Rebuttals/Rejoinders
Official Spokesperson Dr. Khaqan Hassan Najeeb, Ph. 9223619. D.G. (Media) Mr. Saeed Javed Ph. 9211707, Cell: 0321-5288564. Public Relations Officer Miss Mehrin Liaqat Ph. 9211707, Cell: 0336-4186647.
17 Januaey, 2019

Rebuttal - Position on transfers made to Sindh

Ministry of Finance strongly refutes news reports/statement which claim that the Federal Government has made less transfers to Sindh during the current financial year. 
It is clarified that during the first half of FY 2017-18, FBR reported a collection of Rs.1845.3 billion (inclusive of arrears of previous year). During the same period of current financial year, FBR reported collection of Taxes as Rs.2,011.4 billion (inclusive of arrears of previous year). 

The share transferred to Sindh province during the same period of last financial year was Rs.251.5 billion and during the current financial year it is Rs.275.2 billion showing a growth of 9.4%. 

It is evident that the transfers in both absolute and percentage terms have increased. It is further clarified that the Federal Government immediately transfers the share of all the Provinces as per the NFC formula, based on the revenue collection reported by the FBR.
 
07 Januaey, 2019

Response - Claim on Pakistan's international reserves dismissed as misleading

The Ministry of Finance dismisses as misleading, the claim appearing in a section of the press on 6th January 2019 that Pakistan’s international reserves are at the lowest point ever in recent history.

Any argument regarding international reserves position cannot be grounded merely on ‘net international reserves’ position. Instruments such as forward swaps and balance of payment support are used by central banks and governments all over the world to strengthen their international reserves position.

The truth is that at present SBP reserves are standing at USD 7.1 billion (as on 3rd January 2019), whereas SBP reserves were as low as USD 2.8 billion on 7th February 2014. The Government of Pakistan has arranged enhanced flows for balance of payments support on bilateral and multilateral basis, which will further strengthen the country’s international reserves position.
 
20 October, 2018

Response - to News Report about APG's visit to Pakistan

The news report published today in a section of press on Pakistan’s FATF and APG issues is not based on facts. 

It may be noted that Pakistan is passing through two separate processes, one is FATF Action Plan and another is regular assessment of AML/CFT regime.

The FATF Action Plan has been agreed with FATF and is being implemented with timelines from Jan-2019 till September 2019. Its progress is being monitored by FATF on quarterly basis. The focus of this action plan is on the implementation of TF regime in Pakistan.

The regular APG assessment is part of Pakistan’s APG membership requirements and every country in the globe is required to undergo assessment of anti-money laundering and combating the financing of terrorism (AML/CFT) framework. 

Pakistan’s assessment is being conducted by APG and assessment team from China, Turkey, UK, USA, Indonesia and Maldives. The purpose of the assessment is to gauge the level of compliance on key AML/CFT areas including adequacy and effectiveness of laws, policies and coordination, implementation of preventive measures, powers and capacity of FMU, supervisory and law enforcement agencies, use of financial intelligence and international cooperation. During the onsite visit (8-19 October 2018) to Pakistan, the APG assessment team held meetings with all Pakistan’s AML/CFT stakeholders. This process will culminate in July 2019 in APG’s annual meeting and in between draft reports would be exchanged with APG including one face to face meeting in April 2019. Both processes i.e. FATF Action Plan and APG’s mutual evaluation are distinct and may not be mixed while reporting in press.

It is pertinent to mention that all countries undergo regular mutual evaluation process using a global assessment methodology and procedures. As of date the AML/CFT assessments of 60 countries have been completed across the globe out of which 16 countries are the members of APG. It is the third mutual evaluation of Pakistan the first two were held in 2004 and 2009 respectively.

It is also clarified that APG assessment team headed by APG’s Executive Secretary Mr. Gordon Hook held a courtesy meeting with Finance Minister and discussed Pakistan’s overall AML/CFT regime. The Finance Minister during the meeting with APG team assured Pakistan’s strong commitment for a robust AML/CFT regime as per international standards and highlighted Pakistan’s measures on this front. The APG team also did not share any assessment in written or verbal forms whether Pakistan will continue to remain on FATF Gray list or not. 

No other issues were discussed with the Finance Minister by APG delegation except the above for which a press release was also issued by the Ministry of Finance on 17th October 2018.
 
 
 
 

 

 

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