شہدائے کربلا
نحمدہ ونصلی علی رسولہ الکریم امّا بعد فاعوذ بااللہ من الشیطن الرجیم
بسم اللہ الرحمن الرحیم
معزز اساتذہ کرام اور میرے ہم مکتب شاہینو!
آج مجھے جس موضوع پر اظہار خیال کرنا ہے وہ ہے:’’شہدائے کربلا‘‘
اِک لمحہ شہادت کا سو سال سے بہتر ہے
یہ دولتِ ایمانی ہر مال سے بہتر ہے
صدرِذی وقار!
قرآن پاک میں اللہ تعالیٰ کا ارشادِ گرامی قدر ہے کہ جو اللہ تعالیٰ کے راستے میں مارا جائے اسے مردہ مت کہو بلکہ وہ زندہ ہے اور اس کی زندگی کا تمہیں شعور نہیں ہے۔ تلوار سے، نیزے سے، یا تیز دھار آلے سے اگر کوئی اللہ تعالیٰ کے راستے میں جہاد کرتا ہوا مارا جائے تو وہ مردہ نہیں ہوتا بلکہ اللہ تعالیٰ کا ایک اور مقام پر ارشاد ہے کہ اسے مردہ گمان بھی نہ کرو۔
صدرِمحترم!
جسم بے جان ہے، بے حس و حرکت ہے، سرتن سے جدا ہو چکا ہے، جسم کے ہر عضو سے روح باہرنکل چکی ہے،جسم سے خون بہہ رہا ہے، آنکھیں بے نور ہوچکی ہیں، کانوں سے قوت سماعت چھن چکی ہے، زبان سے قوت گویائی مفقود ہو چکی ہے، جنازہ پڑھایا جا چکا ہے، تد فین ہو چکی ہے لیکن کلمہ گو مسلمان اسے زندہ کہنے کا پابند ہے۔ بلکہ منع کر دیا گیا ہے کہ اسے مردہ گمان بھی نہ کرو، اس نے زندگی کا مقصد حاصل کرلیا ہے۔ اس لیے وہ زندہ ہے اور جو مقصد زندگی کے حصول میں نا کام ہے وہ چلتا پھرتاہے لیکن پھر بھی مردہ ہے۔
معزز سامعین!
شہدائے کربلا نے اپنے دین کی خاطر، اپنے ایمان کی خاطر، اپنی آن کی خاطر ، اسلام کے ابدی اصولوں پر کسی قسم کی سودے بازی کو اپنے پاؤں کی ٹھوکر سے ٹھکرادیا، اپنے نانا کے دین کو سر...
Marriage is a preamble of human life. The human society builds its façade on the characteristics of this unit. Humanity has been granted with divine rules for a successful life. The latest version of divine rules are conveyed through Islam and presented by the Holy Prophet Muhammad of benefits everlasting and grand the declared Islam of history Early. (صلى الله عليه وسلم) these rules in all nooks and corners of life; as Qur’ān and Ḥadīth prominences the trend of in-time marriages to ensure the tangible merits of life. Qur’ān declares marriage as ‘God given relationship’, ‘order from God’, ‘A lawful manner’, ‘Firm covenant’, ‘Love and compassion’, ‘Chastity of life’, ‘Right of women and Sign of safety’ and along with it, as marriage emphasizes (صلى الله عليه وسلم) Muhammad Prophet the of traditions the depicting it a ‘Half of religion’, ‘Protection of eyes’, ‘Prevention of character from corruption’, ‘source of Devil’s desperation’ etc. Owing to this stress of in-time marriages, a Muslim society is not supposed to delay or ignore in time marriages. But in present era, the trend of delaying in making marriages or ignoring the importance of in-time marriages is observing everywhere. This delay in making in-time marriages of young generation shows the weaknesses of faith and confidence in life. It is also the cause of many physical diseases and mental disorders. It destroys the best capabilities and abilities of young force. This paper highlights the importance of timely marriages, strength of married-couple life and damages of late marriage so that the requisite of Islam to form the society on the desired shape may be fulfilled. Lastly, this article emphasizes the need to review/change the social behavior regarding late marriages it also emphasizes the need to review/change the social behavior regarding late marriages and a herald to initiate some sorts of laws for making in-time marriages in society so that prevailing damages due to late marriages can be curtailed.
