In a significant development, the Pakistan Stock Exchange (PSX) recently hosted a momentous gong ceremony to mark the announcement of Haleon Pakistan Limited's substantial investment in an in-house manufacturing facility for its Panadol portfolio, reports WealthPK. Haleon Pakistan Limited, a world-leading consumer healthcare company and a listed entity on the PSX, has pledged to invest approximately $10 million in this ambitious project. British High Commissioner to Pakistan Jane Marriott attended the ceremony as chief guest. Farrukh Khan, MD and CEO of PSX, emphasized the significance of the event, highlighting its role as a confidence-building measure for the UK-based companies operating in Pakistan.

Mr. Khan also noted that this investment would send a positive message to the PSX-listed companies, encouraging them to explore and expand their business and trade collaborations with their British counterparts. Furthermore, Khan congratulated Haleon Pakistan on the launch of the project. He underlined the history of excellent profitability experienced by multinational companies in Pakistan and commended Haleon's commitment to the nation. Under this initiative, Haleon Pakistan Limited is set to invest approximately $10 million in a state-of-the-art manufacturing facility located in Jamshoro. This substantial investment aims to bring cutting-edge technology to Pakistan and increase the production capacity of Panadol to a staggering 8 billion tablets.

This strategic move aims to ensure a seamless supply of Pakistan's largest pharmaceutical and over-the-counter medicine to the needy patients. Additionally, Haleon Pakistan Limited is allocating an extra $2 million to enhance the manufacturing facility of CaC1000 Plus, catering to local demands and export opportunities. Talking to WealthPK, Kashif Siddiq, Manager Equity Operations at the PSX, said Haleon Pakistan Limited's recent announcement of a $10 million investment represents a significant development with far-reaching implications for Pakistan's economic landscape. This investment underscores the strength and potential of Pakistan's pharmaceutical sector, he said, adding with the global pharmaceutical market experiencing a steady growth, this expansion positions Pakistan as a key player in meeting both domestic and international demand for essential medicines.

Talking to WealthPK, Hamza Anwar, Equity Manager at Zahid Latif Khan Securities, said such substantial investments by a reputable international healthcare company signify a high level of confidence in Pakistan's economic potential. This not only strengthens the country's image as an attractive investment destination but also encourages other global players to consider Pakistan for future ventures, he added. Investments of this magnitude typically lead to the creation of a significant number of jobs, directly and indirectly, he said.

The development of manufacturing facilities and increased production capacity will generate employment opportunities, contributing to reduced unemployment rates and enhanced economic stability, Hamza said. Haleon Pakistan's substantial investment in expanding its Panadol manufacturing facility not only underscores the company's confidence in Pakistan's economic prospects but also paints a rosy picture of the nation's economic outlook. The commitment of local and international companies to invest in Pakistan's growth is a promising sign, heralding enhanced healthcare capabilities and stronger economic ties. This endeavor benefits both Pakistan and its global partners, fostering economic growth and prosperity.

Credit: Independent News Pakistan (INP)