The Determinants of Capital Structure of Stock Exchange-listed Non-financial Firms in Pakistan

Capital structure refers to the different options used by a firm in financing its assets. Generally, a firm can go for different levels/mixes of debts, equity, or other financial arrangements. It can combine bonds, TFCs, lease financing, bank loans or many other options with equity in an overall attempt to boost the market value of the firm. In their attempt to maximise the overall value, firms differ with respect to capital structures. This has given birth to different capital structure theories that attempt to explain the variation in capital structures of firms over time or across regions. On the other hand, empirical evidence is also not sometime consistent in substantiating a particular capital structure theory

Natural Disasters, Relief Aid, and Household Vulnerability in Pakistan: Evidence from a Pilot Survey in Khyber Pakhtunkhwa

Based on a pilot survey, we analyze the damages caused by floods in Pakistan, 2010, the istribution of aid, and the extent of recovery at he household level. With regard to the nature of damages, we show that flood damages had both between-village and within-village variation, and damages to houses, land (crops), livestock, and other business assets were not highly correlated. In the distribution of aid from outside, we again find substantial between-village and within-village variation - the aid distribution across villages appeared well-targeted toward the severely affected villages, while aid within villages was targeted toward households with larger house damages, but not toward households with larger damages to land, crop, or other assets. The positive aid response to house damages and the negative aid response to the initial wealth level were found but the marginal response of aid to these characteristics was not large. With regard to the recovery from flood damages, we find that aid recipients did not show higher or lower recovery than non-recipients, especially for house damages, which could be due to mixing of a recovery-promoting effect of aid and a selection effect of aid toward households that have more difficulty in recovery. We also show that households who had initially fewer assets and hit by larger flood damages had more difficulty in recovery.natural disaster, relief distribution, resilience, Pakistan

Prevalence of Giardia Lamblia in Stool Samples of Diarrhea Patients in Khost, Afghanistan

The present study was conducted in khost post graduate civil hospital to determine the prevalence of Giardia lambalia in stool samples of patients with complain of diarrhea or abdominal discomfort which were came from center and others different districts of Khost province. Three hundred sixty-eight (368) fecal samples were collected randomly from the male, female and children patients who visited OPD (outpatient department) of mention hospitals from March 2022 to August 2022. The samples were screened for the presence of parasites using microscopic techniques (formalin ethyl acetate sedimentation technique). Out of 368 sample analyzed protozoa etiological agent Giardia lambalia was detected in 34 (9.2%) which were representative of total population. Regarding sex in male 25(70%) and 9(30%) were female positive were detected. To control Giardia lamblia is by good hygiene, adequate cooking of food, and protection of food from flies, properly wash raw vegetables before serving, use of boiled water and well developed sewage system. The study concluded that the use of raw animal manure for fertilizer, irrigation of vegetables with fecal contaminated water, poor sanitary system and improper treatment of water supplies can increase the threat of contamination of water which is main source of causing giardiasis and other infections

Geochemistry and provenance of the Lower Siwaliks from southwestern Kohat, western Himalayan Foreland Basin, NW Pakistan

