P&G Exits Pakistan, Closing Gillette Operations
Multinational Exodus Continues: P&G Closure Sparks Major Job and Business Concerns in Pakistan
Procter & Gamble (P&G) has announced its decision to cease all operations in Pakistan, including the closure of Gillette Pakistan, as part of a major global restructuring plan. This move, reported by Dawn News, will see the multinational gradually halt all its manufacturing and commercial activities within the country. While manufacturing will stop, P&G products will still be accessible to Pakistani consumers through third-party distributors.
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The decision has immediately raised significant concerns over its impact on local jobs and the wider business community. The company has stated that affected employees will be offered opportunities within other P&G operations globally or will receive comprehensive severance packages in compliance with local labor laws. Additionally, the withdrawal raises the prospect of Gillette Pakistan being delisted from the Pakistan Stock Exchange (PSX).
P&G’s exit mirrors a broader trend of multinational corporations downsizing or leaving Pakistan, following similar actions by companies like Careem and Microsoft. Analysts warn that this trend is being fueled by inconsistent government policies and rising policy uncertainties, which continue to deter foreign direct investment. This ongoing corporate exodus is expected to put a damper on the growth and dynamism of Pakistan’s corporate sector.
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