Islamabad: Pakistan's recent sentencing of wanted terrorist chief Hafiz Saeed last Friday was one necessity and was grounded in economic realism, said a Taipei-based analyst.

Muhammad Hafiz Saeed, who was already in jail since July 17, 2019, for other charges, was sentenced this month by a special anti-terrorism court in Lahore, Pakistan, to a jail term of 33 years for "financing terrorism."

Though Pakistan would like the world to believe that it is taking action against the likes of Hafiz Saeed and the LeT, the organization itself continues to organise events to raise funds and recruit fighters.

Writing for the Diplomat Magzine, Liam Gibson said that Pakistan is riding the shockwaves of a chaotic political transition and teetering dangerously close to a credit default after the recent ousting of former Prime Minister Imran Khan.

"Pakistan is on the Financial Action Task Force's (FATF) grey list for terrorism financing, which throws an awkward spanner in the works, potentially threatening its access to the global credit it needs most," he said.

Experts say that the listing has reportedly already cost the country USD 38 billion and its financial reserve coffers are now almost empty. "Fortunately for Islamabad, there is a chance to get off the list when the FATF reviews Pakistan's status again in June."

Gibson raised questions as to what the Pakistan Anti-Terrorism Court is trying to achieve through the rulings. "Pakistan's courts may simply be trying to make up for lost time."

Despite being designated a terrorist by the UN and EU in the 2000s, Saeed was neither charged nor extradited over nearly two decades, the Taipei-based analyst pointed out.

Gibson added that Hafiz Saeed was merely detained on a few occasions for several months at a time, sometimes confined to his home.

The analyst also underscored the importance of upholding the integrity of global standards on anti-terror financing remains vitally important in steering Pakistan further down the path of reform.

He further argued that sustained pressure from the FATF will send a clear signal to its new administration that the international community will not compromise on the issue going forward.