I think that the design of the bike is Piaggio original as you can see from the following links from Srilanka. Even this bike is also being sold in China and Phillipine(not sure about phillipine).
Here is the link. Though its really hard to find.
Here are also some pics of Srilankan model from the above link.
I also searched on piaggio website for Pakistan but couldnt find any thing. I think this product is only for Asia and Piaggio has not updated its website to include Pakistan.
What I observe in similarities with deluxe and gs-125 are these things.
1) fuel cock (gs)
2) rear mudguard (deluxe)
3) front light and indicators (gs)
4) disk brakes
So it seems that ravi piaggio is using many parts used in gs and deluxe or buying them from dealers that are making these parts for honda and suzuki, but thats not a problem as design is their original, parts resemblance is not a big issue as its locally assembled.
The big deal is where the engine parts are manufactured and about the engine performance and reliability.
piaggio storm price would not be justified, unless and until we know about manufacturing country of the engine parts and engine reliability.
As someone already said if every thing has to come from china then its highly priced.
And if this is the case, wouldn,t it be better to pay a foreign company which will atleast tell u the true picture and you are confident about what you are buying.
I would also like to know how piaggio engineers managed to get 60 km from carburetor as this bike displacement is 126cc and others bikes is 124cc (and they are getting average of 40 km/ltr) and i don't mind getting technical info.