finical action task force (FATF)

 The FATF (finical action task force) is a global watchdog created at the G7 summit held in France in 1989. the function of FTAF is to combat money laundering and terrorist financing by implementing a series of legislative measures among 200 countries that are under FATF jurisdiction. FATF compromise of 39 members representing major finical hubs around the globe. FATF is headed by a president, recently Dr. Marcus Pleyer of Germany, and a vice president Elisa de Anda Madrazo of Mexico serving from 1 July 2020 to 30 June 2021. They are selected by the Plenary among its 39 members. The FATF has jurisdiction to implement sanctions on the countries lacking commitment in bringing legislative changes to combat money laundering and terror financing. Countries with a high rate of money laundering and terror financing and poor legislative structure to prevent them are put in increased surveillance list also called grey list, While those countries which show no commitments in bringing legislative changes to minimize money laundering and terrorist financing are pushed into the blacklist which is High-Risk Jurisdictions subject to a Call for Action. Being on the grey list decreases a country's chances of getting foreign aid, loan services, and foreign investments, whereas a country on the blacklist is finically isolated from the rest of the world. Currently, only Iran and South Korea are enlisted in the FATF blacklist whereas, 12 countries are enlisted in the FATF grey list as of 21 February 2020, including Albania, the Bahamas, Barbados, Botswana, Cambodia, Ghana, Iceland, Jamaica, Mauritius, Mongolia, Myanmar, Nicaragua, Pakistan, Panama, Syria, Uganda, Yemen, and Zimbabwe.

Pakistan was also enlisted in the grey list in June 2018 and was given a task for improvement at 27 points in the legislative system by the end of the year 2019. This date was extended further to September 2020 due to the Coronavirus pandemic (COVID-19). This was not the first time for Pakistan, it was also enlisted in the grey list in 2008 and from 2012 to 2015. According to the FATF report, Pakistan was able to implement 21 out of 27 action points. FATF has appreciated Pakistan's commitment to reforms against money laundering and terror financing and the extended deadline to February 2021, urging Pakistan to work on the remaining 6 task points. The decisions on enlisting a country into grey or blacklist are done by Plenary among its members. Decisions of the FATF members are also influenced by their relationship with the country. Likewise, the decision about Pakistan was also influenced by its relation with members of FATF such as India, Israel, Malaysia, china, turkey and Saudi Arabia, etc. Pakistan usually faces great opposition from India and Israel, while Malaysia, China, and turkey usually favor Pakistan. For Pakistan execution of the remaining 6 Task points is very important in preventing it from falling into the blacklist and also for getting out from the grey list. this will also have a positive impact on countries' economic situation

China-Pakistan Economic Corridor (CPEC)

 The China-Pakistan Economic Corridor (CPEC) is a framework for regional connectivity through building various infrastructure, power, and economical projects connecting Pakistan's western border with Indian Oceans. CPEC is a 47 billion US$ agreement, signed by Pakistan and China in 2003. The main projects in these agreements are the construction of Highways, train tracks, ports, and installing fiber optics, for improving connectivity through Pakistan while providing opportunities for foreign trade and investment. Despite being such an important developmental program, CPEC face delays due to slow legislative process, lack of coordination with provinces and security issue especially terrorist attacks in tribal areas. CPEC authority works by Cooperation Committee co-chaired by the minister and vice-chairman. There are 9 working joint groups representing 9 different departments in CPEC, these departments are planning, energy, transport, SEZs, Gwadar, security, international cooperation, social and economic development, and agriculture departments. Currently, Asim Saleem Bajwa is chairman and Asad Rafi Chandna is additional secretary of CPEC authority

Major Projects

Highways

Under the authority of CPEC, extensive highways connecting Khunjerab from the western border to Gwadar near the Indian ocean are planned. The construction of highways connecting Multan to Faisalabad, Khuzdar to Sukkur, and Surab to Gwadar are under construction. Whereas in the next phase highways from Thakot to Burhan and from Multan to Sukkur will be completed on a priority basis. There are also some other highway projects which would be completed on a priority basis. These projects will improve Pakistan's road map and will also give China access to the Indian ocean and broadening trade opportunities for both countries.

Railway Tracks

China has also agreed on the construction of railway tracks under the CPEC agreement. A new line from Peshawar to Torkham, from Quetta to Kotla, and from Gwadar to Jacobabad will be constructed. While old tracks such as ML1 and ML2 will be reconstructed and upgraded in electrification, communication, and overhaul of the tracks. This will not only improve connectivity but also rejuvenate domestic and foreign trade.

Optical fiber

Another milestone in the CPEC agreement is the establishment of an optical fiber network from Khunjrab to Punjab. 56% of the optical fiber line will be Gilgit, 35% in KPK, 5.8% in Punjab, and 2.2% in the federal capital. The total length of the optical fiber line will be 820 km and will help Gilgit which usually faces connectivity and communication problems in connecting to the rest of Pakistan and eventually the world.

Other projects

CEPEC has also the initiative of bringing trade and other developmental opportunities for Pakistan by the development of different ports, energy sectors (coal and hydro), Gwadar International airport, social sectors, scientific societies, and 9 SEZs (social-economic zones). The SEZs are special areas having different economical laws with respect to other parts of countries that favor foreign and local investments due to low taxations and other economic opportunities. Under CEPEC Pakistan will construct 9 SEZs for which Pakistan has submitted its feasibility report and has started development on some SEZs. The proposed SEZs are located in Nowshera, Dhabeji, Bostan, Faisalabad, Islamabad, Port Qassim, AJK, KPK, and Gilgit Baltistan. The projects like the development of Gwadar port and airport will also help Pakistan strengthen its foreign trade.

A complete list of developmental projects can be found on http://cpec.gov.pk/.../upl.../psdp-projects/CPEC-2018-19.pdf