Gillette Pakistan Limited announced on Thursday that Procter & Gamble (P&G) has decided to stop its business operations in Pakistan. This decision is part of P&G’s global plan to restructure its portfolio, supply chain, and organization to speed up growth and create more value.
The company told the Pakistan Stock Exchange (PSX) that a Board of Directors meeting will be held soon to discuss the next steps. This may include delisting Gillette Pakistan from the stock exchange, following all legal and regulatory rules.
Gillette Pakistan Limited was set up on December 9, 1986, as a public company under Pakistan’s Companies Ordinance (now the Companies Act, 2017). It is a subsidiary of The Series Acquisition B.V. Netherlands, which is fully owned by P&G USA.
The company’s main work has been marketing and selling blades and razors in Pakistan.
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