یہ زخم اپنے دل کا تو سِل بھی سکتا تھا
تُو کن اگر جو کہتا وہ مل بھی سکتا تھا
پژمردہ سا یہ غنچہ ہم دل ہیں جس کو کہتے
گر ساتھ وہ جو چلتا تو کھل بھی سکتا تھا
The Pakistani youth are engaged day and night in a struggle for attainment of education, technology, and status. But what is deplorable is that they have forgotten their cultural values, ethics, code of life, and religious identity in order to unite with external powers in becoming part of the drive for development and they have become ignorant of their fundamental responsibilities as a member of the Muslim Ummah. What are the priorities and issues facing Muslims on the local, national, and international levels? Especially in Europe and America the Muslim youth are standing at the crossroads. They are undergoing a religious, ideological, and moral decline. History is eye witness to how the Muslim youth made valuable sacrifices in all walks of life and persevered in making incredible achievements. Moreover, it is the three-fold ideological, cultural, and emotional invasion of the anti-Islamic forces which has been the cause of a weakening of faith in the Muslim Ummah in general and the young generation in particular, since ideology is of primary significance for any nation, religion, movement, or group. It is true that nations are formed and sustained on the basis of ideology. The moment the ideological base is weakened, decline and dissolution become the fate of nations. They are unaware of how it is our foremost national duty and an urgent need to develop scholars who would propagate the Islamic agenda. Contrastively, the anti-Islamic forces are engaged in engendering their representatives. Hence, in order to safeguard our youth from ideological and religious dissolution it is necessary that educational and cultural steps are taken in society in advance so that our youth are provided with a wholesome environment free of ideological dissolution. An outline of the article is given below: The importance and significance of the prime of youth, The ideological propensities of the youth, The causes of dissension in youth, The remedy of dissension, are discussed in detail in this article.
Corporate sector plays a pivotal role in the growth and economic development of the country. The objective of the present study is to assess the financial decision practices in the service sector of Pakistan. The study investigates the relationship and importance of financial decision determinants (uncertainty, CSR, and stakeholder interest) and financial performance in the presence of mediating role of capital budgeting, capital structure, and dividend policy. The target respondents of the present study were Chief Financial Officers (CFOs) of the service sector industries (Telecommunication, Banking, and Insurance) of Pakistan. The sample was limited to listed companies at Karachi Stock Exchange (KSE). The total population of the study was eighty four and all the respondents were approached for data collection. A questionnaire was used for data collection having 5- point Likert scale. Pilot testing was conducted in order to test the validity and reliability of the instrument. Refined questionnaire was distributed among companies operating in Islamabad, Rawalpindi, Lahore, Karachi, Peshawar, and Quetta. This study employed Confirmatory Factor Analysis (CFA), reliability, descriptive statistics, and a Structural Equation Model (SEM). Results reveal that the decision makers are well aware and agreed to the importance of applications of financial decisions and its determinants in the service sector of Pakistan. However, there are few areas where respondents do not agree or do not consider important, like pattern of past dividends, concern over maintaining share price and dividend cuts. The study concludes that the availability of financial resources and attitude of senior management are the major constrains for the capital investment. The study provides sufficient evidences that capital budgeting, capital structure and dividend policy are key mediators among determinants of financial decision practices and organizational financial performance. Resource availability is an important constraint to capital investment; this should be removed through private public partnership, foreign direct investment and by reducing interest rates. It is recommended that companies may take initiatives in corporate social responsibility activities and may screen out uncertain situations while making financial iii decisions. Service sector companies are also recommended to enhance the interest of stakeholders by providing them consistent dividend and establishing the suitable platform for the understanding the financial decisions. Keywords: Uncertainty, Corporate Social Responsibility, Stakeholder Interest, Capital Budgeting, Capital Structure, Dividend Policy, Organizational Financial Performance