KARACHI – Gillette Pakistan’s parent company Procter & Gamble (P&G) is exiting Pakistan amid its global restructuring, and it also raised questions about the business climate and future investment prospects in the country aiming economic revival.
Gillette Pakistan Limited informed Pakistan Stock Exchange (PSX) that P&G communicated this decision to its board citing a global strategy to reshape its portfolio, supply chain, and organizational model to drive faster growth and higher value.
In formal letter to the Pakistan Stock Exchange Limited (PSX), it said a meeting of the Board of Directors of Gillette Pakistan Ltd will be convened shortly. The purpose of this meeting is to evaluate the actions required for this business discontinuation, which includes, where relevant, the potential de-listing of Gillette Pakistan Limited from the Pakistan Stock Exchange, in compliance with all applicable legal and regulatory requirements.
The information was formally shared by Company Secretary under the requirements of Section 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book of the Pakistan Stock Exchange Limited.
Founded in 1837, P&G is renowned for brands such as Pampers, Tide, Gillette, and Head & Shoulders. The company confirmed it will wind down its local manufacturing and commercial operations, switching to a third-party distributor model to continue serving Pakistani consumers.
It said operations will continue in ordinary course until the transition is complete, which could take several months. it also mentioned that affected employees will be considered for roles abroad or offered separation packages in line with local laws and company policies.
P&G’s decision adds to a growing trend of multinational exits from Pakistan. In August, online cab company Careem suspended its ride-hailing services citing economic challenges and stiff competition.
Previously, Microsoft also announced a full shutdown of operations in the country while more than fifty startups in Pakistan either closed down or dramatically pivoted.
