Tanzeem e Islami, Pakistan and Kuddam ul Quran (Founded by Dr. Israr Ahmed)

1. ]ÞjŠ^h
!È|Z]zpZ&Æ*x yZ
Ž7À
êLŒÛMã
(78 )e: æøqø^âô‚öæ»]Êôo]Ö×#äôuøÐ$qô`ø^•ôå´
&&ÎDƒñ ZK4+ Zzg 6¿™Dƒñ
hÆjÆa è ÂÄ!ëÆ{8ZzgŠ+
âwzYyИŠ™gì•X
ZDÑ] l ¶& l w#Ö l
¸³
qƒZbâhZ£
54000 ´)ZDwgzeÔ¥S•áƒÑƒgX 67-A %œ~Ší:
36293939,36316638,36366638 ¯y:
email: markaz@tanzeem.org
website: www.tanzeem.org
Ίw#ÖÔ¶&ÔZDÑ] ......................... *xÂ[
5200.............................. Y( 2015 TZzw)âÞ
7300............................... Y( 2015 TŠzx)âÞ
4400.............................. Y( 2015 TÎx)âÞ
^Zsò ................................................. *Ñ
´)ZDwgze¥S•áƒÔуg 67-A ......... £ÄZ•á®
Wàs6ì6öуg .............................. -

2. ]ÞjŠ^h
!È|Z]zpZ&Æ*x yZ
Ž7À
êLŒÛMã
(78 )e: æøqø^âô‚öæ»]Êôo]Ö×#äôuøÐ$qô`ø^•ôå´
&&ÎDƒñ ZK4+ Zzg 6¿™Dƒñ
hÆjÆa è ÂÄ!ëÆ{8ZzgŠ+
âwzYyИŠ™gì•X
ZDÑ] l ¶& l w#Ö l
¸³
qƒZbâhZ£
54000 ´)ZDwgzeÔ¥S•áƒÑƒgX 67-A %œ~Ší:
36293939,36316638,36366638 ¯y:
email: markaz@tanzeem.org
website: www.tanzeem.org
Ίw#ÖÔ¶&ÔZDÑ] ......................... *xÂ[
5200.............................. Y( 2015 TZzw)âÞ
7300............................... Y( 2015 TŠzx)âÞ
4400.............................. Y( 2015 TÎx)âÞ
^Zsò ................................................. *Ñ
´)ZDwgze¥S•áƒÔуg 67-A ......... £ÄZ•á®
Wàs6ì6öуg .............................. -

3. 5
z„
™• ÄZy •Ñg
3 ²n*Ñ 1
5 ²n¸³ 2
7 »z/ZzgÓ䙊Zg ΊD 0Îy~Z-Z› 3
11 Hì? …eFç] 4
12 Wc‹ŒÛW6ÅgzÝ~ ΊDD è#Ö w 5
15 ZqŠ"ìGILIgžÅgzÝ~ ΊDD è#Ö w 6
18 ΊŶ& 7
29 Z‹ZŸ]ZzgŽZ!] 8
41 Ç¿ Ñ 9
44 e 10
²¸*Ñ
]uÛ‚åæ]‘×oÂ×o…‰çÖä]ÖÓ†mÜ(]Ú^eÂV
Å ikÃÂ^LLΊ:w#ÖÔ¶&ÔZDÑ]óóqƒZbâhZ£™r
@;ìXgNYzZx[Y…•žw#ÖΊÐWDŽìx™äZzg0Îy~
ZzgZyƈè{Sà m Z-ZŠÎŠÆa!ã^Zsò|]eZËZuZgZ£
™ŠZgZŠZ™Dgì•X
ZkÂaÅZ•á®]hÆñî6Zk‚
+Aõ
E
»E™{̃Yñž
¦¸gpyZMgu6341|Å92z,@gõÃzZµƒäzZá9.œî EGZߊZqÔŠz
ZVÆâθ³èÂ[¿´ªƈ,YZÞÐZÙw•Ûâ‰X
]Þ^Ö×äæ]Þ^]Önä…]qÃçá=
¸³%jx^Zsò0ÎyÆ%œ~*ò%½zFšÆ•ÛZø
Z•xŠïƒñÔZq½7g’Ozdi0ϦZg™ay)45(‚wÅ/~…
ŠZr¢g‰ÜŠ}‰X
Zv4:¬àZkÂaZzgŠvd»xÃQyÆaœ£îG0Ygt¯ñXW}X
zZOÈqwÐt!]7æ{7ìž^ZsòäZKŠú]ÅãŠ
X…m”Z]ÆgŠzZ-ZŠ6g¿ìQy~uz„LLΊóó‰ZºZ|]Ãg3
