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Shaukat Tarin performs Groundbreaking of P&G Pakistan Plant

P&G announces investment of $100 million

Karachi, December 18, 2008 - Mr. Shaukat Tarin, Advisor to the Prime Minister on Finance, Revenue, Economic Affairs and Statistics presided over the ground breaking of P&G's second manufacturing facility in Pakistan at a formal ceremony held at Port Qasim Authority which would bring in Foreign Direct Investment of US $ 100 million. Also present at the occasion were senior government officials and Laurent Philippe, Group President for P&G's Central Eastern Europe, Middle East and Africa region.

Sharing his views on the occasion Mr. Shaukat Tarin, said; 'This investment shows the confidence of foreign investors in Pakistan's economic policies and environment and with the installation of P&G's plant, not only job opportunities will be created for middle class and young Pakistanis but the company will bring a lot of market knowledge here. The investors will have no problem to export their products from Pakistan for having access to big markets of the world, as Port Qasim is one of the best sites for investment. The Government will provide the maximum incentives and facilities to investors and our priority will be to mobilize the Overseas Pakistanis to invest maximum in the country.

Speaking at the occasion, Laurent Philippe said; "This is our second plant in Pakistan and it is P&G's largest investment in the country. This investment symbolizes P&G's confidence that Pakistan will continue to provide a stable and conducive business environment over the long-term; strengthening our commitment to invest more in the country and serve the consumers of Pakistan. With the plant occupying only one-third of the total 25 acres of land acquired, we have built in provision for future expansion projects and other plants to serve the domestic market with the full portfolio of P&G products."

Elaborating on the vision behind this investment, Qaisar Shareef, Country Manager P&G Pakistan said; "The launch of our second manufacturing facility in Pakistan is testimony to P&G's successful history in the country. This investment project will improve local industrialization prospects by creating tremendous potential opportunity of business over the next few years. Once established, the plant will create employment opportunities for more than 7000 Pakistanis directly and indirectly. Additionally, it will contribute $ 1.1 billion to the national exchequer over 10 years"

This mega project consists of the construction of a complete industrial production unit for the manufacture and packing of laundry detergent and diapers. The plant will be based on latest European technology, ensuring compliance not only to Pakistani requirements but also with the strictest American, British & German standards by not only minimizing the impact on the environment but also using less energy. In addition to bringing in the latest P&G technology, the plant will realize extensive local skill development with P&G experts from all over the world coming into Pakistan to train Pakistanis.

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Foundation Stone unveiling by Guest of Honour, Mr. Shaukat Tarin , Advisor to Prime Minister on Finance Revenue, Economic Affairs and Statistics and Mr. Laurent Philippe, P&G Group President

Guest of Honour Mr. Shaukat Tarin, Advisor to the Prime Minister on Finance, Revenue, Economic Affairs and Statistics performs symbolic shovel as a token of participation at P&G Pakistan's plant groundbreaking ceremony. Also seen in the picture are (L-R) Mr. Tarek El-Baradi - General Manager External Relations, P&G Central Eastern Europe, Middle East & Africa, Mr. Al Rajwani - Vice President, P&G Arabian Peninsula and Pakistan, Mr. Qaisar Shareef - Country Manager, P&G Pakistan, H.E. Anne Patterson - United States Ambassador to Pakistan, Mr. Sherif Gomaa - Plant Site Leader, P&G Pakistan, Mir Afsar Din Talpur - Chairman, Port Qasim Authority, Laurent Philippe - Group President, P&G Central Eastern Europe, Middle East and Africa region

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