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104. Al-Humazah/The Slanderer

104. Al-Humazah/The Slanderer

I/We begin by the Blessed Name of Allah

The Immensely Merciful to all, The Infinitely Compassionate to everyone.

104:01
a. Woe to every slanderer and backbiter,

104:02
a. as also the one who amasses wealth without spending a part of it on charity, and keeps
adding and counting it over and over again,

104:03
a. thinking - in his ignorance - that his wealth will make him live forever.

104:04
a. Never!
b. It is not like what he thinks.
c. On the contrary, he will certainly be flung into the Crushing Fire - that which breaks its inmates to pieces.

104:05
a. And what may enable you to comprehend the Crushing Fire?

104:06
a. The Crushing Fire is Allah’s Fire, fiercely set ablaze,

104:07
a. which will leap up and penetrate deep into sinful peoples’ hearts and shall burn within as without.

104:08
a. It will definitely be closing upon them from all directions,

104:09
a. in towering and extending columns of flames.

M.H. Panhwar as a Historian

The scope of this article is to find out the strengths and weaknesses of M.H. Panhwar’s historical work and to compare it with other scholars of Sindh. He is the initiator of scientific history writing of Sindh and the only historian who tried to uncover the face behind the social organisation of Sindh. According to him, ‘History is the history of production, control over the means of production and production to its final distribution’. The history is more about people than that of the ruling class as people are makers of history. He had vision to analyze things in their correct historical perspective and, in this context, he took support of archeology, as it is the source of scientific truth. Writing history with data acquired through carbon testing is a new phenomenon in Sindh, which was locally introduced by M. H Panhwar.1 M. H. Panhwar, therefore, was one of the pioneers in giving a new meaning to history by including both ruling elites and the common folk, progressive science, crop technology, forest, wildlife, etc.2 He was the first to throw light on areas which were ignored by other historians. According to him, history written before him is full of the accounts of the rulers’ role in relation to their nobles and foes, battles they fought, attacks, palace plotting, mausoleums, folklore, fiction and so on. Accounts regarding contemporary climate, environments, diversion of rivers, courses and the resultant ruination of irrigation systems, migrations, shifting of people, occupations, social life of the populace etc. Found little room in written histories. For instance changes in production and its means, administration and justice, agriculture, land, animal husbandry, irrigation sources and methods of mining, metallurgy, industry and industrial goods, matrimonial institutions, family and children, houses and interiors, art, architecture, archaeology, personal appearance, dresses, ornaments, foods and drinks, taxes, coins and currency, science and technology, foreign contacts, international trades and traders, routes of trades, religious beliefs, philosophy, hygiene, medicine and doctors, superstitions, common citizens, economic conditions, historical geography of bygone ages, classes of work and their relation with one another, household life, customs, entertainments, pastimes, leisure, attitude of man to nature, languages, literature, literary contacts with outside word, learning and thoughts, status of women and children in affluence and extreme poverty.3 Hence, in real sense M.H Panhwar was scholar of Haig’s Raverty’s and Lambrick’s calibre.

Capital Acquisition Practices and Preferences of Micro and Small Enterprises Mses

This study examines the major determinants of the capital acquisition decision by the MSEs in Pakistan. The study sample consisted of MSEs in the administrative division of Multan in the southern region of province of Punjab. Adopting a postpositivist paradigm, mixed methods research design was employed to mitigate the constraints of data collection and access to the financials of MSEs in Pakistan. The researcher conducted a preliminary study comprising of the 30 in-depth interviews taken from the MSE owners/managers and bankers to develop and finalize the theoretical framework. In the main study, questionnaire survey was conducted by the researcher himself and the panel of facilitators who were graduates in the field of commerce and finance. Nine hundred usable questionnaires, out of 1350 administered, were included in the analysis based on the different regression models. Factors related to the owners/managers, their financing practices and allied strategies are identified as significant determinants of dependent variables of capitalization decisions, choice of debt, equity financing and financing preferences examined in respective models. Owners’ internal financing strategy and growth preferences were identified as important mediators of the hypothesized relationships between the dependent variables and their predictors. Both the qualitative and quantitative analysis evidenced the application of pecking order theory of financing. The moderating effects of economic and environmental factors are also examined. This study provides important insights about MSEs’ capitalization according to the traditional financial paradigm, as well as, from the modern strategic management perspective.The study concludes with vital implications for the academicians, researchers, businessmen, financiers and the policy makers. The study also suggests viable measures to create an enabling financing environment for increasing the rates of the formation as well as growth in the MSE sector.
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