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Gillette Pakistan Formally Applies for Delisting as P&G Shifts to Distributor Model
Breaking News, Business

Gillette Pakistan Formally Applies for Delisting as P&G Shifts to Distributor Model

KARACHI: Gillette Pakistan Limited has formally applied to the Pakistan Stock Exchange (PSX) for delisting and approval to purchase shares held by minority shareholders, following its parent company Procter & Gamble’s (P&G) decision to restructure its operations in Pakistan. According to a notice issued to the exchange on Thursday, P&G’s subsidiary SABV, which owns 91.72% of Gillette Pakistan’s shareholding, has initiated the buyback process to acquire the remaining 8.28% shares — equivalent to 2,638,059 shares — from minority shareholders at a minimum price of Rs216.49 per share, determined under Regulation 5.14.1 of the PSX Rulebook. “The proposed delisting is a consequence of P&G’s global efforts to accelerate growth and value creation,” the notice stated. “The company has decided to shift its business and operating model in Pakistan and transition to a third-party distributor model to continue to serve consumers.” As part of this transition, Gillette Pakistan will wind down its manufacturing and commercial operations, making its continued listing on the PSX inconsistent with P&G’s global business strategy. Arif Habib Limited has been appointed as the purchase agent for the delisting process. Gillette Pakistan’s authorised share capital stands at Rs400 million, divided into 40 million ordinary shares of Rs10 each, with 31.87 million shares issued and fully paid-up.

Cadet College Wana
Breaking News, Pakistan

Terrorists Target Cadet College Wana: All Students Evacuated Safely as Security Op Nears Completion

Wana In a brazen assault underscoring persistent security threats in Pakistan’s tribal belt, terrorists stormed Cadet College Wana in South Waziristan on Tuesday, prompting a swift military response that successfully evacuated over 500 students and staff unharmed. The attack, attributed to Fitna al-Khawarij militants, left three security personnel martyred, with the operation against the remaining three assailants entering its final phase.Eyewitnesses reported gunfire and explosions around midday, as the attackers—believed to be in contact with Afghan-based handlers—attempted to breach the premises. Pakistan Army troops cordoned off the area, engaging the intruders and ensuring a safe extraction of all cadets and educators to nearby safe zones. “All students and teachers have been rescued; the hunt for the terrorists continues,” confirmed Interior Minister Mohsin Naqvi, vowing a thorough probe into cross-border linkages.Established in 2013 to promote education in the former FATA region, Cadet College Wana symbolizes resilience amid conflict. Prime Minister Shehbaz Sharif condemned the “cowardly” strike, directing enhanced intelligence-sharing with neighbours. Local leaders praised the forces’ rapid action, which averted a larger tragedy. As the clearance op wraps up, questions loom over renewed militancy, with analysts urging fortified border measures. The incident highlights the fragile peace in Waziristan, where such institutions foster future leaders despite risks.

Suicide Bombing Outside Islamabad Court Kills 12, Wounds 27
Breaking News, Pakistan

Suicide Bombing Outside Islamabad Court Kills 12, Wounds 27

Islamabad A suicide attacker struck on Tuesday at the main judicial complex in the G-11 sector of Islamabad, Pakistan, killing at least 12 people and injuring 27 others. According to Interior Minister Mohsin Naqvi, the attacker tried to enter the court premises on foot but, failing to gain access, detonated the explosives beside a police vehicle waiting outside the entrance. The explosion took place around midday in a typically busy area where court visitors, lawyers and staff gather. Videos and photographs showed wounded people lying near damaged vehicles and a chaotic scene of rescue operations. A break-away faction of the Tehreek‑e‑Taliban Pakistan (TTP), known as Jamaat‑ul‑Ahrar, claimed responsibility for the attack, according to reports. Pakistan’s government has blamed the violence on militant groups operating from across the Afghan border and alleged support from “India-backed elements”. Both Afghanistan and India reject the accusations. Defence Minister Khawaja Asif described the incident as a “wake-up call”, warning that Pakistan is facing a “state of war” while struggling to contain extremist activity. Authorities have sealed off the area for forensic investigations, analyzed CCTV footage and are working to trace any accomplices. The bombing marks one of the deadliest attacks in the capital in recent years and raises serious questions about the country’s security architecture.

Breaking News

Iran says US claim on plot to kill Israeli ambassador in Mexico ‘absurd’

“We found this claim very ridiculous and absurd,” says foreign ministry spokesperson Iran on Monday dismissed accusations by the United States that Tehran had attempted to kill the Israeli ambassador in Mexico, describing the claim as “absurd”. “We found this claim very ridiculous and absurd,” said Foreign Ministry spokesman Esmaeil Baqaei during a weekly press briefing, adding that it was part of an attempt to destroy Iran´s friendly relations with other countries. Iran’s foreign ministry spox says entire matter was fabricated. Israel thanks Mexico for foiling Iran-linked terrorist network. Mexico says it received no information on alleged terrorist plot. TEHRAN: Iran on Monday dismissed accusations by the United States that Tehran had attempted to kill the Israeli ambassador in Mexico, describing the claim as “absurd”. “We found this claim very ridiculous and absurd,” said Foreign Ministry spokesman Esmaeil Baqaei during a weekly press briefing, adding that it was part of an attempt to destroy Iran´s friendly relations with other countries. Following Washington’s accusation on Friday of the assassination attempt, Israel’s foreign ministry thanked Mexican authorities “for thwarting a terrorist network directed by Iran”. But Mexico’s foreign ministry later said it had “received no information” on the alleged plot, and Iran’s embassy in Mexico called it “a great big lie”. A US official alleged that Iran’s Islamic Revolutionary Guard Corps’ elite Quds Force initiated the plot in late 2024 and that it was disrupted earlier this year. The alleged plot involved recruiting operatives through Iran’s embassy in Venezuela, whose leftist president, Nicolas Maduro, maintains a tactical alliance with Tehran. “The entire matter was fabricated,” Baqaei said on Monday. In mid-June, Israel launched an unprecedented bombing campaign against Iran, triggering a 12-day war during which the US briefly joined with strikes on Iranian nuclear sites. A ceasefire between Iran and Israel has been in place since June 24.

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