Pun calls on Prez to approve ordinances to avoid FATF blacklisting

Finance Minister Barsha Man Pun called on President Ram Baran Yadav at his office in Shital Niwas to urge the Head of the State to give his approval to two ordinances that are necessary to avoid the country's blacklisting by the international Financial Action Task Force.

The two ordinances on fighting organised crime and money laundering need to be passed before February 18, the day the next FATF Plenary and Working Group Meeting is set to begin in Paris.

"The country's reputation and standing in the international arena is at risk," Pun told mediapersons after the meeting.

If Nepal is black-listed by the FATF, its economic and trade relations with other countries will be adversely affected. Foreign banks and other business institutions will not be willing to carry out any sort of financial transaction with the country.

Shital Niwas has shelved almost ordinances presented by the Bhattarai government after the dissolution of the Constituent Assembly. It has said it will pass ordinances, which are backed by all political forces. Nepalnews.com