ISLAMABAD/BERLIN: Pakistan is expected to exit from the Financial Action Task Force’s (FATF) grey list as it has implemented 32 out of 34 points under the two different action plans of FATF.

A four-day meeting of the Paris-based watchdog for global money laundering will commence from Tuesday (today) in Berlin in which matters related to Pakistan will be discussed on June 15 and 16, according to a finance ministry source.

The European Union delegation would hold a press conference on May 17 at 4:30pm to announce its decision on the listing of countries in its grey and black lists. Pakistan is

FATF delegates representing 206 members of the Global Network and observer organisations, including the International Monetary Fund, the United Nations, the World Bank and the Egmont Group of Financial Intelligence Units, will take part in the last Plenary from June 14 to 17, said a statement on the FATF website.

Pakistan has implemented 26 out of 27 points under the 2018 action plan of the FATF and six out of seven points under the 2021 action plan.

Minister of State for Foreign Affairs Hina Rabbani Khar, who is representing the Pakistani delegation at the FATF meeting, has reached the German capital.

The country has been on the FATF grey list also known as the list of ‘jurisdictions’ under increased monitoring since June 2018, for “terrorist financing and money laundering” risks.

In June last year, the FATF, at end of its five-day moot, announced that Pakistan will continue to remain on the watchdog’s grey list, despite the country’s best efforts to convince the watchdog that it had implemented 26 of the 27-point action plan to move out of the grey list.

Sources said that Pakistan’s position in FATF is better and the country is likely to get some good news during the meeting as it has met almost all the targets to get out of the grey list. Getting out of the grey list would have a positive impact on the economy

The outcomes of the FATF Plenary will be published on Friday after the close of the meeting, said the watchdog in the statement.

“Pakistan made a high-level political commitment to work with the FATF to address its deficiencies, the country’s continued political commitment has led to significant progress across a comprehensive counter-terrorist financing action plan,” the watchdog said in its report issued in March this year.