FATF grey-listing caused ‘$38b losses (Pk went grey list in 2008 Ppp & Pmln

Oppostion Is Mafia

Minister (2k+ posts)
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ISLAMABAD:

Pakistanhas sustained a staggering $38 billion economic losses due to the Financial Action Task Force’s (FATF) decision to thrice placed the country on its grey list since 2008, says a new research paper published by an independent think-tank, Tabadlab.

The findings of ‘Bearing the cost of global politics -- the impact of FATF grey-listingon Pakistan’s economy’ by Dr Naafey Sardar come amid low chances of Pakistan exiting the grey list Thursday (today).

The FATF may retain Islamabad on the list of a handful of countries, whose anti-money laundering and terror financing laws are not fully compliant with global standards.

Sources said Pakistan’s progress on at least three out of six remaining action points need more work. However, a Finance Ministry source said that nothing could be said till the formal announcement by the global watchdog.

The research paper, published by Tabadlab -- an Islamabad-based think tank -- stated that grey-listing events spanning from 2008 to 2019, may have resulted in cumulative GDP losses worth $38 billion.

The losses are worked out on the basis of reduction in consumption expenditures, exports, and foreign direct investment (FDI).

The author argued that the data suggested that Pakistan’s removal from the grey list has at times led to the revival of the economy, as evident from an increase in the level of GDP for the years 2017 and 2018.

The paper also showed economic losses for the year of 2010, 2011 and 2016 when Pakistan was not on the grey list.

A large portion of $38 billion losses can be attributed to the reduction in household and government consumption expenditures, it added.

The research paper acknowledged that it was difficult to get “empirical evidence documenting these harmful effects”. In order to assess the losses, the author used synthetic control method to construct a counterfactual Pakistan that did not have any FATF interventions post-2008.

The author also acknowledged that there were limitations of the synthetic model, as events happening before and immediately after the grey listing can also carry adverse or positive implications for the economy.

One of the mechanisms by which FATF grey-listing can adversely affect the economy is through increased scepticism surrounding the economy’s future outlook. This will most likely lead to a decline in local investment, exports, and inward foreign direct investment.

Pakistan was placed in the FATF grey list in 2008 and exited the next year. Then again in 2012, it was removed from the list following amendments to the Anti-Money Laundering and Anti-Terrorism Act of 2015, in which measures were enacted to “confiscate the properties of the affiliated groups, as well as act against the financers of terrorist activities within the state”.

But FATF again put Pakistan back on the grey list in 2018. In June 2018, Pakistan was placed on a watch list of countries for persistently inadequate controls to deter terror financing and money-laundering. The decision to place Pakistan on the list was taken in February 2018 following a US-sponsored move supported by the UK, France and Germany.

The maximum economic losses in any year have been in 2019, when the economy sustained $10.3 billion losses, including $6.5 billion reduction in consumption expenditures. The second highest losses in any year have been shown in 2010 when the country had $6 billion losses. In that year Pakistan was not on the grey list.

The paper showed that the FATF sanctioning between 2012 and 2015 cost the economy approximately $13.4 billion. And even though, Pakistan saw itself out of the FATF’s crosshair in June 2015, it took a while for GDP to recover with an estimated loss of $1.54 billion in 2016. The author argued that this implied that the FATF sanctioning has short-to-medium run implications for the economy.

Following the exit from the grey list, Pakistan’s economy saw an estimated increase in GDP in 2017 and 2018.

It is possible that Pakistan’s re-entry in to the FATF grey list in June 2018, wiped off most of its GDP gains from the first half of 2018. This is followed by a staggering loss of $10.31 billion in 2019. The paper noted that the 2019 GDP losses were in line with the calculations of the Foreign Office, as suggested by Foreign Minister Shah Mehmood Qureshi’s interview with a Dubai-based newspaper.

The paper underlined that the decision of placing Pakistan on the grey list in 2018 appears to be against the FATF norms, as, normally, the decision materialises by taking into consideration the Mutual Evaluation Report (MER) of the respective country.

Pakistan has blamed the US-India nexus for its placement on the grey lit, although the diplomats in Islamabad believe that the FATF put Islamabad on the non-compliant list more because of technical reasons than the political ones.

A diplomat from an important country said that Pakistan’s progress on three action points was still below the desired results, which may result in its extension on the grey list for at least a few more months.
Source
 

Vitamin_C

Chief Minister (5k+ posts)
I dont think Pakistan will be removed from Grey List until Imran Khan is in power because he is afraid to do anything that will anger right wing and terrorist organizations in Pakistan. He has been the biggest defender of violent and radical Islam during the French terrorist attacks last year.
 

Ali-NZ

Minister (2k+ posts)
I dont think Pakistan will be removed from Grey List until Imran Khan is in power because he is afraid to do anything that will anger right wing and terrorist organizations in Pakistan. He has been the biggest defender of violent and radical Islam during the French terrorist attacks last year.
An utterly nonsense, IK has been showing the right side to the western world on how to resolve issues created by the West itself. Government must do whatever is required to do in order to get out of it and IK has done a lot since came into power.
 

