PSX holds gong ceremony to announce building of in-house manufacturing facility for Panadol portfolio

KARACHI: Pakistan Stock Exchange (PSX) held a gong ceremony to the announce the building of an in-house manufacturing facility for Panadol portfolio by Haleon Pakistan Limited, a world-leading Consumer Healthcare Company and a listed company on Pakistan Stock Exchange.

The gong ceremony was attended by the British High Commissioner to Pakistan, Jane Marriott, as the Chief Guest at the occasion.

The team from the British High Commission and Haleon Pakistan Limited were received at the Stock Exchange by the MD and CEO PSX, Farrukh H Khan and Board member(s) PSX along with the senior management of the Exchange.

The gong was struck by the Chief Guest, Jane Marriott, and the CEO of Haleon Pakistan Limited, Farhan M. Haroon, in the presence of MD and CEO PSX, Farrukh Khan, Board members PSX, the team from the British High Commission and senior management of both Haleon Pakistan and PSX.

Speaking at the occasion, the MD and CEO PSX, Farrukh Khan warmly welcomed the British High Commissioner to Pakistan, Jane Marriott, her team, the CEO of Haleon Pakistan, Farhan Haroon, and the Haleon Pakistan management team, to PSX.

“Your visit to PSX will serve as a confidence building measure for the UK based companies in Pakistan and will send a positive message to the PSX listed companies to enhance business and trade with companies in the UK,” he said.

The CEO and General Manager of Haleon Pakistan Limited, Farhan Muhammad Haroon said that under the project, Haleon Pakistan Limited will be investing $10 million in its manufacturing facility at Jamshoro to bring the latest technology to Pakistan and enhance the production of Panadol to 08 billion tablets.

This will help to ensure smooth supplies of Pakistan’s largest pharmaceutical / Over-the-Counter medicine to the patients in need. This is in addition to the investment of $2 million being spent on enhancing manufacturing facility of CaC1000 Plus to cater to the local needs and export opportunities that the Company is currently working on.

“As a leading Consumer Healthcare Company, this investment is a testament to our commitment towards improving self-care in Pakistan”, he added.

The British High Commissioner to Pakistan, Jane Marriott said this investment will expand production capabilities and develop product lines to meet the growing healthcare demands of the Pakistani people.

“If Pakistan can continue to improve its business environment, we will no doubt see more new investments from existing UK investors,” he added.

Copyright Business Recorder, 2023