Lamenting on Pakistan's economic state, Pakistan Prime Minister Imran Khan has admitted that Pakistan's dependence on UAE, China, and Saudi Arabia for funds is not good for its dignity. In a video accessed on Thursday, shows Khan admitting that Pakistan is a nation which can never become self-dependent, due to its dependency on other foreign nations. He added that hence, his government is trying to promote industrialization to better Pakistan's wealth gap.
"When I went to foreign nations to collect funds, I am very grateful to the UAE, China, and Saudi Arabia and Qatar. But this is not good for the dignity of a nation, asking for loans from others. Such a nation can never become self-dependent. Hence, we are trying to promote industrialization in the country, enhance the economy, create wealth and collect taxes to uplift only the poor," he said.
Earlier on November 17, Pakistan accepted technical assistance offered by the European Union for the implementation of the Financial Action Task Force Action Plan by the country. The EU has also recognised the challenges faced by Pakistan in the handling of the most protracted refugee situations and further assured the country for constant assistance. Meanwhile, reports had suggested that FATF will keep Pakistan in the grey list till February 2020.
The FATF placed Pakistan on Grey List in June 2018. Pakistan was given 15 months to complete the implementation of an action plan. In August 2019, the Asia Pacific Joint Group (APJG) placed Pakistan in the enhanced follow up list for failure to meet the standards. The list was based on technical compliance and rated 'satisfactory' on meeting 10 points out of the 40. Depending on FATF's decision, Pakistan may or may not join the blacklist with Iran and North Korea. Meanwhile, the US has urged Pakistan to prevent militant groups from operating on its soil and prosecute top Lashkar-e-Taiba (LeT) operatives along with its leader Hafiz Saeed.