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Asad Umar chairs NEC meeting, reviews progress on FATF action plan

Islamabad: Finance Minister Asad Umar led a meeting of the National Executive Committee (NEC) on Tuesday to review the progress on Financial Action Task Force (FATF) action plan.

Statement released from the Finance ministry says that the National Counter Terrorism Authority (NACTA) has devised a detailed presentation on the terrorist financing risk assessment, prepared jointly by NACTA and FIA in consultation with many other departments.

After detailed inspection and assessment, the NEC approved the same subject to addressing certain issues in the respect of key policy . NEC also approved risk analysis report regarding cash smuggling and involved FBR-customs in making policies.

The NEC directed the authorities concerned to increase enforcement actions and adopt a result oriented approach.

The chairman NEC advised all the departmental to regularly monitor on-time implementation of the FATF Action Plan.

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