The House Building Finance Corporation Limited Pakistan: A Sharia’h Appraisal of Ghar Aasan Flexi Scheme

The main purpose of this paper is to examine the Sharia’h appraisal of House Building Finance Corporation Limited. The House Building Finance Corporation was established in 1952 under the act of parliament to finance construction of houses in the urban areas of Pakistan. In this research Ghar Aasān (Flexi) product of HBFCL is examined from Sharia’h perspective and a comparison is made with Islamic Banking (Meezan Bank Limited) and Conventional Banking United Bank Limited (UBL). This study also comprises the opinion of Sharia’h experts for the shariah compliance of Ghar Aasān (Flexi) scheme.

Evaluation of Different Cropping Patterns under Command Area of Small Dams in Pothwar: A Case Study of Pira Fatehal Dam

Small dams have been constructed in Pothwar region with huge investment for supplementary irrigation. However, farmers in command area (the area around the dam where the irrigation water reaches or that can be irrigated from a dam and is fit for cultivation) of small dams have not benefited from this precious water and are still doing traditional agriculture such as summer fallowing etc. Non-existence of suitable cropping pattern may be one reason. Therefore, different cropping patterns (i) fallow-wheat (Fallow-Triticum aestivum) (CP-1), (ii) mash bean - wheat (Vigna mungo-Triticum aestivum) (CP-2), (iii) sorghum - wheat (Sorghum bicolor-Triticum aestivum) (CP-3), (iv) maize (grain) - wheat (Zea mays-Triticum aestivum) (CP-4), (v) maize (grain) - chick pea (Zea mays-Cicer arietinum) (CP-5) and (vi) mung bean - canola (Vigna radiata -Brassica napus) (CP-6) were evaluated for agro economic efficiencies under command area of Pira fatehal dam as well as for adjacent uncommand or rain-fed area, on sandy loam soil for two years. Highest grain yield of wheat (winter crops) was obtained from mash beanwheat (Vigna mungo-Triticum aestivum) (CP-2) as compared to those from maize-wheat (Zea mays-Triticum aestivum) (CP-4), fallow-wheat (fallow-Triticum aestivum) (CP-1) and sorghum - wheat (Sorghum bicolour-Triticum aestivum) (CP-3) cropping patterns, respectively, under both the environments. Chick pea grain yield remained lowest under both the environments. Regarding summer crops, sorghum fodder (Sorghum bicolour), maize grain (Zea mays) and mash bean (Vigna mungo) performed excellent in terms of economic and grain yield. On the other hand, mung bean (Vigna radiata) reflected poor response for grain yield under both the environment. Benefit cost ratio of 7.17% and 5.35% for mash bean-wheat (Vigna mungo-Triticum aestivum) (CP-2) was highest under both the environments, while lowest benefit cost ratio (5.12 %) was exhibited from maizechick pea (Zea mays-Cicer arietinum) (CP-5) under irrigated and (1.37%) 19 from mung bean-canola (Vigna radiata -Brassica napus) (CP-6) under rain-fed environment, respectively. Highest net returns were obtained from maize-wheat (Zea mays-Triticum aestivum) (CP-4) cropping pattern under irrigated while from mash bean-wheat (Vigna mungo-Triticum aestivum) (CP-2) cropping pattern under rainfed environment. Mung bean-canola (Vigna radiata -Brassica napus) (CP-6) proved the lowest in terms of net returns from both the environments. Highest marginal rate of return was exhibited by mash bean-wheat (Vigna mungo-Triticum aestivum) (CP- 2) when compared with fallowwheat (Fallow-Triticum aestivum) (CP-1), while maize-wheat (Zea mays-Triticum aestivum) (CP-4) and sorghum - wheat (Sorghum bicolour-Triticum aestivum) (CP-3) ranked 2nd and 3rd on marginal rate of return basis in the same comparison, under irrigated environment. On the other hand, mash bean-wheat (Vigna mungo-Triticum aestivum) (CP2) ranked 1st and mung beancanola (Vigna radiata -Brassica napus) (CP-6) ranked 2nd when compared with fallow-wheat (Fallow-Triticum aestivum) (CP-1) for marginal rate of return in rainfed environment. Water use efficiency of wheat, following mash bean under both the environments exhibited higher values when compared with those from sorghumwheat, fallow-wheat and maize-wheat cropping patterns. Mung bean showed poor response among all the cropping patterns for exhibiting water use efficiency under both environments. Cropping intensities (of 200 %) from all the cropping patterns except fallow-wheat (100%) were recorded from both the environments. During the course of study, 2nd year summer and winter crops received higher rainfalls than that of first year, which affected the economic yields of crops under rain-fed environment, where as performance of all crops remained better under irrigated environment during both the seasons and years, as below average rainfalls were compensated by supplementary irrigations. Hence, this study concludes that farmers having supplemental irrigation water resources should adopt maize (grain)– 20 wheat (Zea mays-Triticum aestivum) (CP-4) cropping pattern, based on economical return as well as efficient utilization of available supplemental water, whereas, based on improved nutrient utilization and monetary outputs, mash bean-wheat (Vigna mungo-Triticum aestivum) (CP-2) cropping pattern should be followed under rainfed areas for better resource management. Also summer fallowing practice is not economical for farmers under both irrigated and rain-fed environments.