New Delhi, May 5 (UNI) India has stepped up its diplomatic campaign against Pakistan for its involvement in Pahalgam terror attack and asked Asian Development Bank (ADB) and other international financial institutions to squeeze funds to Pakistan, besides asking western nations to put Islamabad in the grey list of Financial Action Task Force (FATF).

Union Finance Minister Nirmala Sitharaman met ADB chief Masato Kanda and demanded a cut in funds to Pakistan as a punitive measures against Pakistan’s belligerent involvement in terror-related matters. The purpose is to choke terror funding in Pakistan.

The Finance Minister also met her Italian counterpart Giancarlo Giorgetti.

Pakistan is facing serious financial crisis and it has sought massive financial package from International Monetary Fund, the World Bank and the ADB to stabilise its economy. The IMF has already released first tranche of loan to Pakistan and is going to take a final decision on approving $7 billion package in its next meeting.

Pakistan was in the grey list of FATF for several years and it was only in 2023, when its name was removed from it. FATF earlier accused Pakistan of failing to choke funding of terror activities on its soil and also to curb money laundering.

India is again engaged with European nations to include Pakistan in the grey list.

New Delhi argued that tough conditions need to be imposed on Pakistan for harbouring terrorism.

UNI SMA RBE