Pakistan Post enforcing FATF guidelines effectively, says DG Khalid Javed

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enewspaper.com.pk/Pakistan Post enforcing FATF guidelines effectively

MULTAN, (APP): Director General Pakistan Post Khalid Javed said on Tuesday that Pakistan Post was enforcing the guidelines of the Financial Action Task Force (FATF) effectively to contribute to efforts to steer Pakistan out of the grey list.

Talking to newsmen during a visit to the office of Federal Ombudsman in Multan, he said that problems related to insurance services of Pakistan Post and other financial matters were being resolved on priority.

Khalid Javed said, he reached Multan on the orders of Federal Minister Murad Saeed to address some issues highlighted by Advisor to Federal Ombudsman Mehmood Javed Bhatti.

The DG said that the problems of the people related to services will be resolved at the earliest.

He said, Pakistan Post used to make payments through GPO but now it was being done through cheque. There were some problems in it which were being resolved.

He said the system FATF want must monitor transactions to avoid chances of wrong use. He added that transactions through Pakistan Post are monitored like the State Bank of Pakistan (SBP) regulates the banks. He added that the transaction would be frozen in case these are found to be dubious.

There were some FATF observations but Pakistan Post has completed its work on them. However, he added, Pakistan Post was working on some of the remaining issues. He recalled that Pakistan had fulfilled 26 out of total of 27 conditions last year and Pakistan Post was also part of the effort.

The DG said that Pakistan Post was also part of the financial sector and its relevant recommendations were being enforced. He hoped Pakistan would soon be out of the FATF grey list.

GM Pakistan Post South, Lahore, and advisor to federal ombudsman Mehmood Javed Bhatti were present.

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