Karachi, 16 Oct 2023: The Pakistan Stock Exchange (PSX) hosted a gong ceremony to herald the development of an in-house manufacturing facility for the Panadol portfolio by Haleon Pakistan Limited. Esteemed attendees included the British High Commissioner to Pakistan, Jane Marriott, who graced the event as the Chief Guest.
Courtesy of a press release from the Pakistan Stock Exchange, the ceremony saw the presence of teams from the British High Commission and Haleon Pakistan Limited. They were welcomed at the PSX by its MD and CEO, Mr. Farrukh H. Khan, accompanied by board members and the Exchange's senior management. The gong, symbolizing the commencement of trading, was struck jointly by the Chief Guest, H.E. Jane Marriott, and the CEO of Haleon Pakistan Limited, Mr. Farhan M. Haroon.
Mr. Farrukh Khan, MD and CEO of PSX, extended a warm welcome to all attendees and emphasized the event's significance for fostering confidence among UK-based companies operating in Pakistan. Highlighting the economic opportunities presented by the Pakistani market, he congratulated Haleon Pakistan on their Panadol Expansion project.
Detailing the initiative, Mr. Farhan Muhammad Haroon, CEO and General Manager of Haleon Pakistan Limited, shared that Haleon would invest approximately USD 10 million in their Jamshoro facility. This investment aims to integrate cutting-edge technology into the production process, escalating Panadol's output to a staggering 8 billion tablets. This effort aligns with the firm's goal to maintain a consistent supply of one of Pakistan's leading pharmaceutical/Over-the-Counter drugs. In addition to this, an investment of approximately USD 2 million is slated to enhance the manufacturing facility of CaC1000 Plus, catering to local demand and burgeoning export opportunities.
Reiterating the broader implications of this move, the British High Commissioner to Pakistan, Jane Marriott, acknowledged the potential for this investment to address the rising healthcare needs of Pakistan's populace. She expressed optimism that with continued efforts towards fostering a conducive business environment, Pakistan might attract further investments from existing UK investors.