In a major setback for Pakistan, the Financial Action Task Force (FATF) has decided in principle to keep Pakistan on its grey list till February 2020. The FATF is set to make a formal announcement about these developments on October 18.

The FATF, which is the global watchdog for terror financing and money laundering, has also directed Pakistan to take ‘extra measures’ aimed at ‘complete’ elimination of terror financing and money laundering, reported leading Pakistani news website Dawn.

The FATF member nations met in Paris on Tuesday to review the steps taken by Islamabad to control money laundering and terror financing and during the crucial meeting it was decided that Pakistan should take more further steps in the next four months to avoid getting blacklisted.