Vitamin_C

Chief Minister (5k+ posts)
IK has been showing the right side to the western world on how to resolve issues created by the West itself.

You cant blame the victim for the problem. Instead of condemning of terrorist attacks Imran Khan is condemning French values which they hold since the French Revolution. Its their country and they have a right to their values.

Will you ban Eid festivals in Pakistan just because it is hurting the feelings of vegiterians in Canada?
 

Scholar1

Chief Minister (5k+ posts)
چیف جسٹس صاحب کو چاہئے کہ اس الیکشن کمیشن والوں کو نکال کر نئے لوگوں کو لگائیں اپنی مرضی سے نہ کہ کسی پارٹی کی مرضی سے کیوں کہ یہ الیکشن کمیشنر نے عوام کےلئے کام کرنا ہے نہ کہ کسی پارٹی کےلیے
 

shafali

Chief Minister (5k+ posts)
اگر یہ پرابلم اتنی دیر سے چل رہا ہے تو پٹواریوں اور جیالوں کی لائن بنا کر ان کو لتر مارنے چاہیئں۔
 

Vitamin_C

Chief Minister (5k+ posts)
اگر یہ پرابلم اتنی دیر سے چل رہا ہے تو پٹواریوں اور جیالوں کی لائن بنا کر ان کو لتر مارنے چاہیئں۔

If you study the dates more closly, its mostly been a problem during Imran Khan tenure.

PPP and PMLN quickly changed the laws and Pakistan was removed from Grey list within a few months every time once in 2008, again in 2012. Last time Pakistan was put on Grey list was June 2018 and its been 3 years Imran Khan is still not able to fix it.
 

Ratan

Chief Minister (5k+ posts)

With Over 5 Million Tweets, ‘Modi Job Do’ Trends At #1 On Twitter

by Tejas Joshi.....February 25, 2021

The #modi_job_do hashtag became the global hashtag with a humongous amount of students and opposition members participating in the campaign.

Rising unemployment in the country, frauds in exam processes, coupled with delays and failures in conducting and concluding various government exams in a given time period, resulted in students and opposition parties trending hashtags on Twitter against the Modi government on Thursday. The majority of trending hashtags on Twitter on Thursday was about rising unemployment, timely results of government exams, and reforms in examinations. #modi_job_do was the top hashtag on Twitter with over 5 million tweets. The other trending hashtags were #मोदी_रोजगार_दो (Modi give employment) and #Mama_Rojgar_Do, targeted at the CM of Madhya Pradesh.

Before the Covid-19 pandemic hit the world and brought the world economy to halt, India was already suffering through the highest unemployment of the past 45-years. The pandemic worsened the employment situation in the country, with private organizations laying off employees, daily wage laborers being left with no work, and governments delaying recruitment processes for various departments. Several million have lost their jobs. As a result, as of January 2021, India had only about 400 million employed.

According to an Indian Express report, the total number of openly unemployed people became 35 million. If over the past 12 months, the total number of employed people has fallen then it stands to reason that the total number of unemployed people will be anywhere between 40 to 45 million today.
 

blalbutt

Politcal Worker (100+ posts)
You cant blame the victim for the problem. Instead of condemning of terrorist attacks Imran Khan is condemning French values which they hold since the French Revolution. Its their country and they have a right to their values.

Will you ban Eid festivals in Pakistan just because it is hurting the feelings of vegiterians in Canada?
Eid festivals don't hurt the sentiments of vegetarians in Canada, people are free to practice anything they want. I think there are people in the world who don't agree that there is one God or God at all. However, no one has the right to mock and hurt the sentiments of others practice. Your point would have weight if you would have said that during Eid people target a segment of world population and mock them for not eating meat. Actual terrorists currently is French president who is bulldozing everything, where are human rights...is banning hijab the way to go? Is targeting a specific segment of the society solution to problems? I though liberalism allowed everyone to practice their religion
 

blalbutt

Politcal Worker (100+ posts)
If you study the dates more closly, its mostly been a problem during Imran Khan tenure.

PPP and PMLN quickly changed the laws and Pakistan was removed from Grey list within a few months every time once in 2008, again in 2012. Last time Pakistan was put on Grey list was June 2018 and its been 3 years Imran Khan is still not able to fix it.
Yes because their interests were with the western world and not with Pakistan *mic drop*

What a shame 3 times PM and living in UK. If he thinks people are with him then he should come to Pakistan, people will shower their love and support and no one can touch him. I thought he went for a medical condition?
 

blalbutt

Politcal Worker (100+ posts)
You cant blame the victim for the problem. Instead of condemning of terrorist attacks Imran Khan is condemning French values which they hold since the French Revolution. Its their country and they have a right to their values.

Will you ban Eid festivals in Pakistan just because it is hurting the feelings of vegiterians in Canada?
Adding more to that I think France should declare their culture a religion since they are shoving everything down your throat. People may agree or disagree but i definitely disagree with France being secular (if that means politics and religion should be separated) and i definitely dont' agree with their culture i.e. sexualizing kids on Netflix, hate speech, bigotry by their president, discrimination and the list goes on... i mean you can agree with it but i respectfully disagree with what they are doing and really appreciate Islam here *mic drop* again
 

Vitamin_C

Chief Minister (5k+ posts)
I though liberalism allowed everyone to practice their religion

Freedom of religion and freedom of concious is also part of freedom of speech French constitution. You are free to practise your religion as long as you are not causing physical harm to other people.