âÞ5102Y@3†g~6102YZ-ZŠÎŠÆaZq 51 ŠìXOVp^Zsò
o•î`g„ìXZÏ¢zg]Æ•ZkÂaÅZ•á®]h7ÃìX
3

4. 5
z„
™• ÄZy •Ñg
3 ²n*Ñ 1
5 ²n¸³ 2
7 »z/ZzgÓ䙊Zg ΊD 0Îy~Z-Z› 3
11 Hì? …eFç] 4
12 Wc‹ŒÛW6ÅgzÝ~ ΊDD è#Ö w 5
15 ZqŠ"ìGILIgžÅgzÝ~ ΊDD è#Ö w 6
18 ΊŶ& 7
29 Z‹ZŸ]ZzgŽZ!] 8
41 Ç¿ Ñ 9
44 e 10
²¸*Ñ
]uÛ‚åæ]‘×oÂ×o…‰çÖä]ÖÓ†mÜ(]Ú^eÂV
Å ikÃÂ^LLΊ:w#ÖÔ¶&ÔZDÑ]óóqƒZbâhZ£™r
@;ìXgNYzZx[Y…•žw#ÖΊÐWDŽìx™äZzg0Îy~
ZzgZyƈè{Sà m Z-ZŠÎŠÆa!ã^Zsò|]eZËZuZgZ£
™ŠZgZŠZ™Dgì•X
ZkÂaÅZ•á®]hÆñî6Zk‚
+Aõ
E
»E™{̃Yñž
¦¸gpyZMgu6341|Å92z,@gõÃzZµƒäzZá9.œî EGZߊZqÔŠz
ZVÆâθ³èÂ[¿´ªƈ,YZÞÐZÙw•Ûâ‰X
]Þ^Ö×äæ]Þ^]Önä…]qÃçá=
¸³%jx^Zsò0ÎyÆ%œ~*ò%½zFšÆ•ÛZø
Z•xŠïƒñÔZq½7g’Ozdi0ϦZg™ay)45(‚wÅ/~…
ŠZr¢g‰ÜŠ}‰X
Zv4:¬àZkÂaZzgŠvd»xÃQyÆaœ£îG0Ygt¯ñXW}X
zZOÈqwÐt!]7æ{7ìž^ZsòäZKŠú]ÅãŠ
X…m”Z]ÆgŠzZ-ZŠ6g¿ìQy~uz„LLΊóó‰ZºZ|]Ãg3
âÞ5102Y@3†g~6102YZ-ZŠÎŠÆaZq 51 ŠìXOVp^Zsò
o•î`g„ìXZÏ¢zg]Æ•ZkÂaÅZ•á®]h7ÃìX
3

5. ZkÐItÂ^*KDÙZgÐicŠ{Å®ZŠ~•áùƒ[ìXâ^
•ÛâBž¸³mZ°9*îGä•}ZŠZŠ0Îy~Z-ZŠÎŠÆçA67
gÄ»Y^{2002YJŠg`•ÛâcåXZ•á®3åXWEZÆñµ6·9ʼnh
(žnÐZq*y>ZyLL^ZsòÅZ-Z›ÎŠÅ]z4Å Update)
eZ]I£ïZsòŒÛWyZOò s gzŠZŠóóZi»[qƒ¬¨z©™r
•ge•áïZ•á®HYg;ìX уg
Z3ÿXLD|Z]ÅY+ÐZÝoŶyŠ„Zzg4~Æaˆzm»í
lxHYñÇXZy•áYZv!
zZ?x 81øxZžZx7341| @gõ:
æk 2âÞ5102Y
ŒÛWyZOò[W!Š™Zc
²¸¸³
Y»ŠyZsò/g›0ÎyÅ@gõ»({F+ŠyåX 2002 Žy 24
âÞ 14 Zkgzi0ÎyÅ4*Ãg^äΊÆçA~zùѦ°ZªÆ
ÆŸÃ:Üs»³xŒÛZgŠcÉZ-Z›ÎŠÆZ6M'kÅèVà Y1991
!Çikz™ŠcXqÑVžŠ#èGELZsxÅx]Æ_.•ZÆZ±gÐ$F+
48 k{ÑuìTÃZv¬)%Â/Æ(Lçs7•ÛâñÇ)ZûY:Wc]
(Zzg¿ÆZ±gЕF+k{Ί~AŠ+ìÔTÆÜsZv¬ 116 Zzg
(279 ŧsÐZ´Èkì)ZÂ{:We a ZzggÎw
4*Ãg^»êÓ!ïGLz‰ÜÅpZ÷]ÆÐ_.ZzgZkŧs
Њ!ƒ»³ìXpZkÐÌicŠ{‡&ÿELZk!]tìž›*È0ÎyZzg
: !<mŠ´zèIòVŧsÐZkŸÆÜsÃð¸WZî`‚t7Wc
Y@g; V zZñ*»òO»»gzZ þþC
ÆŠwÐZˆµicVY@g; V »gzZ
4*Ãg^ÆŸÆÜsÃðZî`:ƒ*Zk!]»o]ìž
+B543ï
E
GI
GGLù¦øg~Š´)]z½!Ç%_ìX®ZZ•ð¢zg~ìž:
D›*È0ÎyÅ)]芴ÃËZgHYñ )1(
)2(DΊÆÜsZyÆŠßV~Ð]aZÅYñ
)3(DΊŶTVZzgn{»g-VÐZyÃWÇ{HYñ
D4*Ãg^~•®ÆŠzgZyZVñ‰ZyZ‹ZŸ]»ŽZ[ŠcYñ )4(
45

6. ZkÐItÂ^*KDÙZgÐicŠ{Å®ZŠ~•áùƒ[ìXâ^
•ÛâBž¸³mZ°9*îGä•}ZŠZŠ0Îy~Z-ZŠÎŠÆçA67
gÄ»Y^{2002YJŠg`•ÛâcåXZ•á®3åXWEZÆñµ6·9ʼnh
(žnÐZq*y>ZyLL^ZsòÅZ-Z›ÎŠÅ]z4Å Update)
eZ]I£ïZsòŒÛWyZOò s gzŠZŠóóZi»[qƒ¬¨z©™r
•ge•áïZ•á®HYg;ìX уg
Z3ÿXLD|Z]ÅY+ÐZÝoŶyŠ„Zzg4~Æaˆzm»í
lxHYñÇXZy•áYZv!
