Pakistan will not be able to recover in one year, so it may allocate resources every year to gradually reduce losses.

FBR has sought documents related to sales and margins on petroleum products in a bid to resolve the turnover tax issue

SBP accepted bids worth Rs83.02 billion in its auction of market treasury bills.

Fatima Fertiliser Company has announced plans to float American Depository Receipts.

The high turnover tax is likely to deal a blow to the earnings of oil marketing companies.

SBP will introduce credit guarantee schemes for encouraging banks to extend fresh loans in flood-hit regions.

The government has indicated that it will slash 50 per cent of the development budget and give funds to flood relief.

Asian Development Bank has set an aim of increasing allocations for regional cooperation activities to 30 per cent.

Pakistan is trapped in a vicious cycle of debt and options to come out of it are few.

Flash floods have submerged cotton fields and may lead to a drop in production by one to three million bales.