Billboards showing the actress promoting the hair removal product have been blacked out by protesters, reports The Express Tribune.
"Sell clothes, not your honour," the targeted hoardings in Karachi now say in Urdu.
The protest campaign has been attributed to the previously unheard-of groups the Women Education Society and the Women Professional Forum, who stated that the ads aroused desire and vulgarity.
It has also been claimed that the content of the billboards could cause traffic accidents.
Pakistani actress Meera has been similarly attacked for her advertisements for soap brand Lux.
Meera's Bollywood publicist Dale Bhagwagar, who also handled the PR for Kaif's debut film Boom, said: "Moral policing the roads in the age of the internet is like asking your toddler not to speak to the neighbouring toddler because she has a doll resembling a sex toy. It just doesn't work."
> Read our interview with Katrina Kaif here
Bhagwagar went on to add: "In any case, showing off a little skin with a sleeveless blouse or a backless dress couldn't be reason enough to black out posters and hoardings."