The final plenary meeting of the Financial Action Task Force (FATF) entailing a formal decision on placing Pakistan’s on the grey-list is underway eliciting a scrambling on the part of the state leadership to evade global ostracisation.

Where analysts argue that gray-listing will exacerbate Pakistan’s economy -entailing divestment in foreign financing, difficulty in borrowing from the International organizations and a demotion in Pakistan’s debt ratings, making it more difficult to tap into international markets- Pakistan’s previous 2012 stint on the gray-list exhibited little impact on the economy supporting Miftah Ismails claim that the financial impact of the gray-listing will be minimal. From a geo-political perspective what it does impact is Pakistan’s standing in the international community, giving legitimacy to Trumps coercive and inflexible hard-line with Pakistan.

On its part Pakistan has formulated a very ambitious 26-point action plan with hard mandates, to avoid being blacklisted by the group. The action plan envisages bringing into line various components of the financial regime and entails police-to-police, customs-to-customs, federal- provincial and departmental cooperation. If the FATF endorses the 26-point Action Plan, it will formally place Pakistan on the gray-list, which oddly will be considered a triumph, averting the grimmer sentence of being placed on the Blacklist. The ambitious action plan if approved will certainly require a clinical restructuring of the financial and administrative establishment, a formidable challenge that falls to the incoming government.

Yet where the country can suffer the chagrin of gray-listing, it cannot survive the economic derailment ensuing complete international financial and diplomatic ostracisation if black-listed. With traditional allies like Saudi Arabia, China, and Turkey reluctant to vouch for us in the face of mounting pressure, dealing with the issue head-on remains the only solution. Whatever the verdict, Gray or Black, the blame lies squarely with the establishments inherent nonchalance in categorically and resoundingly withdrawing all support of the proscribed organizations and their offshoots in question-in all their covert forms.