Authoritative Position of Investor and Scope of Liability in Modarabah Contract: Classical and Contemporary Jurists Perspective

The position of investor is always questioned once capital is handed over to a working partner (Mudarib). The concerns of investor along with series of liabilities cannot be ignored because Modarabah losses are always transferred or born by him/her. The study highlights the authoritative position of Investor and suggests that investor has full access to impose conditions on Mudarib to safeguard his interest as per shariah rulings. The study debates investor’s position to impose geographical restrictions to restrict the scope of trade, trade policy of working partner (Mudarib) and fixation of time.  Besides, the study discourses the concept of limited liability in context of Islamic law where creditors hold right to personal wealth of the debtors.

Response of Cotton to Tillage, Irrigation and Sowing Methods

Cotton (Gossypium hirsutum L.), the White Gold, occupies a pivotal position in Pakistan’s economy as it is the major source of raw material for textile industry in the country. Currently, cotton crop is facing a number of restraints, resulting in low yield per ha. Some of the constraints include costly agricultural inputs (seed, fertilizers, pesticides etc), pest attack, lack of pest and disease resistant varieties, good quality seed, scarcity of irrigation water, improper cultivation method and unavailability of advanced technologies. The research was conducted at the University of Agriculture, Faisalabad, Pakistan, to explore the response of cotton to tillage, irrigation and sowing methods. The aim of the experiment was to assess most suitable and economical tillage system and planting method for cotton crop, to attain efficient irrigation water utilization and saving without affecting crop yield or quality and to quantify the irrigation water for cotton crop required for different planting methods. Keeping in view, two different experiments were conducted for two consecutive years. First experiment comprised of two tillage systems i.e., conventional tillage (one time disc harrow + two cultivations + planking) and deep tillage (chiselling twice + one cultivation + planking) and three sowing methods viz; flat sowing, ridge sowing, and bed sowing. The second experiment comprised of two irrigation levels (50% field capacity and 75% field capacity) along with three different sowing methods (flat sowing, ridge sowing, and bed sowing). Replicated three times, both experiments were laid out in split plot design randomizing tillage systems in main plots and sowing methods in sub-plots in experiment I while in experiment II irrigation levels were randomized in main plots and sowing methods in sub-plots maintaining a net plot size of 6.0 m × 9.0 m. Bt cotton variety AA-703 was sown at 75 cm spaced rows using 20 kg seed rate ha-1. Data pertaining to growth and yield parameters were recorded and analysed statistically. In first experiment, higher root length was recorded at deep tillage than conventional tillage during both the years of the study. Deep tillage gave maximum leaf area index (LAI) and total dry matter (TDM) showing increase in seed cotton yield of 18.72% in 2010 and 11.14% in 2011. Bed sowing produced 8.8% higher yield than ridge sowing in 2010 and 4.12% higher during 2011 and 25.61 and 16.47% higher than flat sowing respectively. Deep tillage with bed sowing gave maximum net returns of Rs. 121556/- with benefit cost ratio (BCR) of 1.81 in year 2010, while in 2011 it was Rs. 68627/- with BCR 1.45. In second experiment, application of irrigation at 75% field capacity (FC) significantly increased LAI, crop growth rate (CGR), net assimilation rate (NAR) and TDM over 50% FC in 2010 and similar trend was also observed in 2011. Water applied at 75% FC enhanced 38 % yield during 2010 and 30.49% in 2011 than 50% FC. Bed sowing produced 12.1% and 18.09% (in 2010) and 6.08 and 19% (in 2011) higher yield than ridge sowing and flat sowing, respectively. Irrigation level of 75% FC with bed sowing gave maximum net return of Rs. 82574/- with BCR of 1.54 in 2010, while Rs. 43336/- with BCR 1.28 in 2011.