ISLAMABAD: Finance Minister Asad Umar chaired a meeting of the National Executive Committee (NEC) on Tuesday to review the progress on FATF Action Plan. National Counter Terrorism Authority (NACTA) made a detailed presentation on the Terrorist Financing Risk Assessment, prepared jointly by NACTA and FIA in consultation with a number of relevant authorities. After detailed deliberations on various aspects of the assessment report, the NEC approved the same subject to addressing certain observations in respect of key policy and legislative areas. NACTA will finalize the report accordingly. The NEC also approved the Risk Assessment Report on cash smuggling prepared by FBR-Customs. Financial Monitoring Unit (FMU) presented the analysis on suspicious transaction reports filed by the financial sector in the last three years and the law enforcement actions taken against money laundering and terrorism financing on the basis of such reports. The NEC advised the authorities concerned to enhance enforcement actions and adopt a result oriented approach.The Chairman NEC advised all the departmental heads to regularly monitor timely implementation of the FATF Action Plan. The need for a coordinated effort with the provinces was also highlighted. The meeting was attended by Minister for Foreign Affairs, Minister for Law & Justice, Minister of State for Interior, Governor-SBP, Chairman-SECP, Director General-FIA, Director General-NACTA, Director General-FBR Customs, Director General-FMU & other senior officials of the Federal and Provincial Governments.