Islamabad: Pakistan’s Senate on Thursday unanimously approved two bills related to the tough conditions set by the global money laundering and terrorist financing watchdog FATF, a day after they were passed in the National Assembly amidst vociferous protest from the Opposition parties.
The United Nations Security Council (UNSC) Amendment Bill, 2020, and the Anti-Terrorism Act Amendment Bill, 2020, were presented by Advisor to Prime Minister on Parliamentary Affairs Senator Babar Awan.
The bills include measures of freezing and seizure of assets, travel ban, and arms embargo on the entities and individuals, who are designated on the sanctions list of the United Nations and impose heavy fine and long term jails for those facilitating militancy.
The two bills passed by the National Assembly on Wednesday fulfil various requirements of the Paris-based Financial Action Task Force (FATF) which put Pakistan on its grey list in June 2016 after Islamabad agreed to implement a 27-point plan of action to improve its legal regime to curb money laundering and terror financing.
The UN Security Council Resolution 1373 made it incumbent on the member states to implement counter-terrorism measures, especially countering the financing of terrorism through their domestic laws.
The legislation was part of efforts by Pakistan to move from the FATF’S grey list to the white list.
The FATF put Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action by the end of 2019 but the deadline was extended later on due to COVID-19. (PTI)