Pakistan which is known the world over for harboring terrorist outfits and also funding for their activities continued to remain in the grey list of the global terror financing watchdog Financial Action Task Force (FATF).

The organization has refused to lift its restriction for supporting terror acts. It has been suggested that Pakistan address the deficiencies in its financial system as early as possible in order to come out of the grey list.

Media reports said that the country has been on the grey list of the Paris-based Financial Action Task Force (FATF) since June 2018.

The reason for this is the failure of the Pakistan government to prevent money laundering activities which are believed to helping terror outfits to easily access to the money.

The watch had asked the Pakistan government to follow the norms and complete them by October 2019.

Since the country has failed to follow the plan given, it has continued to be on the grey list.

Meanwhile, the watchdog resolved to keep Pakistan in the 'grey list' despite the country claiming it has met 32 of the 34 action points, Pakistan's Dawn newspaper reported.

It is reported that FATF has been making efforts to ensure that Pakistan takes the necessary steps to address the concerns.

It wants Pakistan to demonstrate that terror financing investigations and prosecutions target the most wanted terrorists and chiefs of UN-designated terrorist groups.

In response to it, Pakistan has reportedly given the commitment to address these strategic deficiencies pursuant to a new action plan that primarily focuses on combating money laundering.

"Pakistan should continue to work to address the one remaining item in its 2021 action plan by demonstrating a positive and sustained trend of pursuing complex (money laundering) investigations and prosecutions", FATF said.