Procter & Gamble (P&G), the global consumer goods conglomerate, on Thursday announced it is winding down its manufacturing and commercial operations in Pakistan, including those of Gillette Pakistan Limited.
The company assured consumers in Pakistan this would not impact them, as it would instead move to a third-party distributor model.
According to P&G, the decision is part of its global strategy to accelerate growth and create more value. The company said it would continue normal business operations in Pakistan until the transition is complete, a process expected to take several months.
P&G said the transition planning would begin immediately, with a primary focus on supporting its employees. Staff whose roles are affected would be considered for opportunities in other P&G operations outside Pakistan or would receive severance packages in line with local laws and company policies. After reviewing several options, P&G said it concluded that working with a third-party distributor is the most practical way to keep its products available in Pakistan for now.
The company thanked its employees, partners, and consumers for their support over the years. “Thank you for your support all these years that has helped us take P&G in Pakistan as far as we could,” it said.
The Gillette Company LLC has formally notified Gillette Pakistan Limited and its Board of Directors about P&G’s decision to discontinue its business operations in Pakistan as part of a global restructuring strategy aimed at accelerating growth and value creation. In response, Gillette Pakistan Limited will soon convene a Board meeting to assess the necessary steps for winding down its business in the country, the company stated in a notification to the Pakistan Stock Exchange (PSX).
This review would include, if needed, the potential de-listing of Gillette Pakistan Limited from the Pakistan Stock Exchange, ensuring that all actions comply with relevant legal and regulatory requirements, the notification added.