KARACHI – Ambassador of Italy in Pakistan Vincenzo Prati has said that Italy will continue to extend its economic presence in Pakistan.

He was speaking at farewell dinner hosted in his honour by Landi Renzo Pakistan.

The Ambassador, who will soon be leaving Pakistan at the end of his four years’ tenure, spoke about the current issues especially the CNG industry is facing in Pakistan. Talking about possible ways out for the industry, the Ambassador hoped that a positive solution may be found and Landi Renzo would be able to continue operating in Pakistani market.

Earlier, Alberto Barbieri, Chief Executive Landi Renzo Pakistan, said his company had invested billions of rupees in Pakistan. He recalled the ban to import CNG kits and cylinders imposed by the Economic Coordination Committee on December 15, and the impact it is having on the CNG industry.

He also talked about the proposals Landi Renzo and its partners supported by the Embassy of Italy forwarded to the Pakistani authorities. The proposals include suggestions on the quota of CNG kits that are to be locally manufactured and sold in local market.

While supporting the proposals of Alberto Barbieri CEO of Landi Renzo, the ambassador said that the Italian authorities are closely following any outcome of the negotiations between Landi Renzo and the Pakistani authorities.