zZ?x 81øxZžZx7341| @gõ:
æk 2âÞ5102Y
ŒÛWyZOò[W!Š™Zc
²¸¸³
Y»ŠyZsò/g›0ÎyÅ@gõ»({F+ŠyåX 2002 Žy 24
âÞ 14 Zkgzi0ÎyÅ4*Ãg^äΊÆçA~zùѦ°ZªÆ
ÆŸÃ:Üs»³xŒÛZgŠcÉZ-Z›ÎŠÆZ6M'kÅèVà Y1991
!Çikz™ŠcXqÑVžŠ#èGELZsxÅx]Æ_.•ZÆZ±gÐ$F+
48 k{ÑuìTÃZv¬)%Â/Æ(Lçs7•ÛâñÇ)ZûY:Wc]
(Zzg¿ÆZ±gЕF+k{Ί~AŠ+ìÔTÆÜsZv¬ 116 Zzg
(279 ŧsÐZ´Èkì)ZÂ{:We a ZzggÎw
4*Ãg^»êÓ!ïGLz‰ÜÅpZ÷]ÆÐ_.ZzgZkŧs
Њ!ƒ»³ìXpZkÐÌicŠ{‡&ÿELZk!]tìž›*È0ÎyZzg
: !<mŠ´zèIòVŧsÐZkŸÆÜsÃð¸WZî`‚t7Wc
Y@g; V zZñ*»òO»»gzZ þþC
ÆŠwÐZˆµicVY@g; V »gzZ
4*Ãg^ÆŸÆÜsÃðZî`:ƒ*Zk!]»o]ìž
+B543ï
E
GI
GGLù¦øg~Š´)]z½!Ç%_ìX®ZZ•ð¢zg~ìž:
D›*È0ÎyÅ)]芴ÃËZgHYñ )1(
)2(DΊÆÜsZyÆŠßV~Ð]aZÅYñ
)3(DΊŶTVZzgn{»g-VÐZyÃWÇ{HYñ
D4*Ãg^~•®ÆŠzgZyZVñ‰ZyZ‹ZŸ]»ŽZ[ŠcYñ )4(
45

7. 2Vä¹Ðf~V~Z_gaZ™Šcì
tÂ^qgz!Ñ£œÃ&4øFG
I
LÃgnƒñ%AHŠìXZkÂ[Å»g~~
Z³}ZxZÅWy•|Ô™ZcÆ£"z@;ä8iïELfsÂ1VÐ
Z.Š{Hì:
m ÒyZÅWyZi|]ñÑ*ZÑsZåâ~ )1( ·§:
m )2(çgsZÅWyZi|]ñÑ*?·Ã
m )3(ƒZÅWyZiñÑ*¦Z1ZÑdñŠzŠ~
)4(ZŒZ#yZiñÑ*&bZ-+-Š
Ã:)1(ΊŕŠwZ‚kZi•úŠZ£%jx
)2(!k5Ïî J0ΊZzg)Ί~â1]Zi·Z™x{y
)3(0ÎyÅuÐΊÆ{8ÆaZsòÃcCñÅ
g7g^»ÜžZieZËÝsZ°Ý
m~(ZieZË·/ZyZÑs¢ã ô )4(ZsòYg~)Z
zgÎc)æ[( W »Z y )5(0Îy~¬@â1CZŠZgzV»™ŠZgZzgZ
Œœj @ ZieZË•á
Š¬ìžZv¬øg~Zy©àÃ@VÃJw•ÛâñZzg…z{Šy‚•Ûâñ
ZZsò/g›0ÎyzZªZsò•0YñXW}
£ âhZ
]I Ze Oî Z
Zc™ •|ó y MÅZxZé Z³}
Ί 0Îy~Z-Z›
»z/ZzgÓ䙊Zg
Y: 1969
Y~ZÚ 1969 ZsòxzgCñäeJ»~ZLZ°kÂ{Šc
ÆZ§g6o~gZòÂÄYg~Æ•Yg~KYäzZáŒÛçVó±8
u%ó6Z^!&ió79Ñ`Z›g÷ZYz){ÃΊ~ŒÛZgŠcZzgfYzâCÙ+6
ŒZqZ+w¯äÅ?mŠ~ÔŽ)Ί~ÂÄuƪxÆa
g•á]%A™nX
Y: 1973
~ðHŠžoÅZOŠc]ÃΊ~AŠ+ТZi¢ 38 Š2§0ÎyÅŠi
