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اسیر

اسیر
آسماں پر چاند ستارے اور سورج بھی
چاندنی راتوں میں خوشبو کے مفسر کی!
ایلاف الست و ہست کی!
شام و سحر کی زنجیر سے بندھے۔۔۔موسموں کے ساتھ فسانے سناتے رہتے ہیں
آسمان سے پرے۔۔۔!
جن گلیوں میں سوسن و نسترن کی حکایتیں گونجتی ہیں
وہیں کہیں درِ طلسم پر کئی عنوان تڑپتے رہتے ہیں
جدائی کی لمبی روایتوں میں!
سبز شاخوں پر نازل ہوتے سرخ گلابوں کی حکایتوں میں!
جن کی آنکھوں سے خون بہہ رہا ہو۔۔۔!
جس کے ماتھے پر عین ، شین ،قاف لکھا ہو!
انہی قافلوں کے جناب قیس۔۔۔!
صحرا سے ساحلوں تک علمدار بن کے آتے ہیں
مسافتوں کے مارے۔۔۔شبنمی زمانے یہی داستاں سناتے ہیں
محبتوں کے اسیر۔۔۔چاہتوں کے سفیر کو بہت رولاتے ہیں

دشت غزالہ کے رازوں میں۔۔۔!
چاندنی راتوں میں پتھروں پر لہو نچوڑا جاتا ہے
تکمیل جنوں کے طاق میں روغن چشم سے چراغ روشن کیا جاتا ہے
عشق پرانا ہوتا نہیں۔۔۔دل کا صحیفہ رد ہوتا نہیں
سبز موسم میں نفرتوں کا وظیفہ ہوتا نہیں
عشق زادوں کی یہ داستان۔۔۔!
دشت و بیاباں سناتے رہتے ہیں
آرزو کا یہ باب۔۔۔!
مقدس کتاب سے پڑھ کر دیوانے سناتے رہتے ہیں
محبتوں کے اسیر۔۔۔چاہتوں کے سفیر کو بہت رولاتے رہتے ہیں

 

سربراہ ریاست کے اختیارات: جدید مغربی سیاسی افکار کا سیرت نبوی کی روشنی میں تجزیاتی مطالعہ

Accountability is essential for proper working of government and its institutes. If it the head and other members of government are not hold accountable then they can cross their limits and rights of people may not be preserved. Authoritative persons may take advantage of their position. Western political thinkers are of mix opinion, some of them think it necessary to be held accountable but a few deny this. Islam strictly prohibit the miss use of authority so accountability is its essential part. Since the reign of Holy Prophet (PBUH) as the head of first Islamic state, special focus has been put on accountability. People were appoint for this purpose. Caliphates put themselves in front of their masses to ask whatever their want to ask. They are only be obeyed until they order according to the Islamic law.

Impact of Fundamental Measures on Dividends: Evidence from Non-Financial Firms Listed at Pakistan Stock Exchange

This study examines the insight dynamics of factors affecting dividend payout in the context of Non-Financial firms listed at Pakistan Stock Exchange (PSX) in KSE-100 Index. Through observation, 66 firms were identified from 18 sectors of Non-Financial firms that have been paying the regular dividend in the past 6 years (2009-2014). In this study, a complete business cycle has been encompassed for reader?s view. Key explanatory variables were identified on the basis of prior literature (Dividend Payout, Cash Flow on Total Assets, Debt to Equity, Profitability, and Liquidity) and one which has not been studied before and considered significant is Free Cash Flow to Capital Expenditure. For econometric analysis of the data, Multivariate Regression Analysis was considered as a most appropriate tool. Descriptive statistics of data under study described its normality. In empirical analysis, Housman and BPLM tests declared random effect exist in the panel data. Moreover, data was found free from contemporaneous correlation, multicollinearity issue, and autocorrelation but the issue of heteroscedasticity has been found. Results of the study revealed that free cash flow to capital expenditure, debt to equity, net profit margin and current ratio are significantly impacting the dividend payouts. However two measures are insignificant that are cash flow to total assets and absolute liquidity ratio. These results suggest that Managers of the listed firms in Pakistan Stock Exchange (PSX) should aim to increase the meaningful cash flows to capital expenditure for the profitable projects that would yield high profits to firms, this will lead to high dividend and improve the investors? confidence.
Asian Research Index Whatsapp Chanel
Asian Research Index Whatsapp Chanel

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