New Delhi: Global terror financing watchdog FATF on Friday decided to retain Pakistan in its ‘Grey List’ and warned the country of stern action if it fails to prosecute and penalise those involved in militancy funding emanating from its jurisdiction.

The decision was taken at the Financial Action Task Force (FATF) plenary, which concluded in Paris on Friday after six days of deliberations.

The FATF decided to continue Pakistan in the ‘Grey List’. The FATF has also warned Pakistan that if it does not complete a full action plan by June, it could lead to consequences on its businesses, a source said.

According to a statement issued by the FATF, all deadlines given to Pakistan to check terror funding have come to an end but the country has failed to complete its action plan in line with agreed timeline.

To date, Pakistan has largely addressed 14 of 27 action items given to it in controlling funding to militant groups like the Lashkar-e-Taiba (LeT), the Jaish-e-Mohammad (JeM) and the Hizbul Mujahideen, which are responsible for a series of attacks in India.

“The FATF strongly urges Pakistan to swiftly complete its full action plan by June 2020. Otherwise, should significant and sustainable progress especially in prosecuting and penalising terror funding not be made by the next Plenary, the FATF will take action, which could include the FATF calling on its members and urging all jurisdiction to advise their financial institutions to give special attention to business relations and transactions with Pakistan,” the statement said.

With Pakistan’s continuation in the ‘Grey List’, it will be difficult for the country to get financial aid from the IMF, the World Bank, the ADB and the European Union, thus further enhancing problems for the nation which is in a precarious financial situation.

If Pakistan fails to comply with the FATF directive, there is every possibility that the global body may put the country in the ‘Black List’ along with North Korea and Iran, sources said.

With regard to Pakistan, the FATF said, all deadlines in the action plan have expired and “again expresses concerns given Pakistan’s failure to complete its action plan in line with the agreed timelines and in light of the terror funding risks emanating from the jurisdiction”.

The FATF said Pakistan should continue to work on implementing its action plan to address its strategic deficiencies, including by: demonstrating that remedial actions and sanctions are applied in cases of Anti-Money Laundering (AML) and combating the financing of terrorism violations, relating to Terrorist Funding (TF) risk management and Targeted Financial Sanctions (TFS) obligations.

Pakistan should demonstrate that law enforcement agencies (LEAs) are identifying and investigating the widest range of TF activity and that TF investigations and prosecutions target designated persons and entities, and those acting on behalf or at the direction of the designated persons or entities and demonstrate effective implementation of targeted financial sanctions against all UN-designated terrorists and those acting for or on their behalf, including preventing the raising and moving of funds, identifying and freezing assets and prohibiting access to funds and financial services, the FATF said.

India has been maintaining that Pakistan extends regular support to militant groups like the LeT, the JeM and the Hizbul Mujahideen, whose prime target is India, and has urged the FATF to take action against Islamabad.

Pakistan is believed to have received strong backing from Malaysia but failed to impress western nations due to India’s consistent efforts by providing materials and evidence on Pakistan’s inaction to check funding to terror groups operating from its soil, sources said.

Pakistan needed 12 votes out of 39 to exit the ‘Grey List’ and move to the ‘White List’. To avoid the “Black List”, it needs the support of three countries.

The FATF meeting, from February 16 to 21, was held a week after an anti-terrorism court in Pakistan sentenced Hafiz Saeed, the mastermind of the 2008 Mumbai attack and founder of the LeT, to 11 years in two militant financing cases.

The Pakistani court’s judgment came ostensibly to please the FATF and western countries so that the country can exit the ‘Grey List’, sources said.

Saeed, a UN designated terrorist on whom the US has placed a USD 10 million bounty, was arrested on July 17, 2019, in the terror financing cases.

In last month’s FATF meeting in Beijing, Pakistan got support of Malaysia and Turkey besides FATF current chair China.

In the Beijing meeting, Pakistan provided a list of its action taken to comply with FATF directions.

Pakistan was placed on the ‘Grey List’ by the FATF in June 2018 and was given a plan of action to complete by October 2019 or face the risk of being placed on the ‘Black List’.

The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.

It currently has 39 members, including two regional organisations — the European Commission and the Gulf Cooperation Council.