‚wƲá~ 9 0u™*gc„Å>f)ŠZg~ìXŠ2g~zZãîg6¹Šž
oÆ7g}‡âãÔçÙZzgçÑCÂxÃZsò‚‘~eJwŠcYñÇX
Y: 1977
mÃœgMYZ/äZsòÃcCñÃ)Ί~uƪxÆa 29
ZOŠc]ZzgYgzV è g•á]%A™ä»»xº!HXñä*ñgâCÙ+
g0}‡ìHTä‘zgziœ™Æg•á]%AXX 15 6ŒZq
Y: 1980
ÃZsòÃcCñäZKîg7g^œgMYZ/Ã7Åp 1980 Žy 25
ÅÃÒÐZk m Zk6¿ŠgWæ7HŠXˆZiZVeZËZuZgZ£™r
•áù™äÅZYi]Š}Š~ˆXZkg7g^»Üžœj g7g^ÃZÊ{¬xÆa
67

8. 2Vä¹Ðf~V~Z_gaZ™Šcì
tÂ^qgz!Ñ£œÃ&4øFG
I
LÃgnƒñ%AHŠìXZkÂ[Å»g~~
Z³}ZxZÅWy•|Ô™ZcÆ£"z@;ä8iïELfsÂ1VÐ
Z.Š{Hì:
m ÒyZÅWyZi|]ñÑ*ZÑsZåâ~ )1( ·§:
m )2(çgsZÅWyZi|]ñÑ*?·Ã
m )3(ƒZÅWyZiñÑ*¦Z1ZÑdñŠzŠ~
)4(ZŒZ#yZiñÑ*&bZ-+-Š
Ã:)1(ΊŕŠwZ‚kZi•úŠZ£%jx
)2(!k5Ïî J0ΊZzg)Ί~â1]Zi·Z™x{y
)3(0ÎyÅuÐΊÆ{8ÆaZsòÃcCñÅ
g7g^»ÜžZieZËÝsZ°Ý
m~(ZieZË·/ZyZÑs¢ã ô )4(ZsòYg~)Z
zgÎc)æ[( W »Z y )5(0Îy~¬@â1CZŠZgzV»™ŠZgZzgZ
Œœj @ ZieZË•á
Š¬ìžZv¬øg~Zy©àÃ@VÃJw•ÛâñZzg…z{Šy‚•Ûâñ
ZZsò/g›0ÎyzZªZsò•0YñXW}
£ âhZ
]I Ze Oî Z
Zc™ •|ó y MÅZxZé Z³}
Ί 0Îy~Z-Z›
»z/ZzgÓ䙊Zg
Y: 1969
Y~ZÚ 1969 ZsòxzgCñäeJ»~ZLZ°kÂ{Šc
ÆZ§g6o~gZòÂÄYg~Æ•Yg~KYäzZáŒÛçVó±8
u%ó6Z^!&ió79Ñ`Z›g÷ZYz){ÃΊ~ŒÛZgŠcZzgfYzâCÙ+6
ŒZqZ+w¯äÅ?mŠ~ÔŽ)Ί~ÂÄuƪxÆa
g•á]%A™nX
Y: 1973
~ðHŠžoÅZOŠc]ÃΊ~AŠ+ТZi¢ 38 Š2§0ÎyÅŠi
‚wƲá~ 9 0u™*gc„Å>f)ŠZg~ìXŠ2g~zZãîg6¹Šž
oÆ7g}‡âãÔçÙZzgçÑCÂxÃZsò‚‘~eJwŠcYñÇX
Y: 1977
mÃœgMYZ/äZsòÃcCñÃ)Ί~uƪxÆa 29
ZOŠc]ZzgYgzV è g•á]%A™ä»»xº!HXñä*ñgâCÙ+
g0}‡ìHTä‘zgziœ™Æg•á]%AXX 15 6ŒZq
Y: 1980
ÃZsòÃcCñäZKîg7g^œgMYZ/Ã7Åp 1980 Žy 25
ÅÃÒÐZk m Zk6¿ŠgWæ7HŠXˆZiZVeZËZuZgZ£™r
•áù™äÅZYi]Š}Š~ˆXZkg7g^»Üžœj g7g^ÃZÊ{¬xÆa
