According to media reports, a delegation of the Financial Action Task Force (FATF) has asked Pakistan to toughen its laws and implementation against terror financing and money laundering.
The Asia Pacific Group (APG) on Money Laundering, which is currently in Pakistan, will submit a report to the Paris-based FATF which placed Pakistan on its 'grey list' in June.
The delegation urged Pakistan to enact appropriate laws enabling local officials to act upon requests of foreign countries to freeze illegal assets and extradite those involved in terrorism financing and money laundering.
Moreover, the delegation met officials of the Financial Monitoring Unit (FMU) of the State Bank of Pakistan, Securities and Exchange Commission of Pakistan (SECP), National Counter Terrorism Authority (NACTA), Federal Investigation Agency (FIA) and representatives of ministries of interior and foreign affairs.
The APG's Mutual Evaluation report can play a critical role in retaining or removing Pakistan from the grey list.
Pakistan needs to follow the 10- point action plan which it committed to FATF earlier this year.