FAISALABAD: Pakistan has been put heading in the right direction and the nation can earn a place amongst top-20 economies of the world if it efficiently paperwork its casual economic system, mentioned Ambassador of Italy to Pakistan Stefano Pontecorvo.
Talking on the Faisalabad Chamber of Commerce and Trade (FCCI) on Friday, he mentioned that the scale of Pakistan’s economic system was round $300 billion however 80% of it was undocumented.
He identified that the nation’s GDP could go down as a result of measures taken for documentation of the economic system, nevertheless, in the long run it might assist the nation prosper.
Applauding the financial steps, the envoy expressed optimism that Pakistan would quickly develop into a hub of financial exercise.
Speaking in regards to the manufacturing of equipment, he mentioned that Italy had been producing world-class merchandise, which had been costlier than those made in China.
The ambassador shared that some Italian companies had been negotiating with their Pakistani counterparts to launch joint ventures in numerous fields.
Referring to the huge potential within the livestock sector, Pontecorvo referred to as for initiating joint ventures within the discipline because it had a excessive margin of revenue.
Responding to numerous questions and queries, the ambassador assured businessmen of his cooperation in resolving the problems.
Talking on the event, FCCI President Rana Sikandar Azam thanked the ambassador for his providers for enhancing relations between the 2 countries.