67

9. R†)ZºZ0gÒó854ÇgeyZÆó4Š´au™Zc(ä•áùHX
Y: 1981
o~zùѦ°Zª‡ìňpt0È~Ί~ˆžŠk‚wJoÆâà
ç5]°ZªÆŠZ]{»gÐ!CÙg•ÐX
3ÂVÆ*xÐÂx‡ìH PLS ΊƕŠwÆîg6¶V~âguZZzg
ŠÔ&fY™ZxäΊ„ÅZqßg]ŒÛZgŠcX
Y: 1988
YÃœgMYZ/äΣÑ<Wge¼Æfg)ZqZsò 1988 Žy 15
uz‡ìHZzg6zWeZËZˆygæ)‚.zZõe·™Zc-Eg;(Ã
Zkz»u'Z{HgHŠXZkzäZq‚wJ»xH1"nyÆ
Šz§Ó#Ö~ZkWge¼ÃZÔ~77HŠZzgtzÌ»ƒŠX
:1991
âZiÑpƬÐZqw6zWpgæZ£Åu'Z„~)±ŒÛçVЕ]
ZzgpŠZ®g~Æa‡ìňÔTäZq¾²á~{™»x™ÆZK
YÃ7ÅX 1991 Z6s 10 g7g^
YÃâZiÑpÓ#Öä±uÃZsòeJ‘~eJ%Æ 1991 #11
aÍg3ZÚÅu'Z„~Zqz‡ìHXZkzä{™»xH1Q
"nyÆŠzu}Šz§Ó#Ö~Zkz»»xV»DgƒŠX
âZiÑpäZLZk¬Šz§Ó#Ö~ñÑ*†Zyg{y*i~ŪŠ]~
ZqwÃ)Ί~uÆag•á]%A™ä»»xÎxXZkwäÌ
ZK%A™Š{g•á]7XX
=ÝsZ°ÝÅu'Z„~îs YÃzùѦ°Zªä 1991 âÞ 14
ŒÛZgŠcZzgÓ#ÖÃbâ{ÅúŠ~ …eF³ç] à Bank Interest •®ƈ
@žz{±uÃΊÐ0u™Š}X°Zª~•®ÆŠzgZyoÆŸi
âCÙ#èGELuÔz¯YZzgfY7ƒñX
âZiÑpÓ#ÖäzùѦ°ZªÆŸÆÜs4*Ãg^~ZhŠZ]
™Š~ZzgZŒWJ‚wJZkZhÅ•®Ì:ƒm®ZçnV»Dgg;X
Y: 1997
Æm xV·âZiÑpäZLzZ-HxÆ_Z{!ã^ZsòeZËZuZgZ£
‚BŒÛWyZOòуg~5‡]ÆŠzgZyZyÆÂzŠÑä6ΊƢ
{8»z°{HX
YÃzikZWâZiÑpÓ#ÖäoÐΊÆ{8Æ 1997 •Ûzg~ 23
;Z/Åu'Z„~Zqw‡ìÅTä{™»xH@ëiZŠZâ] agZz
ŧs7gÄ:ƒmX
Y: 1999
YÆŸÆÜs 1991 4*Ãg^ÅÑ<Z"5Òï FGH±äzùѦ°ZªÆ
YÃÓ#ÖÅZhÚŠ™D 1999 Šc23 ŠZ]™Š{ÓäZhÅ•®ÅZzg
Žy 30 ƒñzùѦ°ZªÆŸÅÂ}ÅZzgÓ#ÖÃ{'*î
G
0ΊÆa
gZiŠZg~ÐZkŸÆÜsZqu»g~ YJÅúŠ~XÓ#Öä 2001
ŠZ]™Š~X UãÅZh è Æfg=à UBLš
Y: 2001
^ÐΊ~uÆ{ØÆa Æfg)4*Ãg UBL Ó#Öä Žy~
'×húÔÅZzg4*Ãg^äÓ#ÖÃ'×hZq‚wÅúŠ}Š~X
89

10. R†)ZºZ0gÒó854ÇgeyZÆó4Š´au™Zc(ä•áùHX
Y: 1981
o~zùѦ°Zª‡ìňpt0È~Ί~ˆžŠk‚wJoÆâà
ç5]°ZªÆŠZ]{»gÐ!CÙg•ÐX
3ÂVÆ*xÐÂx‡ìH PLS ΊƕŠwÆîg6¶V~âguZZzg