Equivalent to the Lower Siwalik Group, the Late Miocene Chinji Formation in Pakistan consists of interbedded in-channel sandstone (SSt) and overbank mudstone (MSt) sequences. Twelve sandstone and sixteen mudstone samples from three different sections of the formation in southwestern Kohat, NW Pakistan were analyzed for major elements and selected trace elements. The Chinji sandstones are feldspathic and lithic arenites. They are mostly matrix-supported, moderately to well sorted, and contain angular to rounded framework grains. Authigenic carbonate makes up most of the matrix. The framework grains consist of abundant monocrystalline quartz, alkali feldspar, and lithic fragments with subordinate mica and trace to accessory amounts of heavy minerals including epidote, monazite, apatite, garnet, rutile, and brown hornblende. The lithic fragments consist of sedimentary, volcanic, and low-grade metamorphic rocks.The average concentration of Zr, Nb and Y, and the Ba/Sc and Ba/Co ratios in the studied samples are lower than the corresponding values for the upper continental crust (UCC) and Post-Archean Australian Shale (PAAS) indicating the presence of mafic phases in the source area(s). The high average Cr/Zr and Cr/V ratios of the investigated samples relative to UCC and PASS also support the presence of mafic lihtologies, possibly chromite and ultramafic rocks in the source region. The La/Sc and Th/Sc ratios of the Chingi samples are more like the UCC while the Th/Co and Cr/Th ratios suggest a major contribution from mafic rocks. The average percent differences of the Chinji samples from both the UCC and PAAS in terms of critical silicic to basic trace element ratios (Ba/Co, Ba/Sc, La/Co, La/Sc, Th/Co, Th/Sc, Zr/Cr, and Zr/Sc) suggest a mafic contribution of 23 to 47% (mudstone) and 56 to 69% (sandstone). The lower Th/U, Rb/Sr and Zr/Sc ratios in the studied samples than the corresponding values of the UCC and PAAS suggest negligible recycling for the sediments of the Chinji Formation. Petrographic point count data on the Chinji sandstone indicate sediment derivation from a dissected arc, suture belt, and recycled orogen corresponding to the Kohistan-Ladakh Arc, the Indus Suture Zone, and the Himalayan Tectonic units, respectively. The different source rocks identified on the basis of various petrographic and geochemical parameters occur as part of the mentioned tectonic domains

Governance, Economic Growth and Socioeconomic Development in Pakistan

The interrelationship of governance quality, economic growth and economic development is an important area of research in the development field. The previous studies are based on single equation estimation techniques and provide evidence on bidirectional relationship of these variables. Furthermore, most of the studies use a narrow concept of development using single variable or HDI as a measure of human capital or socioeconomic development. The present study constructs a broader socioeconomic development index by incorporating twelve indicators each for social and economic development. This study is an attempt to fill up this gap in existing literature by estimating tripartite relation of governance, economic growth and socio-economic development by applying system method of estimation. The study examines the relationship of governance, economic growth and socioeconomic development using 3SLS approach that yields low variance estimates than limited information method for Pakistan economy for the period 1990-2017. The results reveal bidirectional positive relation of governance- growth and growth-socioeconomic development nexus. As for as governance-socioeconomic development nexus is concerned, it shows that there exists a negative bidirectional relationship. It implies a weak capacity of the government in providing service delivery to the society. The study suggests an improvement in the quality of governance in Pakistan for the uplift of socioeconomic development conditions

Geochemistry and provenance of the Lower Siwaliks from southwestern Kohat, western Himalayan Foreland Basin, NW Pakistan

Equivalent to the Lower Siwalik Group, the Late Miocene Chinji Formation in Pakistan consists of interbedded in-channel sandstone (SSt) and overbank mudstone (MSt) sequences. Twelve sandstone and sixteen mudstone samples from three different sections of the formation in southwestern Kohat, NW Pakistan were analyzed for major elements and selected trace elements. The Chinji sandstones are feldspathic and lithic arenites. They are mostly matrix-supported, moderately to well sorted, and contain angular to rounded framework grains. Authigenic carbonate makes up most of the matrix. The framework grains consist of abundant monocrystalline quartz, alkali feldspar, and lithic fragments with subordinate mica and trace to accessory amounts of heavy minerals including epidote, monazite, apatite, garnet, rutile, and brown hornblende. The lithic fragments consist of sedimentary, volcanic, and low-grade metamorphic rocks.The average concentration of Zr, Nb and Y, and the Ba/Sc and Ba/Co ratios in the studied samples are lower than the corresponding values for the upper continental crust (UCC) and Post-Archean Australian Shale (PAAS) indicating the presence of mafic phases in the source area(s). The high average Cr/Zr and Cr/V ratios of the investigated samples relative to UCC and PASS also support the presence of mafic lihtologies, possibly chromite and ultramafic rocks in the source region. The La/Sc and Th/Sc ratios of the Chingi samples are more like the UCC while the Th/Co and Cr/Th ratios suggest a major contribution from mafic rocks. The average percent differences of the Chinji samples from both the UCC and PAAS in terms of critical silicic to basic trace element ratios (Ba/Co, Ba/Sc, La/Co, La/Sc, Th/Co, Th/Sc, Zr/Cr, and Zr/Sc) suggest a mafic contribution of 23 to 47% (mudstone) and 56 to 69% (sandstone). The lower Th/U, Rb/Sr and Zr/Sc ratios in the studied samples than the corresponding values of the UCC and PAAS suggest negligible recycling for the sediments of the Chinji Formation. Petrographic point count data on the Chinji sandstone indicate sediment derivation from a dissected arc, suture belt, and recycled orogen corresponding to the Kohistan-Ladakh Arc, the Indus Suture Zone, and the Himalayan Tectonic units, respectively. The different source rocks identified on the basis of various petrographic and geochemical parameters occur as part of the mentioned tectonic domains

