Pakistan has been placed on the right direction and the nation could obtain a position among the top 20 economies of the world if it successfully documents its informal economy, as said by the Italian Ambassador to Pakistan—Stefano Pontecorvo.
While speaking at the Faisalabad Chamber of Commerce and Industry—FCCI on Friday, he said that the size of the economy of Pakistan was nearly $300 million however 80percent of it was undocumented.
He indicated that the GDP of Pakistan might go down owing to the steps taken for the documentation of the economy, but, in the long term, it would assist the nation in prospering.
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While lauding the monetary measures, the ambassador expressed positivity that Pakistan would soon become a centre of economic activity.
While briefing about the machinery manufacturing, he said that Italy had been manufacturing world-class goods, which were far expensive than the ones made in China.
The envoy informed that negotiations were underway between the Italian companies and their Pakistani counterparts for launching joint ventures in the various fields.
FCCI President—Rana Sikandar Azam while speaking on the occasion thanked the ambassador for his services for boosting the relations between the two nations.
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