ŠÔ&fY™ZxäΊ„ÅZqßg]ŒÛZgŠcX
Y: 1988
YÃœgMYZ/äΣÑ<Wge¼Æfg)ZqZsò 1988 Žy 15
uz‡ìHZzg6zWeZËZˆygæ)‚.zZõe·™Zc-Eg;(Ã
Zkz»u'Z{HgHŠXZkzäZq‚wJ»xH1"nyÆ
Šz§Ó#Ö~ZkWge¼ÃZÔ~77HŠZzgtzÌ»ƒŠX
:1991
âZiÑpƬÐZqw6zWpgæZ£Åu'Z„~)±ŒÛçVЕ]
ZzgpŠZ®g~Æa‡ìňÔTäZq¾²á~{™»x™ÆZK
YÃ7ÅX 1991 Z6s 10 g7g^
YÃâZiÑpÓ#Öä±uÃZsòeJ‘~eJ%Æ 1991 #11
aÍg3ZÚÅu'Z„~Zqz‡ìHXZkzä{™»xH1Q
"nyÆŠzu}Šz§Ó#Ö~Zkz»»xV»DgƒŠX
âZiÑpäZLZk¬Šz§Ó#Ö~ñÑ*†Zyg{y*i~ŪŠ]~
ZqwÃ)Ί~uÆag•á]%A™ä»»xÎxXZkwäÌ
ZK%A™Š{g•á]7XX
=ÝsZ°ÝÅu'Z„~îs YÃzùѦ°Zªä 1991 âÞ 14
ŒÛZgŠcZzgÓ#ÖÃbâ{ÅúŠ~ …eF³ç] à Bank Interest •®ƈ
@žz{±uÃΊÐ0u™Š}X°Zª~•®ÆŠzgZyoÆŸi
âCÙ#èGELuÔz¯YZzgfY7ƒñX
âZiÑpÓ#ÖäzùѦ°ZªÆŸÆÜs4*Ãg^~ZhŠZ]
™Š~ZzgZŒWJ‚wJZkZhÅ•®Ì:ƒm®ZçnV»Dgg;X
Y: 1997
Æm xV·âZiÑpäZLzZ-HxÆ_Z{!ã^ZsòeZËZuZgZ£
‚BŒÛWyZOòуg~5‡]ÆŠzgZyZyÆÂzŠÑä6ΊƢ
{8»z°{HX
YÃzikZWâZiÑpÓ#ÖäoÐΊÆ{8Æ 1997 •Ûzg~ 23
;Z/Åu'Z„~Zqw‡ìÅTä{™»xH@ëiZŠZâ] agZz
ŧs7gÄ:ƒmX
Y: 1999
YÆŸÆÜs 1991 4*Ãg^ÅÑ<Z"5Òï FGH±äzùѦ°ZªÆ
YÃÓ#ÖÅZhÚŠ™D 1999 Šc23 ŠZ]™Š{ÓäZhÅ•®ÅZzg
Žy 30 ƒñzùѦ°ZªÆŸÅÂ}ÅZzgÓ#ÖÃ{'*î
G
0ΊÆa
gZiŠZg~ÐZkŸÆÜsZqu»g~ YJÅúŠ~XÓ#Öä 2001
ŠZ]™Š~X UãÅZh è Æfg=à UBLš
Y: 2001
^ÐΊ~uÆ{ØÆa Æfg)4*Ãg UBL Ó#Öä Žy~
'×húÔÅZzg4*Ãg^äÓ#ÖÃ'×hZq‚wÅúŠ}Š~X
89

11. :Y2002
zzL¾wWs0ÎyäZkÓäñ•»ZÖgHžZ[ i #ÆZzZb~Z
7 …eFç] Ã Bank Interest Ó#ÖZ,fYÅWgZYÐZ.Š{™}ÏŽ
äZkñ•6øèfsZ¶g~Z3gÆfg= m BXeZËZuZgZ£™r
ZLgáLO¿»ZÖgH:
LLZqY+¸gCZ¯Z`øg~uuzV69~•Zzg"@!Æ‚Bç
Ƭ»ZOg™g„•ÔZzgŠzu~Y+øg~Ó#ÖZv¬ZzggÎw~
Æ‚BkÃYg~gpÆa-5eBÎag„ìóó!!!
