Exports from Pakistan has seen downfall in the recent years, especially in textile products. While export of textile was disappointing, import of textile machinery came as a sigh of relief for the industry. In the months from July to March the imports of textile machinery and electricity generating machinery hopped. As per the statistics textile machinery imports advanced to $401.1 million from 21pc each year and electricity generating machinery increased by 76pc at the same time. The Italian ambassador in Pakistan Stefano Pontecorvo feels that ample electricity to run the imported textile machinery would build up the future export textile industry of Pakistan. He further said that more than 70 Italian textile companies took part in the international exhibition of textile machinery held in Karachi. The Italian entrepreneurs and businesses value the talent and potential found in Pakistan.
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Currently import in Pakistan from Italy is around $444 million which is expected to rise in upcoming years. Mr Pontecorvo acknowledged the strong industry and sound expertise found in Pakistan which would gradually enhance economic expansion in the country. He also pointed out that as export of Pakistani items is limited, so the products are consumed domestically which has created a strong local market in Pakistan.
Italy is investing in textile, plastics and surgical industry of Pakistan. It is a sign of hope that Italy and Pakistan might become close trading nations in near future.
Image via: Times of Islamabad