In today’s competitive environment every corporate sector organization faces a challenge to generate, sustain and enhance their profits to increase the value of business in terms of increased market value, hence these organizations need to perceive clearly about how their developed strategies would affect their performance and the valuation. The study is focused on how corporate financial strategies; related to various operational, investment and financial decisions add value for the organizations. The study identified, measured and evaluated; the association among corporate financial strategies and the corporate performance valuation; and contributed to the validity, predictability and the relevance of various financial indicators and their impact on corporate performance; for a developing country like Pakistan where the internal and external environment of the firms and the industry is significantly different as against the developed and other developing countries. Based on the review of literature and the empirical findings of the earlier studies; four constructs including solvency, liquidity, profitability and activity are developed to represent the independent variable corporate financial strategies; whereas corporate performance valuation is represented by market to book value ratio. The study considered non financial sector companies listed at Karachi Stock Exchange (KSE) as population and used purposive or judgmental sampling to achieve the objectives and to approach the target group. Hence three major economic groups were selected on the basis of number of companies listed in the groups and the market capitalization; namely Sugar & Allied; Chemical & Allied and Cement & Allied. The study took 10 years annual data from the financial statements of the selected 101 companies; covering years 2001 to 2011. Thus 1,010 firm year data is used for measuring and analyzing the relationships between the studied variables for better digging out the implications of the variables over the long run and adding to the reliability vof generalizing the results for the studied sectors. Balanced panel data is taken for the purpose of study by selecting only those companies for which consecutive annual data is available for the period of study under consideration. The study used both descriptive and inferential statistics to analyze the data and generalize the results. For descriptive statistics analysis mean, median, standard deviation, skewness and kurtosis are used whereas for inferential statistics panel least square technique with fixed effects model is used to determine the significance of the predicting variables and to measure the impact of significant predictors on dependent variable. Panel least square fixed effect model is used to control for the heterogeneity over time and to control the effects of time invariant variables with time invariant effects after adjusting for heteroskedasticity of data, to ensure unbiased estimates for standard errors and variance coefficients. Data stationarity is checked through Levin, Lin & Chu panel unit root test for multiple series panel data structures to increase the reliability and validity of the models. The study found that the performance of the selected corporate sectors in terms of market to book value is affected by a variety of internal firm and industry specific factors. For liquidity analysis the results indicated that sugar and allied industry is facing liquidity problems and supported that current ratio and inventory turnover are positively linked whereas quick ratio and receivable turnover are negatively linked with market to book value ratio. Chemical and allied industry is found to have satisfactory liquidity position with receivable turnover and inventory turnover ratio found to be positively linked whereas quick ratio negatively linked with market to book value ratio. Cement and allied industry is found to have liquidity problems with current ratio and inventory turnover positively linked whereas quick ratio and receivable turnover vinegatively linked with market to book value ratio. For all the three sectors inferential statistics endorse the significance of liquidity management for corporate performance. For solvency analysis results indicated that sugar and allied industry is facing solvency problems and supported that debt to equity ratio and interest coverage both are positively linked with market to book value ratio. Chemical and allied industry is also facing solvency problems with debt to equity ratio and interest coverage being positively linked with market to book value ratio. Cement and allied industry is also facing solvency problems with debt to equity ratio and interest coverage being positively linked with market to book value ratio. For all the three sectors inferential statistics endorse the significance of solvency management for corporate performance. For profitability analysis the results indicated that sugar and allied industry is facing low profitability and supported that return on equity is positively linked, profit margin is negatively linked whereas gross margin and return on assets have no impact on the market to book value of sugar and allied industry. Chemical and allied industry is enjoying reasonable profitability with return on equity being positively linked, return on assets negatively linked whereas gross margin and profit margin have no impact on the market to book value of chemical and allied industry. Cement and allied industry is facing low profitability with return on equity being positively linked, return on assets negatively linked whereas gross margin and profit margin have no impact on the market to book value of cement and allied industry. For all the three sectors inferential statistics endorse the significance of profitability management for corporate performance. For activity analysis the results indicated that sugar and allied industry is having good activity with sales growth negatively associated whereas asset turnover positively linked with market to book value ratio. Chemical and allied industry is having good activity with asset turnover viipositively linked with market to book value ratio whereas sales growth have no effect on market to book value ratio of chemical and allied industry. Cement and allied industry is having good activity with sales growth negatively associated whereas asset turnover positively linked with market to book value ratio. The results supported the resource based view that the firm specific capabilities along with the available resources are equally significant for creating value through the idiosyncratic resources and thus the firm specific factors are considered key determinants of firms’ performance. The findings of the study do not provide with a particular homogeneous solution for every organization; however the findings may serve as some standard guidelines that should be considered and applied to any organization for developing and implementing the strategies as per their needs and circumstances. Findings of the study provide with the overview of the historic and the potential performance of the selected sectors to help policy makers in devising and implementing the strategies for adding value to the organizations. Moreover the findings would serve as a tool to be adopted by the industry experts to establish the link between the financial indicators and the corporate performance; to quickly and timely respond to the changes and challenges raised in their respective sectors.