ŸVäuu~•®ƈÑ< PCO YÃ4*Ãg^Æ 2002 BŽy 24
Z"5Ò3ï FGGH±Æ@gõ‚iŸÃ»³xŒÛZgŠïƒñçnŠz!g{zùѦ°ZªÃ{ZŠcX
:Y2012 Y@2002/
‚wJzùѦ°Zª~ZkZëRÅ•®Åâ"7WðX 10
Y: 2013
^ZsòäzùѦ°Zª~Ίû™äÆaŠgpZ„ŠZ]Åtçn
ZÌJzùѦ°Zª~@í»DgìX
ÅÎŠÆ s Y:4*Ãg^ä^ZsòÆZ÷qƒ¬–G™r 2015
{8ÅWñŠgpZ„tÈ™{g`™Š~žçnzùѦ°Zª~ik•®
ìÔÃåQätgZg¾ÌŠbžŽÎŠ7¢eT:BZzgŽÎŠágì
!!! ]Þ^Ö×äæ]Þ^]Önä…]qÃçá •ÔZyÃZv7iÇX
Hì? …eFç]
ŒÛWÈœ~~Zg•á›!g~¬ì:
(279 Îg{•{We ) óó æø]ôá»iöf»jöÜ»Êø×øÓöÜ»…öðö滌ö]øÚ»çø]ÖôÓöÜ» LL
(óó Principal LLZzgZ¤?)ΊÐ(!iWYƒÂvg}aìvgZZÝâw)
»Zg•áŠì: a Ñ™*
( çgsZÅWy .fZ! ìZ Î )Z ÒöØ%Îø†»šõqø†$Úøß»ËøÃøè÷Êøãöçø…ôeFç]XX LL
XX ì …ôeFç] LLŒÛn61ŠZŸ†
Å°p-VÒyÅì: …ôeFç] ZkW"ìGGLŒÛWãZzgZg•á›t~ÅgzÝ~•Yä
ZZâöçø]Ö»Ïø†»šö]Ö»ÛøŽ»†ö滽öÊôn»äô]Ÿ»øqøØöæø‡ômø^•øéöÚø^ÙõÂø×øo
( )Z©xZÅWyZiZâx8}é EOm ]Ö»ÛöŠ»jøÏ»†ôšôXX
LLZ(ŒÛnŽË•ŠÆaZkÑo6ŠcYñžHznZkÃZÝâw
óó ~ZŸ†Æ‚BZŠZ™}Ç
1011
YJŠg`•ÛcåXZ[ª 2002 ä•}ZŠZŠ0Îy~Z-ZŠÎŠÆjZáÐ7gÄ»Y^{ m /¸³
(žnÐÂaÆZ!x6Zqe Update Y~Z•á®]hÆñµ6·9Zzg'×h7gÄʼnh) 2015
•áùHYg;ìÔŽZ¹qƒ¬¨z©™ræØ)eZ]I%ïZsòÔŒÛWyZOòÔуg(»"™Š{*y
YÅZ•á®~•áùƒ[ìX)ZŠZg{( 2015 |_.âÞ 1437 ìÔt*yâx)xÐtуg!"øx

12. :Y2002
zzL¾wWs0ÎyäZkÓäñ•»ZÖgHžZ[ i #ÆZzZb~Z
7 …eFç] Ã Bank Interest Ó#ÖZ,fYÅWgZYÐZ.Š{™}ÏŽ
äZkñ•6øèfsZ¶g~Z3gÆfg= m BXeZËZuZgZ£™r
ZLgáLO¿»ZÖgH:
LLZqY+¸gCZ¯Z`øg~uuzV69~•Zzg"@!Æ‚Bç
Ƭ»ZOg™g„•ÔZzgŠzu~Y+øg~Ó#ÖZv¬ZzggÎw~
Æ‚BkÃYg~gpÆa-5eBÎag„ìóó!!!
ŸVäuu~•®ƈÑ< PCO YÃ4*Ãg^Æ 2002 BŽy 24
Z"5Ò3ï FGGH±Æ@gõ‚iŸÃ»³xŒÛZgŠïƒñçnŠz!g{zùѦ°ZªÃ{ZŠcX
:Y2012 Y@2002/
‚wJzùѦ°Zª~ZkZëRÅ•®Åâ"7WðX 10
Y: 2013
^ZsòäzùѦ°Zª~Ίû™äÆaŠgpZ„ŠZ]Åtçn
ZÌJzùѦ°Zª~@í»DgìX
ÅÎŠÆ s Y:4*Ãg^ä^ZsòÆZ÷qƒ¬–G™r 2015
{8ÅWñŠgpZ„tÈ™{g`™Š~žçnzùѦ°Zª~ik•®
ìÔÃåQätgZg¾ÌŠbžŽÎŠ7¢eT:BZzgŽÎŠágì
!!! ]Þ^Ö×äæ]Þ^]Önä…]qÃçá •ÔZyÃZv7iÇX
Hì? …eFç]
ŒÛWÈœ~~Zg•á›!g~¬ì:
(279 Îg{•{We ) óó æø]ôá»iöf»jöÜ»Êø×øÓöÜ»…öðö滌ö]øÚ»çø]ÖôÓöÜ» LL
(óó Principal LLZzgZ¤?)ΊÐ(!iWYƒÂvg}aìvgZZÝâw)
»Zg•áŠì: a Ñ™*
( çgsZÅWy .fZ! ìZ Î )Z ÒöØ%Îø†»šõqø†$Úøß»ËøÃøè÷Êøãöçø…ôeFç]XX LL
XX ì …ôeFç] LLŒÛn61ŠZŸ†
