ISLAMABAD: The Federal Minister for Finance and Revenue, Shaukat Tarin said that Pakistan would exit from the grey list of Financial Action Task Force (FATF) this year as it has already achieved almost all targets set by the task force. “We have completed 26 conditions out of 27 of the action plan,” the minister, who is in Dubai, told Khaleej Times and termed the FATF decision as politically motivated. It is pertinent to mention that on Friday, the FATF announced that it was retaining Pakistan on the grey list while noting that significant progress had been made in completing the required action items for removal from the list. In a statement, the FATF said that Pakistan completed 26 of the 27 action items in its 2018 action plan. It encouraged Pakistan to continue to make progress to address the one remaining item as soon as possible. It further added since June 2021, Pakistan has taken swift steps towards improving its AML/CFT regime and completed six of the seven action items ahead of any relevant deadlines expiring. “Pakistan should continue to work to address the one remaining item in its 2021 action plan by demonstrating a positive and sustained trend of pursuing complex money laundering investigations and prosecutions,” the statement said. Meanwhile, Head of Research at Pakistan Kuwait Investment Company, Samiullah Tariq said Pakistan was already in the grey list since 2018, so there was no major impact expected on business and markets in near term. “In my view Pakistan’s performance has been impressive while complying with FATF parameters and it is also acknowledged by the FATF. Pakistan should have been excluded from the grey list amid considering its significant progress on improving its financial system and check terror financing,” Tariq told Khaleej Times. In a statement, the finance ministry said Pakistan presented its case in an effective manner and also reaffirmed its political commitment to continue with the efforts to complete the action plans. “The FATF reviewed Pakistan’s progress on both action plans in its plenary meeting. The FATF members, while participating in the discussion on Pakistan’s progress, recognised Pakistan’s continuing commitment towards sustainable, robust AML/CFT frameworks,” the statement said. “The country is making endeavours to complete the last two remaining items of both the action plans, as early as possible,” the statement said.