When French raided terrorist hideouts instead of finding copies of Qurans they find copies of pornography. Terrorism is not just caused by specific religion but illiteracy, lack of employment opportunities which plague immigrants which cannot adopt the life in Europe specially poor immigrants from Muslim countries.

This is why French made the law to make sure all Muslim French Children get same standard of education as local children and are not recieving substandard education like in madrassahs or home schooling. You need to have the ability to look at things that are beyond your own nose to understand them.
 

Vitamin_C

Chief Minister (5k+ posts)
Yes because their interests were with the western world and not with Pakistan *mic drop*

If your interest is not with Western world then why are you begging them to remove you from FATF. Just forget about them, khula khao nanga nahao. Enjoy your poverty if you dont care about West LOL.
 

Vitamin_C

Chief Minister (5k+ posts)
Adding more to that I think France should declare their culture a religion since they are shoving everything down your throat. People may agree or disagree but i definitely disagree with France being secular (if that means politics and religion should be separated) and i definitely dont' agree with their culture i.e. sexualizing kids on Netflix, hate speech, bigotry by their president, discrimination and the list goes on... i mean you can agree with it but i respectfully disagree with what they are doing and really appreciate Islam here *mic drop* again

You have a right to disagree but its their country and they can do there as they like. They are not forcing their values on Pakistan they are doing it in their own country.

If you dont like it then go like in Iran or Afghanistan where they do not have secularism. Momineens are munafiqeens too. They do not want to adopt Western secularism but they want to enjoy the benefits that come with it.
 

The Sane

Chief Minister (5k+ posts)
I dont think Pakistan will be removed from Grey List until Imran Khan is in power because he is afraid to do anything that will anger right wing and terrorist organizations in Pakistan. He has been the biggest defender of violent and radical Islam during the French terrorist attacks last year.
You need to pose this question to a member of the Sikh or Hindu community in Pakistan. On the flip side, to you, apparently Ameer Ul Momeeneen in exile would have been a better choice to unshackle Pakistan from this list.
 

Vitamin_C

Chief Minister (5k+ posts)
You need to pose this question to a member of the Sikh or Hindu community in Pakistan. On the flip side, to you, apparently Ameer Ul Momeeneen in exile would have been a better choice to unshackle Pakistan from this list.

I think we should leave Pakistani Hindus out of this. Every day their girls are kidnapped at gun point, raped and forcefully converted but PTI Govt is worried about human rights in France.

I posted an instagram link for a Hindu rights group in Pakistan. They have no voice in Pakistan and Pakistani media ignores the autrocities committed against them on daily basis.



 
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Oppostion Is Mafia

Minister (2k+ posts)
I dont think Pakistan will be removed from Grey List until Imran Khan is in power because he is afraid to do anything that will anger right wing and terrorist organizations in Pakistan. He has been the biggest defender of violent and radical Islam during the French terrorist attacks last year.
Your negative propaganda wont work indian patwari
 

The Sane

Chief Minister (5k+ posts)
I think we should leave Pakistani Hindus out of this. Every day their girls are kidnapped at gun point, raped and forcefully converted but PTI Govt is worried about human rights in France.

I posted an instagram link for a Hindu rights group in Pakistan. They have no voice in Pakistan and Pakistani media ignores the autrocities committed against them on daily basis.



Every day? These two words alone disrobe your intellectual malfeasance. Although I believe even one is too many, did you bother to nudge the proverbial ‘liberal’ Sindh govt on this matter, who own the law enforcement in that province, or should Niazi dispatch ISI to handle this issue?
On the flip side, you seem to go in a slumber when members on this forum such as Dr. Adam are verbally abused for being a qadiani (I do not care even if he is), yet you some how seem to fiddle in matters that you have no sway on.
Fly off bigot!
 

Raiwind-Destroyer

Chief Minister (5k+ posts)
I think we should leave Pakistani Hindus out of this. Every day their girls are kidnapped at gun point, raped and forcefully converted but PTI Govt is worried about human rights in France.

I posted an instagram link for a Hindu rights group in Pakistan. They have no voice in Pakistan and Pakistani media ignores the autrocities committed against them on daily basis.



garbage and messed up Hindus like you are defending and have a voice in FATF previous PPP and PMLN governments never stood up to Hindu terrorist regime in india that's why there were easily out of the grey list

imran khan is brave enough to take these steps and that's why its taking longer than usual to fight these propaganda from Hindu terrorism from india
 

The Sane

Chief Minister (5k+ posts)
I think we should leave Pakistani Hindus out of this. Every day their girls are kidnapped at gun point, raped and forcefully converted but PTI Govt is worried about human rights in France.

I posted an instagram link for a Hindu rights group in Pakistan. They have no voice in Pakistan and Pakistani media ignores the autrocities committed against them on daily basis.