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اسمِ اعظم کے وہ اسرار کو پالیتے ہیں
اسمِ اعظم کے وہ اسرار کو پا لیتے ہیں
’’عشقِ سرکاؐر جو سینے میں بسا لیتے ہیں‘‘
نعمتِ عُظمیٰ کا فیضان انہیں ملتا ہے
جو درِ قدس پہ دامن کو بچھا لیتے ہیں
اُن کو آتے ہیں نظر نورِ ہدیٰ کے جلوے
خاک طیبہ کی جو آنکھوں میں لگا لیتے ہیں
ہر صحابیؓ کا یہ مسلک ہے کہ رودادِ الم
جنؐ کی سُنتا ہے خدا اُنؐ کو سُنا لیتے ہیں
روزنِ چشمِ تصوّر سے اُنہیںؐ دیکھتے ہیں
دوریوں میں یوں حضوری کا مزا لیتے ہیں
شوقِ طیبہ کا شجر سوکھنے کب دیتے ہیں
اشکِ ہجراں کا اِسے پانی لگا لیتے ہیں
اُن کی سانسوں میں بسی خلدِ بریں کی خوشبو
شہرِ طیبہ کی جو عرفانؔ ہوا لیتے ہیں
A Study of Socio-Economic Problems Faced by Labors in Brick Kiln: A Case Study of District Hyderabad (Rural)
The present study investigates the socio-economic problems of the labors in Brick Kilns which are situated in the vicinities of district Hyderabad (Rural). Eighty three respondents from twenty five brick kilns were selected for interview. It is found that majority of the respondents was illiterate and never visited educational, technical and religious institutions. The economic categorization of the labors revealed that majority was categorized as ‘poorest of poor’ (living below poverty line), having semi-pacca houses, earning less than 10,000 rupees per month to manage their entire family. Due to very low income they spent least amount on education and health while more on food and utilities. The general problems reported by the labors are: poor quality of drinking water, no shelter at work place, child labor, low and late payment of wages, long working hours etc. Besides these, both male and female labors informed about misbehave and use of abusive language by the owner/manager, even few of them also complained about physical abuse. Stomach problem was found as common disease in men followed by Anemia whereas in women Anemia was ranked first followed by Backache.Determinants of Corporate Cash Holdings and its Implications: Evidence from Pakistan’S Corporate Sector
This study examines the determinants of corporate cash holdings and their implications for non-financial firms by pursuing three main objectives. The first objective examines firm-specific factors that determine the optimal level of corporate cash holdings. Empirical results are consistent with some of the theories such as information asymmetry theory, financial distress hypothesis and the transaction costs hypothesis that suggests that the higher fixed processing fee for obtaining external financing discourages smaller firms to go for external financing and hence prompting them to hold more liquid assets. Nevertheless, these results support the argument of Opler et al. (1995) that larger firms have more capacity to accumulate cash since they are presumably more profitable. The results also suggest that Pakistani companies are sensitive to the volatility of cash flow and that firm’s cash holdings are highly influenced by a precautionary need. Empirical evidence also lends credence to the argument that credit market frictions are responsible for high correlation between cash holdings and cash flow of the firm. Results also indicate that there are no differences in the patterns of cash holdings between the group-affiliated and the non-group businesses. Second objective of the study examines the effect of corporate governance on cash holdings. Results are line with the finance literature which suggests a role for effective corporate governance in disciplining managers and weak governance may lead to a tendency of the managers to hold excess cash holdings. Empirical results are also in line with the interest alignment hypothesis. Finally, third objective of our study examine cash holding behavior under macroeconomic uncertainty. Empirical results provide support to the hypothesis that uncertainty in macro-economic variables leads firms to similar cash holding behavior since uncertainty in the macroeconomic environment can affect the manager’s ability to predict their future cash flows.Journals by Discipline
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