Pakistan, Oct. 4 -- The Pakistan Stock Exchange (PSX) has approved the Philip Morris delisting from its index. The decision came after the tobacco giant voluntarily requested removal under PSX Regulation 5.14 and Section 19(5) of the Securities Act, 2015. The delisting will take effect on Monday, October 6, according to the official announcement.

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Philip Morris, based in Stamford, Connecticut, is one of Pakistan's largest tobacco companies. Its brands include Marlboro, Parliament, Morven by Chesterfield, Diplomat, K2 and Red and White. The company has operated for decades in the country but has now chosen to withdraw from the stock market voluntarily.

The PSX press re...