سرآسوتوش مکرجی
گذشتہ ماہ کا سب سے بڑا علمی اور تعلیمی حادثہ سر آسوتوش مکر جی کی وفات ہے، بنگال کا یہ سپوت فرزند گو ایک نامور بیرسٹر، ایک قابل جج ہائیکورٹ، ایک بڑا مصنف، ایک مشہور ریاضی دان تھا، تاہم اس کی ناموری، قابلیت، بڑائی اور شہرت کا سب سے بڑا مظہر یہ تھا کہ اس نے تقریباً بیس برس تک ہندوستان کی سب سے بڑی درسگاہ کلکتہ یونیورسٹی پر بہ حیثیت وائس چانسلر سب سے عمدہ اور بہتر حکمرانی کی ان کی اس تعلیمی فرمان روائی کا زمانہ بنگال کی تعلیمی ترقی، اور امتحانات کی وسعت اور یونیورسٹی کے انتظامات کی خوبی اور معاملات تعلیمی میں حکومت کے مقابلہ میں پوری قوت کے ساتھ اپنے حقوق کی حفاظت کے لحاظ سے ہندوستان کا تعلیمی عہد زریں کہا جاسکتا ہے، موصوف نے اپنے بست سالہ عہد فرمان روائی میں یہ ثابت کردیاکہ جہاں تک یونیورسٹی کا تعلق ہے بنگال حکومت کی بے جا قید سے آزاد اور خود مختار ہے، ۲۹؍ مئی ۱۹۲۴ء ان کی وفات کا دن بنگال کے دائرہ تعلیم کے لیے ایک سانحہ عظیم ہے۔ (’’س‘‘، جون ۱۹۲۴ء)
The ethos of every postcolonial country was shaped by the way in which it secured its independence, therefore in analyzing the political development of Pakistan from its creation one must consider the related development of India prior to Partition, exploring the nature of colonial rule and it’s far reaching impacts on the political development of Pakistan after independence. While India has seen innumerable kingdoms rise and fall and many waves of invasions, the British encroachment in India from the 18th century onwards, particularly the direct incorporation of India as the jewel of the British Empire in 1857, was unique in that it wrenched the locus of political and economic control away from the Subcontinent to Europe. However, many British residents in India ‘went native’, by adopting local religion and culture. The British loved India, whether residents such as Rudyard Kipling or the ruling elite in Britain (e.g. Queen Victoria had Indian servants and companions). The British cultivated an elite group of administrators from the powerful indigenous landowners and middle-class professionals (the latter of whom were mainly from Hindu castes), which helped the British to consolidate their vested interests to strengthen their rule in India. The amalgamated British army consisted of Indian and British soldiers under the command of British officers. This paper discusses in detail the impacts of British colonial rule in the Subcontinent with special reference to post-independence Pakistan drawing on archival records and other written materials on the subject.
This research is related to the examination of the relationship of cash flow and level of investment under high
and low investment opportunities of 167 Pakistani non-financial manufacturing firms listed in the Karachi
Stock Exchange (KSE) during the period 2004-2013. It includes two definite objectives 1) to investigate the
relationship between investment and cash flow under high investment opportunities manufacturing firms
listed on KSE for the period 2004 to 2013. 2) to investigate the relationship between investment and cash flow
under low investment opportunities manufacturing firms listed on KSE for the period 2004 to 2013.Tobin's Q
is employed to capture the investment opportunities and sales are taken as control variable.
A panel data regression model is used to investigate the relationship of cash flow, Tobin's Q and sales on the
level of investment. In case of high investment opportunities firms, the relationship of investment and cash
flow is positive and significant while under low investment opportunities firms, this relationship is also positive
but insignificant.
These results indicate that the high opportunities firms rely mostly on internally generated cash flow where as
the low investment opportunities firms prefer to distribute its earning as dividend.