The completion of FATF action plans is the outcome of "coordinated national efforts," according to FM Bilawal.

 The completion of FATF action plans is the outcome of "coordinated national efforts," according to FM Bilawal.

According to a statement published on his behalf by the Ministry of Foreign Affairs on Sunday, Pakistan's full completion of the Financial Action Task Force's action plans was the "product of coordinated national efforts.

According to the Foreign Office, FM Bilawal said: "I applaud the FATF's unanimous recognition of Pakistan's fulfilment of its 2018 and 2021 Action Plans. I like to congratulate Pakistan's FATF team on their hard work and dedication, which has resulted in the effective fulfilment of all technical aspects among both FATF Action Plans."

This was "the outcome of comprehensive and coordinated efforts and total harmony of interests by all parties," according to the foreign minister.

In a series of tweets, former Prime Minister and PTI Chairman Imran Khan credited his government for the outcome, praising the efforts of Hammad Azhar, who pointed out in his own press conference that Pakistan had submitted the final document for review in April, while the PTI was in office.

Prime Minister Shehbaz Sharif, for his part, "liked the performance of Minister of State for Foreign Affairs Hina Rabbani Khar and members of the Foreign Ministry team" who represented Pakistan during the meeting.

The rupee is expected to continue its downward trend next week

Traders predict that the Pakistani rupee will continue to fall as the IMF programme is delayed.

Last week, the local currency fell to an all-time low of 208.75 per dollar in the interbank market.

According to a trader, once the IMF deal is finalised, the rupee could settle at 195-200 per dollar.

Traders predict that the Pakistani rupee would continue to fall next week if the government fails to achieve an agreement with the International Monetary Fund (IMF) on the reactivation of a $6 billion credit package.

Import payments on the way and dwindling foreign exchange reserves would put pressure on the rupee, causing it to lose territory versus the dollar in the coming week. Any progress in IMF talks is the only way to keep the rupee from falling further.

Officials from the IMF are meeting with Pakistani officials, and a breakthrough is expected next week.