Procter & Gamble to Exit Pakistan Under Global Restructuring Plan

KARACHI: The Procter & Gamble LLC informed Gillette Pakistan and its Board of Directors that P&G had decided to discontinue its business in the country to streamline its portfolio, supply chain, and organization for faster growth and value creation.

Gillette Pakistan said its Board of Directors will meet soon to decide on the necessary actions, including the potential delisting of the company from the PSX, in compliance with all regulatory and legal requirements.

The PSX Notice said, “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.”

P&G is an American global consumer goods company founded in 1837. The company is known for brands such as Pampers, Tide, Gillette, and Head & Shoulders.

In the Board meeting today, it is considering that the Company may commence appropriate preparatory and execution steps in furtherance of an orderly business closure in Pakistan, subject to compliance with all applicable legal and regulatory requirements.

Whereas, Series Acquisition B.V. (“Holding Co”), who holds more than 90% of the Company’s shares, intends to purchase the outstanding securities and shares presently listed at the Pakistan Stock Exchange for the purpose of delisting the Company, the notice said.

It is resolved that the Company be delisted from the Pakistan Stock Exchange under Rule 5.14 of Voluntary Delisting Rules Book, the notice said.

Upon acceptance of the application of delisting its shares from the PSX, in accordance with the Rule Book, a general meeting of the shareholders of the Company shall be convened and held within thirty days of agreement with the PSX on the purchase price, determined to seek approval through a special resolution for the delisting of the shares of the Company from PSX.

In a separate statement, P&G confirmed it would wind down its manufacturing and commercial operations in Pakistan and shift to a third-party distributor model. “We will continue to serve Pakistani consumers from our other operations in the region,” the company said, adding that the transition process may take several months.

P&G stressed that it will prioritize its employees during the transition. It said staff affected by the exit would either be considered for opportunities abroad or offered separation packages in line with local laws and company policies.

The decision follows P&G’s June announcement to cut 7,000 jobs worldwide—about 15% of its non-manufacturing workforce—while exiting select brands, categories, and product forms in individual markets.

The development comes as other multinationals pull back from Pakistan. Careem suspended its services in July, citing macroeconomic challenges and competition pressures, while Microsoft closed its operations in the country around the same time.

According to Bloomberg, more than 55 funded startups in Pakistan shut down or pivoted significantly between 2021 and 2024.