India is a member of the FATF consultations and its Asia Pacific Group.

MUMBAI: Riding on the success and enthusiastic response seen during previous two road shows in Bengaluru and Kolkata, delegation of Jammu and Kashmir Government, under the leadership of Lieutenant Governor Girish Chandra Murmu, organised another road show at Mumbai today. Presenting immense opportunities in focus areas of Entertainment, Manufacturing, Food Processing, Film and Tourism sectors, the road show inspired investments in the newly formed UT.

The Jammu and Kashmir Government has organised this road show with a view to invite investors for setting  up Film studios, Film Cities, Film Institutions, Multiplexes with film exposed workforce as per new draft Film and Tourism Policy.

The inaugural session was presided by Advisor to Lieutenant Governor Shri Kewal Kumar Sharma, in which senior government officers, Shri Arun Kumar Mehta, Finance Secretary; Shri Rohit Kansal, Principal Secretary Planning Development & Monitoring; Shri Manoj Kumar Dwivedi, Commissioner Secretary, Industries & Commerce; Shri Zubair Ahmad, Secretary Culture and Tourism; Ravinder Kumar, MD JK Trade Promotion Organisation, Doifode Sagar Dattatray, Deputy Commissioner Doda, Smt Anoo Malhotra, Director Industries and Commerce Jammu, Bashir Ahmad Deputy Commissioner Anantnag, also participated.

Lieutenant Governor Girish Chandra Murmu, chaired the B2G meeting sessions along with  Shri Kewal Kumar Sharma, Advisor to Lieutenant Governor, Sh. BVR Subrahmanyam, Chief Secretary Jammu and Kashmir and held extensive deliberations with corporate heads, industrialists, film industry leaders and briefed them about the potentials, investment opportunities and investible projects ready for investment in J&K. A series of round-table discussions led by Administrative Secretaries and HODs were also organised on strategic sectors to seek investment for maximizing industrial growth and enhancing employment opportunities.

A video filming the investment potential of J&K was played followed by a detailed presentation by Shri Manoj Kumar Dwivedi, Commissioner Secretary, Industries & Commerce who highlighted 14 Focus sectors and initiatives taken by Government to improve industrial ecosystem in Jammu and Kashmir. It was followed by a video on pristine locations and tourism potential of Jammu and Kashmir which received wide appreciation from participants. Sh. Rohit Kansal, Principal Secretary Planning Development/Monitoring and Information made a presentation on Film Tourism.

Shri Kewal Kumar Sharma, Advisor to Lieutenant Governor, Jammu & Kashmir applauded the investors for exuberance towards J&K government and asserted that J&K is ready for investment in view of attractive 14 sector specific policies.

Shri Arun Kumar Mehta, Financial Commissioner, Finance, informed about status of economy of J&K, highlighting the growth in GST which at present is 40%. He emphasized upon huge scope and space for private sector investment in J&K.

Ms Kashmira Mewawala, Chairman, CII Maharashtra State Council, while addressing the participants focussed on the strengths of J&K and briefed the audience that J&K has shown immense interest in providing an enabling environment and tap available opportunities, in the road show.

Mr Vinod Haritwal, CEO Director Grauer and Weil (l) Ltd, shared his experiences of working in J&K on the occasion. He strongly allayed apprehensions of security related disturbances on the growth and profits in industrial sector in Jammu and Kashmir.

Shri S K Bansal prominent industrialist in J&K also shared the dias.

Prominent industries groups & Leaders including representatives from Taj, Carnival Films, Volkswagen India, Hinduja, Ambuja Cements, Mahindra Holidays, Kotak Mahindra Bank, Bayer, Lark and others were present on the occasion.

The event was attended by more than 150 delegates. More than 30 B2G meetings were held across various sectors in which  24 MoUs valuing about Rs. 2450 crores were signed during  the road show.

The upcoming road shows will further cover other industrial and economic hubs like Hyderabad, Chennai, Ahmedabad in March 2020 which have been planned with an intent to draw together business hubs, investors, decision-makers, senior government officials and the local business community in a stimulating dialogue that spurs the investment and economic development of Jammu and Kashmir

The road shows are being organised by Jammu and Kashmir Trade Promotion Organization (JKTPO), a nodal agency working under department of Industries and Commerce, Government of J&K, along with Confederation of Indian Industry (CII) as the National Partner, PricewaterhouseCoopers (PwC) as media partner and Ernst & Young as the Knowledge Partner.

