Positive development for Pakistan on the exports front
ISLAMABAD - Pakistan’s Ambassador to Italy, Jauhar Saleem has said that Pakistan’s exports to Italy have increased by 34 percent during the first quarter of financial year 2021-22.
Pakistani workers’ remittances from Italy increased 66.5 percent while Pakistan’s exports to Italy increased by 34 percent during the first quarter of financial year 2021-22 (July-September), said a press release issued by the trade and investment section of the Pakistan embassy in Rome.
Talking to media persons, Pakistan’s envoy to Italy, Ambassador Jauhar Saleem said that Italy has emerged as Pakistan’s largest source of workers’ remittances from the European Union and the second largest in Europe after the United Kingdom. Ambassador said Pakistani workers’ remittances from Italy which have shown a record growth over the last many quarters remains on a steep upward trajectory. The 66.5 percent growth witnessed in the first quarter of FY 2021-22 is many times higher than the overall national growth of 12.5 percent in workers remittances seen during the same period last fiscal year, he said.
He said that despite the lingering Covid pandemic and the challenging market conditions, the latest quarterly economic indicators have been rather impressive. “What brings even more promise to the future of bilateral commercial relations is the fact that many new investment initiatives, especially related to energy and transport sectors, are also in the pipeline”, he said.
He applauded the 200,000 strong Pakistani diaspora in Italy which has been contributing positively not only to the Italian economy, but also has been a source of pride and support for the mother country.
He informed that legalization of thousands of undocumented Pakistani workers through Italian amnesty scheme, inclusion of Pakistan in Italian Seasonal Work Visa Program, State Bank of Pakistan’s consumer friendly financial products and programs, and Embassy’s awareness campaign to promote formal channels of remittances have been the main factors driving the unprecedented remittances growth from Italy.