Procter & Gamble Announces Exit from Pakistan Amid Global Restructuring

Procter & Gamble Company, the American multinational consumer goods giant, has officially announced the discontinuation of its operations in Pakistan as part of a wider global restructuring initiative.

The company has formally notified the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX) regarding its decision.

“The Gillette Company LLC has conveyed to Gillette Pakistan Limited, including its Board of Directors, the decision of the Procter & Gamble Company to discontinue its business in Pakistan as part of its global restructuring program, including portfolio, supply chain and organization choices to accelerate growth and value creation,” stated the official communication.

In response, a meeting of the Board of Directors of Gillette Pakistan Limited is set to be held soon to determine the necessary steps related to this business exit. This may include the potential de-listing of Gillette Pakistan Limited from the Pakistan Stock Exchange, while ensuring full compliance with all applicable legal and regulatory frameworks.

This move highlights P&G’s strategic shift aimed at optimizing its portfolio and enhancing global growth and value, marking a significant exit from the Pakistani market.