. The upshot being that Pakistan will remain encircled by the Americans long after their reckless departure from Kabul. At least figuratively so. The IMF still maintains a strong grip on Pakistan’s economy. And even though the Finance minster did well to stand firm and not play ball over demands to raise power tariffs and new taxes — it must not be forgotten that Washington, to a large extent, controls the Fund’s purse strings. Meaning that since the US holds 16 percent voting share at the IMF, it is well-positioned to strongly influence negotiations on those pesky stringent conditions. Especially now that Pakistan has categorically ruled out hosting American military bases on its soil.

It is hoped that India comes out from the US shadows and works with Pakistan to stabilise this region, particularly Afghanistan. For it must come to the uncomfortable realisation that the strategic partnership with Washington is neither in its interests nor those of this region. The sooner New Delhi wakes up to this fact the better. For everyone. *