The Financial Action Task Force (FATF) has warned Pakistan to improve its counter-terror financing operations in line with an internationally agreed action plan by October or face action, sources said.

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The FATF also expressed its concerns over Pakistan's failure to complete the action plan first by a January deadline, and again by May.

"The FATF strongly urges Pakistan to swiftly complete its action plan by October 2019 when the last set of action plan items are set to expire," the FATF said in a statement on Friday.

"Otherwise, the FATF will decide the next step at that time for insufficient progress," the statement added.

Pakistan has been already put by the FATF on the "grey list" of countries with insufficient controls to tackle money laundering and terror financing.

First Published:Jun 22, 2019 9:47 AM IST