The branch also oversaw a variety of cross-cutting issues, including cybersecurity, counterterrorism spending, and information sharing and safeguarding.

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This is where all the business travellers stay and is part of a respected, though not exactly cutting-edge, chain - the branch in Peshawar has a famous sign: 'Please leave your guns in the lobby'.

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With vast, hugely overstaffed branch networks and far weaker balance sheets, cutting costs and instituting a commercial credit-culture will be a gigantic task.

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It leaves the decision whether to use further borrowing, cost-cutting or new taxes to pay it clearly in the hands of the legislative branch.

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