Global Firms Exit Pakistan Market

SECP confirms closure of multiple foreign branch and liaison offices

February 21, 2026: A wide range of foreign companies have officially shut down their branch or liaison offices in Pakistan, reflecting a significant shift in the country’s foreign corporate footprint, according to a report by Pakistan Observer. The list includes firms from the United States, United Kingdom, United Arab Emirates, China, Malaysia, Singapore, Japan, Turkiye, Australia, Sweden, Bahrain, Canada, France and the Netherlands, among others, highlighting the scale of the international business presence that has now withdrawn.

Among the prominent names are energy major ExxonMobil’s subsidiary ExxonMobil Exploration and Production Pakistan B.V., electronics giant Panasonic Corporation, and airline operator Lufthansa. Technology and telecom-linked firms such as Dell, Nortel Networks (Asia) Ltd and Telcordia Technologies, Inc. have also wound up operations. The exits span sectors including oil and gas, engineering and construction, banking, insurance, consulting and manufacturing.

Other entities listed include Halliburton Limited, Doosan Heavy Industries and Construction Co., Mashreq Bank and T.C. Ziraat Bankasi A.S., along with international non-profit and trade bodies such as the American Soybean Associations and Peace Winds Japan. The Securities and Exchange Commission of Pakistan (SECP) clarified that the companies completed the required legal procedures to close their offices. However, no specific reasons for the closures were disclosed.