دہر کی نفرتوں کا ستایا ہوں میں
جستجو ہے مجھے الفت و مہر کی
ایک یوٹوپیائی جہاں ہو جہاں
فاختہ کا نشیمن سلامت رہے
اس کی پرواز پر کوئی پہرہ نہ ہو
ہر سو چاہت کے، احساس کے گل کھلیں
امن کا گیت گائیں جہاں پر سبھی
میری تو منزلِ شوق ہے بس یہی
Islamic Fiqh is the representative of legal aspect of Islam. It has been originated and established on direct teachings of Qur’an and Sunnah of the Holy Prophet Muhammad (SAW). These two sources are called primary sources of Islamic law. There are some supplementary sources to the primary sources; Istihsan (Juristic Preference) is one of these. Orinetalist’s studied and produced literature on Islamic law. Istihsan has also been discussed by them but they have different opinions about its origin and its role in Islamic law. In this article their opinions are being critically analyzed and the definition, role and types of Istihsan being presented according to Muslim’s viewpoint. This research concluded that the Goldziher, Joseph Schacht, MicDonald, David Pearl, and Benjamin Jokisch explanations about the establishment of Isti╒san are not correct.
This Study analyzes various aspects Of exchange rate pass through (ERPT) to consumer Prices in Pakistan by using monthly data from April 1991 to December 2016. It measures the magnitude of ERPT With recursive VAR model. The impact of sharp adjustments in exchange rate is also evaluated by incorporating dummy variables with the same empirical method. it also assesses the changes in pass through coefficient by using relatively more flexible empirical method Time Varying Parameters VAR (TVP-VAR) model. Results show that: (I). The magnitude of ERPT estimated from the recursive VAR tends to be low when sharp exchange rate adjustments are not specifically accounted for, however, when these adjustments are incorporated the coefficient increase significantly. (2). Spilt sample analysis with VAR models indicates that the ERPT was relatively higher between 2002 and 2008 due to increased foreign exchange inflows and relatively stable exchange rates phase during that period. Time varying analysis of ERPT suggests that the pass through magnitude varies over time in case of Pakistan. It was higher during February 2007 due to stable exchange rates while lower during March 1996