Performance Evaluation of Mutual Funds in Pakistan

In Pakistan Mutual Funds were introduced in 1962, when the public offering of National Investment (Unit) Trust (NIT) was introduced which is an open-end mutual fund. In 1966 another fund that is Investment Corporation of Pakistan (ICP) was establishment. ICP subsequently offered a series of closed-end mutual funds. Up to early 1990s, twenty six (26) closed-end ICP mutual funds had been floated by Investment Corporation of Pakistan. After considering the option of restructuring the corporation, government decided to wind up ICP in June, 2000. In 2002, the Government started Privatisation of the Investment Corporation of Pakistan. 25 Out of 26 closed-end funds of ICP were split into two lots. There had been a competitive bidding for the privatisation of funds. Management Right of Lot-A comprising 12 funds was acquired by ABAMCO Limited. Out of these 12, the first 9 funds were merged into a single closed-end fund and that was named as ABAMCO Capital Fund, except 4th ICP mutual fund as the certificate holders of the 4th ICP fund had not approved the scheme of arrangement of Amalgamation into ABAMCO capital fund in their extra ordinary general meeting held on December 20, 2003. The fund has therefore been reorganised as a separate closedend trust and named as ABAMCO Growth Fund. Rest of the three funds were merged into another single and named as ABAMCO Stock Market Fund. So far as the Lot-B is concerned, it comprised of 13 ICP funds, for all of these thirteen funds, the Management Right was acquired by PICIC Asset Management Company Limited. All of these thirteen funds were merged into a single closed-end fund which was named as “PICIC Investment Fund”. Later on the 26th fund of ICP (ICP-SEMF) was also acquired by PICIC Asset Management Company Limited

An Analytical Study of the Main Characters in the Fictions of Allama Rashid ul Khairi

Allama Rashid ul Khairi is considered to be a pioneer of Urdu short stories. His work is primarily centered on women's basic and social rights. He was a reformer who conveyed his thoughts and ideas in connection with Islamic teachings through his stories. Essentially, Rashid created various characters to challenge the behavior of a male-dominated society, including characters from feudal systems, the middle class, and the lower-middle class, all aimed at safeguarding women's rights in the early twentieth century in the Indian subcontinent. Main characters of the fictions of Rashid have been critically analyzed in this paper

Utilization of organic fertilisers a potential approaches for agronomic crops: A review

Organic fertilisers are of biological origin and the amount of nutrients they produce varies greatly. Besides providing the essential macro and micro nutrients, they also provide an array of plant growth-promoting substances. Organic agronomy is a relatively recent technique of farming in developed countries. While several studies were conducted on the impact of organic fertilisers on soil properties and crop production, further research is needed to determine comparative results between organic fertilisers. This paper aims to review some of the influences and impacts of poultry manure, cow dung, goat manure, vermicomposter and seaweed extracts. Much-needed characteristics of numerous crops were enhanced with the appropriate application of these organic fertilisers. Organic fertilizer applications influences the increase of plant heights, vegetative growth, yields and yield attributes. The application of adequate fertilisers also influences the qualitative parameters and post-harvest traits of most crops. Selecting the best organic fertilisers at an optimal application rate that could be the best source of nutrient supplement in cultivating qualitative crops, is a gap that needs to bridge. Therefore, different application rates of the above organic fertilisers were also studied