When a global consumer giant like Procter & Gamble (P&G) shuts down its local manufacturing in a country of 240 million consumers, it sends a message louder than any statistic: Pakistan is losing investor confidence. P&G's decision to exit manufacturing as part of its global restructuring strategy might sound routine, but in a market of this size, such moves reflect more on the host country's business environment than on corporate plans. In recent years, a steady stream of multinationals – Shell, Microsoft, Careem, Telenor, Uber and several pharmaceutical and energy firms – have either downsized or departed entirely. While corporate exits happen globally, the pace and scale of withdrawals from Pakistan reveal deeper structural flaws. Once viewed as a promising emerging market, Pakistan is increasingly seen as a high-risk, low-return destination.

The departure of these companies carries real consequences, such as loss of jobs, tax revenues and technology transfer, as well as the loss of local manufacturing erodes employment and supply-chain........

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