الحاج ابراہیم سلیمان سیٹھ
افسوس ہے کہ الحاج ابراہیم سلیمان سیٹھ ۲۷؍ اپریل کو دل کا دورہ پڑنے سے بنگلور میں وفات پاگئے اور وہیں ۲۸؍ اپریل کو ان کی تدفین ہوئی، اس وقت مسلمانوں کے جو گنے چنے سیاسی قاید اور ملی رہنما رہ گئے تھے، ان میں ابراہیم سلیمان بڑے مخلص اور قدآور تھے۔
تقسیم ہند کے بعد جب پورے ملک میں مسلمان شکستہ خاطر اور پست حوصلہ ہورہے تھے تو اس وقت الحاج مولوی محمد اسماعیل مرحوم نے انڈین یونین مسلم لیگ کی بنیاد ڈالی اور مصالح و حالات کے تقاضے سے اس کا دائرہ عمل کیر الا تک محدود رکھا، بعد میں دوسرے صوبوں میں بھی اس کو وسعت دینے کی کوشش کی گئی مگر اس میں کامیابی نہیں ہوئی تاہم کیرالا میں انڈین یونین مسلم لیگ نے مسلمانوں کی ہمت و حوصلہ بلند کیا اور ان کا وزن و وقار باقی رکھا، یہاں اس کا زور و اثر اتنا بڑھا کہ کوئی حکومت اس کے اشتراک کے بغیر نہیں چل سکتی۔
الحاج ابراہیم سلیمان سیٹھ شروع ہی سے مولوی محمد اسماعیل مرحوم کے معتمد اور قریب ترین رفیق تھے، ان کی زندگی ہی میں سیٹھ صاحب مسلم لیگ کے جنرل سکریٹری ہوگئے تھے اور ان کی وفات کے بعد اس کی مسند صدارت کو رونق بخشی، ان کی قیادت میں مسلم لیگ بڑی متحرک اور سرگرم رہی، اس کی کامیابی اور اترپردیش میں مسلم مسائل سے کانگریس کی سرد مہری اور متعصبانہ رویہ دیکھ کر مرحوم ڈاکٹر عبدالجلیل فریدی کو یہاں بھی مسلم مجلس قائم کرنے کا خیال ہوا لیکن ڈاکٹر صاحب کی بے وقت موت، اترپردیش کے سیاسی حالات کی پیچیدگی اور خود مسلم مجلس کی تقسیم در تقسیم کی وجہ سے مسلم مجلس کوئی کارنامہ انجام نہیں دے سکی۔
یہ مسلمانوں کی بڑی بدنصیبی ہے کہ جب ان کی کوئی...
The authors approach towards the text of some narrators is neither absolute acceptance nor absolute refusal to their texts regardless of whether they are authentic or unauthentic. Hence, it should be noted that even the authentic narrator’s text can be rejected on the basis of the context in which the text is narrated. Likewise, the unauthentic narrator’s text should not be rejected in context where the narrator is assumed to be authentic. The narrator might have been of weak memorisation, but his text may be accepted because of his long companionship to that particular Sheikh whereby he acquires strength. This research is limited to the unauthentic narrators whose text about a particular Bukhari, Muslim and Nisei. The objective is to extract these unauthentic narrators out of the men of Bukhari, Muslim and Nisei depending on the judgments of the critics that are related to the documentation of the unauthentic narrator and the acceptance of his text reported about a particular Sheikh, through the reviewing of reliable references. The study also aims to the extraction of the narrations of those narrators in Bukhari, Muslim and Nisei and its study in terms of text in order to know how the classifier quotes those narrators.
Stock market performance is generally considered to be the reflector of financial and economic conditions of a country. There are number of macroeconomic and industry related factors that potentially can affect the stock returns of the companies. The primary purpose of this study is to examine the stock returns variation to specific macroeconomic and industry variables by applying multi-factor model. The model consists of macroeconomic and industry variables including market return, consumer price index, risk free rate of return, exchange rate, money supply and industrial production. The study attempts to determine which, if any, of the macroeconomic and industry variables are of use in explaining the variability of stock returns of Pakistani Industries. The firms relating to 09 different sectors are selected for this study on the basis of data availability, profitability and performance on the Karachi Stock Exchange 100 index. These sectors are Banking, Cement, Fertilizer, Automobile, Ghee, Pharmaceutical, Petroleum, Tobacco and Textile. The stock prices data for the selected firms and economic variables obtained for the maximum period of 10 years. Descriptive statistics performed for the temporal properties of the data and Augmented Dickey Fuller (ADF) test applied to find out the data stationarity. GARCH model used to analyze the risk and returns relationship. The tests applied on the stock returns of each firm of the industry and on the data set of the entire industry as well to generalize the results. An attempt was therefore made to ascertain whether a multi index model was better than a single index model in explaining the variation in stock returns of Pakistani Industries. The results reveal that market return is mainly responsible for the stock returns variation, however the inclusion of other macroeconomic and industry related variables has added additional explanatory power in - xii` describing the stock returns variation. It is evident from results that stock returns volatility depicts time varying characteristics across the industries and there is some statistical relationship between risk and return. It is found that industry stock returns are more responsive to changes in economic conditions than firm level stock returns. Results also indicate that stock returns of different industries behave differently in similar economic conditions that acquaint investors about the risk diversification opportunity in the stock market. The contribution of economic variables towards stock returns can help researchers/practitioners/investors to understand the risk return relationship and pricing of economic risk and for the legislators to undertake certain measures for the improvement of economic conditions and hence stability and growth of the stock market and economy.