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Chemicals Pakistan

The second quarter proved difficult in our Chemicals Pakistan business. Demand and pricing in the Polyester business turned sharply due to deteriorating downstream market conditions. In addition, the performance of our Soda Ash business was hindered by reduced gas availability, negatively impacting both volume and margin. The change in demand pattern, energy supply disruptions and the continuing devaluation of the local currency resulted in a deterioration in performance in the quarter.

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