The National Executive Committee on Anti-Money Laundering and Countering the Financing of Terrorism approved the inclusion of the Pakistan Virtual Assets Regulatory Authority into the Anti-Money Laundering Act. Officials also agreed to incorporate Section 28 of the Pakistan Maritime Zones Act, 2023, into the same legislation.
Section 28 of the Maritime Zones Act will be listed in Schedule I of the Anti-Money Laundering Act. The Pakistan Virtual Assets Regulatory Authority will be placed in Schedule IV of the Act.
Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, chaired the 19th meeting of the committee at the Finance Division. During the session, the committee reviewed how previous decisions from the 18th meeting were implemented.
Aurangzeb stated that the Financial Monitoring Unit should have its analytical and operational capacity strengthened through a clear implementation roadmap with defined timelines. Pakistan currently pays 16 billion dollars in interest on its loans.
The government announced the provision of 500,000 Chromebooks for students. There are 29 registered REIT schemes in Pakistan with a total value of 173 billion rupees.
