There have a lot of rumors in recent days regarding the exit of American multinational consumer goods corporation Procter & Gamble from Pakistan.
Multiple posts on social media including LinkedIn and X suggest that the company is closing operations in Pakistan and employees have been conveyed the news.
In a major update today, Gillette Pakistan Limited (PSX: GLPL) said today 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.
Read More: Gillette to Exit Pakistan Amid Global Restructuring Drive
It is pertinent to mention here that Gillette Pakistan is a subsidiary of The Series Acquisition B.V. Netherlands, which is a wholly owned subsidiary of the P&G Company, USA.
In a report, MettisGlobal said that instead of directly operating in Pakistan, P&G will shift to a third-party distribution model to continue serving consumers in the country.
This means that P&G products will remain available in the market, but will be supplied through regional operations and local distributors, rather than being produced or managed by P&G’s own setup in Pakistan.
