Phillip Morris Pakistan to shut down factory in Kotri

MG News | March 04, 2019 at 09:43 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

March 4, 2019 (MLN): As part of a strategic review to optimize process efficiencies and operational effectiveness, and in order to best position the company for a strong and viable future growth, the management of Phillip Morris Pakistan Limited (PMPK) has decided to close its factory in Kotri, Pakistan.

By mean of this action, PMPK means to reorganize its operational footprint in the market.

According to an official announcement issued to the Pakistan Stock Exchange (PSX), the company will be filing an application for closure of the factory and retrenchment of permanent workers employed by them, with the provincial labor department.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	178,913.93 414.95M	-1.37% -2484.29
ALLSHR	107,861.12 929.50M	-1.23% -1345.96
KSE30	53,310.13 242.25M	-1.46% -788.37
KMI30	255,374.73 220.90M	-1.39% -3608.05
KMIALLSHR	69,989.37 524.62M	-1.26% -896.62
BKTi	48,762.91 46.29M	-1.36% -670.68
OGTi	36,504.33 17.90M	-1.72% -639.54

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,935.00	66,160.00 64,825.00	-765.00 -1.16%
BRENT CRUDE	79.70	80.77 78.79	-0.15 -0.19%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	7.50 6.49%
ROTTERDAM COAL MONTHLY	125.50	0.00 0.00	-0.40 -0.32%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	76.02	76.78 74.98	0.17 0.22%
SUGAR #11 WORLD	14.24	14.33 14.22	-0.07 -0.49%