KARACHI: Pakistan has been left shocked as several major multinational companies are exiting the country. Consumer goods giant Procter & Gamble (P&G) has announced that it will soon end its operations in Pakistan. The company said the move is part of a plan to restructure its supply chain by shifting to third-party distribution models.

Earlier, several global companies, including Shell, Microsoft, Uber, Eli Lilly, and Yamaha Motors, had also stopped their operations in Pakistan. The country’s economy is already unstable due to the weak currency, and the latest decisions by major firms to reorganise operations could further increase unemployment. According to Pakistan’s leading daily Dawn, the companies are restructuring mainly due to geopolitical reasons, not domestic issues.

At the same time, the report noted that strict regulations in Pakistan have caused significant delays in business operations, forcing some companies in specific sectors to leave the country. High taxes and a rigid regulatory system have also made Pakistan less attractive for foreign investment, the report added.

Experts believe that instead of maintaining offices in every country, many corporations are now choosing to consolidate operations in global hubs like the UAE and Singapore, which is one of the key reasons why major companies are withdrawing from Pakistan.