By Our Correspondent

Copyright pakobserver

KARACHI – The Procter & Gamble Company, an American multinational consumer goods corporation, has discontinued its operations in Pakistan as part of its global restructuring program.

It has informed the Securities and Exchange Commission of Pakistan, and the Pakistan Stock Exchange about its decision.

“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,” read the official letter.

A meeting of the Board of Directors of Gillette Pakistan Ltd will be convened shortly to evaluate the actions required for this business discontinuation – including, where relevant, the potential de-listing of Gillette Pakistan Limited from the Pakistan Stock Exchange, in compliance with all applicable legal and regulatory requirements.