Pakistan was out of the United Kingdom’s ‘high risk third countries’ list, Foreign Minister Bilawal Bhutto said. The development comes after the country exited the Financial Action Task Force’s “grey list” in October.

Bilawal, who shared the development in a tweet on Monday, hailed it and said: “some good news”.

Pakistan strengthened the effectiveness of its AML/CFT regime and addressed technical deficiencies to meet the commitments of its action plans regarding strategic deficiencies that the FATF identified in June 2018 and June 2021, the latter of which was completed in advance of the deadlines, encompassing 34 action items in total, according to FATF.

The UK Foreign, Commonwealth and Development Office presented its compliments to the High Commission for Pakistan.

“His Majesty’s Treasury issued an amendment to the UK’s ‘High Risk Third Countries’ list on 14 [of] November 2022 through a Statutory Instrument. The amendment removes Pakistan from the list in accordance with the decision taken by Financial Action Task Force (FATF) on 21 [of] October 2022. The FCDO recognizes the progress the Pakistan has made to improve money laundering and terrorist financing controls,” it read.

Bilawal had met his UK counterpart James Cleverly on sides of the COP27 in Egypt.

“Appreciate England’s support for Pakistan reconstruction & rehabilitation efforts post floods. Discussed our positive & historic bilateral relations & reaffirmed to continue working together for climate mitigation & adaptation.”