From the name of a plain that appears in the apocryphal book of 2 Esdras (verse 9:26) in some versions of the Old Testament. This place name was used by Marie Corelli for the title of an 1889 novel, which is probably the reason it gained some currency as a given name just after this time.
People with the name Paquito have a deep inner desire to use their abilities in leadership, and to have personal independence. They would rather focus on large, important issues, and delegate the details.