The outcome of the talks, which would continue till September 13, would decide whether Pakistan's name stays on the grey list or would it be added to the black list, the report said, quoting a source from the finance ministry.
The FATF last year placed Pakistan on the grey list of countries whose domestic laws are considered weak to tackle the challenges of money laundering and terrorism financing.
The Paris-based global body is working to curb terrorism financing and money laundering and has asked Pakistan to reassess the operation of banned terrorist outfits in the country.
Talks will also be held on the matter of including Pakistan's name in the enhanced expedited list by the Asia-Pacific Group (APG).
The name being included in the list means that Pakistan would be required to submit follow-up reports to the APG on a quarterly basis, the report said.
"Replies to 125 questions of the APG had also been summoned in order to take Pakistan out of the list. It is being said that cross-questioning would also be held during the talks between the two sides. The sources said Pakistan's stance in the talks would be presented through the APG," the report said quoting sources.
Pakistan would also provide answers to 10 important questions related to curbing money laundering and terrorism financing.
Details of punishment handed over to those involved in terrorism financing had also been sought, the report said.