Gillette Pakistan said on Thursday it would evaluate a potential delisting following a decision by its parent Procter & Gamble to discontinue its business in Pakistan as part of the consumer product group’s global restructuring programme.
Gillette Pakistan plans to convene a board meeting shortly to evaluate the actions required for this business discontinuation, including the potential de-listing from the Pakistan Stock Exchange, the company said in a filing.
P&G said in a separate statement that the company would wind down its manufacturing and commercial activities in Pakistan and rely on third-party distributors to continue to serve customers in the country.
More to follow