Philip Morris Pakistan

Philip Morris Pakistan is a Pakistani tobacco manufacturing company which is a subsidiary of Philip Morris International. It is headquartered in Karachi, Pakistan. The company is involved in the manufacturing and sale of cigarettes and tobacco products.[2]

Philip Morris Pakistan
TypePublic
PSX: PMPK
IndustryTobacco
Founded1969 (1969)[1]
Headquarters,
ProductsCigarettes
ParentPhilip Morris International
Websitewww.pmi.com/markets/pakistan/en/about-us/overview

It is the second-largest tobacco company in Pakistan after Pakistan Tobacco Company.[3]

History

The company was founded in 1969 as Lakson Tobacco.[2]

In 2007, Philip Morris International acquired the company by increasing its shareholding to 97 percent.[4]

In 2015, the company shut down its plant in Mandra, Rawalpindi District due to rising costs and smuggling of tobacco in Pakistan.[5] 141 employees lost their jobs.[6]

In 2019, the company announced that they are shutting down Kotri plant in order to restructure their finances.[7] As a result, 193 employees lost their job.[7]

Factories

In the past, the company operated in more than five locations, but to due smuggling and rising cost it shut down in three locations.[8] The company currently operates two factories in following cities:

See also

References

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