International organization the FATF (Financial Action Task Force) has given ultimatum to Pakistan upto October 2019 time limit to destroy terrorist network in its country or the FATF may take action like financial boycott of it.
Pakistan is already under heavy financial burden and managing the country by taking nation to nation loan from the Saudi Arabia and the IMF (International Monetary Fund).
On assuming the office of the Prime Minister Mr.Imran Khan in euphoria said that he would prefer to commit suicide rather than taking further loans from any nation or the IMF. As austerity measures he moved to a small flat and auctioned 80 luxurious cars maintained by the former Prime Minister Mr.Nawaz Shariff.
But the financial situation of Pakistan is in a worst phase. China taking full advantage of it by overburdening the Pakistan with loans. There are apprehensions that days are not far off when China will become financial master of the Pakistan.
China was supporting Pakistan against India and International pressure on it.
But ultimately it become so awkward that China had no option but to withdraw its support on Masood Azhar and the world body declared Masood global terrorist. He is an Pakistani national residing there and it become imperative for Pakistan to act against him and terrorist outfit. The Pakistan declared that it had abolished many terrorist camps. The Indian Army Chief General Vipin Rawat has said that mere declaration was not suffice the Pakistan had to prove it also.
At FATF meeting in Florida in US the China has kept away from attending and ultimatum was issued to Pakistan only Turkey termed it as too harsh. India said that it expects that all the nations to take all necessary steps to effectively implement the FATF action plan fully within the time limit of five month. India also expects that within the limit the Pakistan itself would dismantle the terror network in its country.
Presently the Pakistan is in the ‘Grey List’ of FATF on terrorism. After ultimatum if Pakistan default the FATF may declare financial boycott by all other nations. In case the Pakistan is black listed it may lead to downgrading of Pakistan by global lenders such in IMF, World Bank, Asian Development Bank and European Union. The FATF is an international body established in 1989. Since 1980 the Pakistan has sought 13th bailout package.