Planning Minister Ahsan Iqbal said on Tuesday that the incumbent government took many steps to bring Pakistan out of the grey list of the Financial Action Task Force (FATF). All relevant institutions including the Pak Army have shown excellent performance that paved the way for the country to be included in the FATF white list, he said.

“Pakistan has completed all the prerequisites of FATF and soon it will be out of the grey list,” the minister said while briefing the media persons about the decisions taken in the Federal Cabinet meeting in Islamabad on Tuesday.

Last week, the Financial Action Task Force in its meeting had expressed satisfaction with Pakistan’s performance but the money-laundering watchdog authorized an “onsite visit” to the country as a final step to its exit from the grey list.

Iqbal, while briefing the media about the economy, reiterated the government’s resolve to turn the economy around and provide relief to the poor segment of society.

Blaming the PTI-led government for striking a deal with the IMF under tougher conditions, the minister said the previous government damaged the goodwill of the country by not implementing the agreement with the international lender.

He said the incumbent government has opted to focus on the economy instead of populist politics. “The price increase of petroleum products was inevitable to save the country from the economic crisis.”

The minister said that the world was facing supply chain disruptions and the incumbent government was keeping an eye on it.

He expressed hope that foreign investors would invest in Pakistan and the country would soon be on track of progress.

Iqbal said that the prime minister had directed to ensure the supply of urea to the farmers, adding that the premier asked concerned authorities to expedite the procedure of obtaining it from China.

He said that the cabinet approved the formation of a committee to review the Trade Organization Act.

Iqbal said the cabinet also reviewed the situation of the GSP+ status of Pakistan which benefitted Pakistan to increase its exports.

The cabinet was taken into confidence about the situation of edible oil import from Indonesia, he said and added that all the ministries are working together to increase exports.

The minister said that difficult decisions had been taken to save the country from economic turmoil, adding that next year would be the year of economic stability.