Is Engro Really Shutting Down in Pakistan?

Engro Corporation Limited (PSX: ENGRO) on Monday dismissed reports of closing operations in Pakistan. “In response to recent false information circulating on social media regarding Engro ceasing its operations in Pakistan, we wish to clarify that the same lacks any factual basis, is unfounded and we outrightly reject the assertion,” it said in a tweet on X. “Engro remains steadfast in its endeavors to ensure prosperity for Pakistan and its people through businesses that help solve some of the country’s most pressing issues,” it added. The principal activity of the Company is to manage investments in subsidiary companies, associated companies, and joint ventures, engaged in fertilizers, power generation, telecommunications infrastructure, petrochemicals, mining, food, LNG, and chemical storage.