&imwidth=800&imheight=600&format=webp&quality=medium "Why is Procter & Gamble exiting cash-strapped Pakistan after 34 years?")
Procter & Gamble Company, one of the world's largest FMCG companies, is reportedly planning to exit cash-strapped Pakistan. The announcement came weeks after the giant announceda global restructuring drive. The company is planning to shut down its manufacturing in Pakistan, including its razors division, Gillette Pakistan Ltd. It is also mulling over delisting from the Pakistan Stock Exchange.
Gillette Pakistan’s board will make the decisions in this regard. The company's shares surged to a three-week high after the announcement.
In June, P&G announced its plans to streamline its brand portfolio and slash as many as 7,000 jobs over two years.
The company has reportedly been facing challenges in Pakistan, which has been experiencing several political and economic challenges. The country has a weak consumer demand. The company is also facing challenges emanatingfrom restrictions on profit repatriation, reported Bloomberg.
Gillette Pakistan’s revenue nearly halved in the fiscal year ended June 2025.
P&G entered Pakistan in 1991. It sells brands like Pampers, Safeguard, Ariel, Head & Shoulders, and Pantene in Pakistan.
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The firm said in a statement that it has decided to use a third-party distribution model "to serve consumers in Pakistan at this time". The current employees of the firm might be considered for placements abroad. They may also be offered severance packages.
Saad Amanullah Khan, a former chief executive officer at Gillette Pakistan, said that the exits must make the rulers of the country aware that the economy is in doldrums. He cited regulatory pressures and high energy costs for the company's decision.
Several countries have already exited Pakistan, including Shell Plc, Pfizer Inc., TotalEnergies SE, and Telenor ASA.
P&G sold its soap manufacturing facility last year.
"Shell, Pfizer, Total, and Telenor have all pulled back from Pakistan in recent years as multinationals retreat despite its status as the world’s fifth-most populous nation. Pakistan has wider business and economic challenges, including profit-repatriation curbs and weak demand," Bloomberg journalist Faseeh Mangi wrote on X.