Mumbai: The newly formed union territory of Jammu and Kashmir on Friday inked Memorandums of Understanding (MoUs) worth over Rs 2,100 crore during its investment summit roadshow in the city here. “We want to maximise industrial growth and employment opportunities in Jammu and Kashmir. For this we are engaging in six city roadshows. Of this, we have already successfully concluded in Bengaluru, Kolkata and Mumbai,” Jammu and Kashmir Principal Secretary Planning, Development and Monitoring Rohit Kansal told reporters here at an investor roadshow organised by CII.

“The roadshows will further cover cities like Hyderabad, Chennai, Ahmedabad in February and March,” he said.

Led by Lieutenant Governor Girish Chandra Murmu, the officials pitched about the business possibilities in Kashmir valley to India Inc.

Kansal said the union territory has signed around Rs 2,000 crore worth of non-binding MoUs in Kolkata, Rs 850 crore in Bengaluru and over Rs 2,100 crore in Mumbai.

J&K has identified 14 sectors, including horticulture, food processing, manufacturing, infrastructure, media and entertainment, film and tourism, to attract investments, he added.

Kewal Kumar Sharma, Advisor to Lieutenant Governor of Jammu and Kashmir said, “We are in the final stages of designing an ambitious Industrial Promotion Policy 2020 in J&K, which will have elements like SGST reimbursement in full, attractive land policy, exemption from stamp duty, support for green industrialisation along with other benefits.”

When asked about the ground situation in the union territory, he said it is much better than what it was a few months back.

“We’re talking about investments in the long term. You’re not talking about today, given today’s situation (is) much better than what it was, let’s say, a few months back. So things are improving, I don’t see this becoming a problem for any investment,” he added.

The Centre had in August revoked Article 370 to take away J&K’s special status.

Sharma said J&K provides opportunities for Bollywood with religious and heritage sites, dense forests and waterfalls, among others.

“Jammu and Kashmir provides huge opportunities to set up film studios, film cities, film institutions, multiplexes with film exposed workforce as per new film tourism policy,” he added.

J&K Commissioner Secretary Manoj Kumar Dwivedi said the union territory has a lot of inherent potential with appropriate.

New Delhi/Kabul: A week-long “reduction in violence” pact between the Taliban, the United States and Afghan security forces will come into effect from midnight on Friday night, paving the way for the peace deal which is to be signed on February 29.

Officials in Afghanistan confirmed this on Friday. The negotiations between the US and the Taliban that were resumed after four months in January, had been stuck over the disagreement on the definition of “reduction in violence”.

However, on Friday, both US Secretary of State Mike Pompeo and Taliban spokesperson Zabihullah Mujahid confirmed that they have reached an agreement on the deal and its implementation.

Pompeo said that following the successful implementation of the limited ceasefire, the US would move to sign a peace deal with the Taliban on February 29. Mujahid said that both the US and Taliban will invite senior representatives to participate in the ‘signing ceremony’ of the peace deal. Incidentally, President Donald Trump is visiting India later this week on a two-day trip.

The deal, which the Trump administration has been negotiating for long, includes talks between the Taliban and the Afghan government under President Ashraf Ghani which are to begin on March 10. Mujahid confirmed that they will hold intra-Afghan talks with various political groups.

The Afghan government had stayed away from the US-Taliban negotiations due to strong reservations about the militant group’s religious extremism and violence.

As per the peace treaty, the US has agreed to release 5,000 Taliban prisoners between February 29 and March 10. The Trump administration has also committed itself to withdraw all its forces from the war-torn country over a period of 18 months.

The US and NATO forces launched a ‘war on terror’ in Afghanistan 18 years ago after the global Islamist terror group al-Qaeda – sheltered and supported by the Taliban – attacked the US on September 11, 2001.

The US has around 11,000 troops in Afghanistan and has been gradually withdrawing its forces.

Trump, who is running for re-election later this year, had promised during his first election campaign that he would end America’s wars and bring all American troops back home.