Å°p-VÒyÅì: …ôeFç] ZkW"ìGGLŒÛWãZzgZg•á›t~ÅgzÝ~•Yä
ZZâöçø]Ö»Ïø†»šö]Ö»ÛøŽ»†ö滽öÊôn»äô]Ÿ»øqøØöæø‡ômø^•øéöÚø^ÙõÂø×øo
( )Z©xZÅWyZiZâx8}é EOm ]Ö»ÛöŠ»jøÏ»†ôšôXX
LLZ(ŒÛnŽË•ŠÆaZkÑo6ŠcYñžHznZkÃZÝâw
óó ~ZŸ†Æ‚BZŠZ™}Ç
1011
YJŠg`•ÛcåXZ[ª 2002 ä•}ZŠZŠ0Îy~Z-ZŠÎŠÆjZáÐ7gÄ»Y^{ m /¸³
(žnÐÂaÆZ!x6Zqe Update Y~Z•á®]hÆñµ6·9Zzg'×h7gÄʼnh) 2015
•áùHYg;ìÔŽZ¹qƒ¬¨z©™ræØ)eZ]I%ïZsòÔŒÛWyZOòÔуg(»"™Š{*y
YÅZ•á®~•áùƒ[ìX)ZŠZg{( 2015 |_.âÞ 1437 ìÔt*yâx)xÐtуg!"øx

13. w!ïGLΊ
Wc‹ŒÛW6ÅgzÝ~
t~ 6 4zw: 39 DÎg>Z°zxWe: 1
t ]øÚ»çø]Ùô]Öß$^ŒôÊø¡ømø†»eöç»]Âôß»‚ø]Ö×#äô ? æøÚø«!iøn»jöÜ»Úôùà»…ôùe÷^Öôùnø†»eöçø]Êôo»
O æøÚø«!iøn»jöÜ»Úôù໇øÒFçéõiö†ôm»‚öæ»áøæøq»äø]Ö×#äôÊø^öæÖ5òôÔøâöÜö]Ö»Ûö–»ÃôËöç»áø
FÀ:LL?ŽâwŠïƒÎŠ6ž(kgìßÍVÆâw~óÎz{7(kZv
Æ;VZzgŽŠïƒi2>Æîg6@žZvÅgŸqÝ™zÂZ,
âw(_g•ÐóóX
ó~ 3 4zw: 130 Îg{WÁ/ZyWe: I 2
æø]i$Ïöç]]Ö×#äø ” m5^]øm%ãø^]Ö$„ôm»àø!Úøßöç»]Ÿøiø^»Òö×öç]]Ö†ôùe5ç]]ø•»Ãø^Ê÷^Ú%–FÃøËøè÷
O ]öÂô‚$l»Öô×»Óø^Êô†ôm»àø ? æø]i$Ïöç]]Öß$^…ø]Ö$jôo» O ÖøÃø×$ÓöÜ»iöË»×ôvöç»áø
FÀ:LLZ}ZZyzZß#Ö3ƒÎŠÔ(kmkZzgZvÅ*•ÛâãД@ž?
»x[ƒjX”QkWvÐŽ»gň컕ÛzVÆaóóX
ó~ 5 4zw: 161 - 160 Îg>ZûYWc]: I3
Êøfô¿ö×»ÜõÚôùàø]Ö$„ôm»àøâø^•öæ»]uø†$Ú»ßø^Âø×øn»ãôÜ»›ønôùfFkõ]öuô×$k»ÖøãöÜ»
æø]ø컄ôâôÜö]Ö†ôùeFç]æøÎø‚»Þöãöç»]Âøß»äöæø]øÒ»×ôãôÜ» O Âø້øfôn»Øô]Ö×#äôÒø%ôn»†÷] âôÜ» æøeô’ø‚ôù
O æø]ø»jø‚»Þø^Öô×»ÓFËô†ôm»àøÚôß»ãöÜ»Âø„ø]e÷^]øÖôn»Û÷^ ½ ]øÚ»çø]Ùø]Öß$^Œôeô^Ö»fø^›ôØô
FÀ:LL:·ŠÆÕÅzzÐëäZy60À{q,wZxXŽ¬Zy6
'w‰ZzgZkzzОz{ZvÆgZ5Ðgzȸ¹icŠ{Zzg
ZkzzОΊf¸qÑVžQyÃZkÐIHŠåZzgZkzzÐ
žßÍV»âw3D¸*hZzg»g™g3ëäZy~Ð
»•ÛzVÆaŠgŠ*u±Z[óóX
ó~ 9 4zw: 276 - 275 Îg>ZÂ{Wc]: I 4
]øÖ$„ôm»àømø^»Òö×öç»áø]Ö†ôùeFç]ŸømøÏöç»Úöç»áø]ôŸ$ÒøÛø^møÏöç»Ýö]Ö$„ôp»møjøíøf$_öäö]ÖŽ$n»_6àö
ƒø]ÖôÔøeô^øÞ$ãöÜ»Îø^Öö绕]ôÞ$Ûø^]Ö»føn»ÄöÚô%»Øö]Ö†ôùeFç]æø]øuøØ$]Ö×#äö ½ Úôà»]Ö»Ûø‹ôù
½ ÊøÛøà»qø«ðøåüÚøç»Âô¿øèºÚôùà»…$eôùä´Êø^Þ»jøãFoÊø×øäüÚø^‰ø×øÌø ½ ]Ö»føn»Äøæøuø†$Ýø]Ö†ôùeFç]
O æøÚøà»Âø^•øÊø^öæÖ5òôÔø]ø‘»vFgö]Öß$^…ôâöÜ»Êôn»ãø^ìF×ô‚öæ»áø ½ æø]øÚ»†öåü]ôÖøo]Ö×#äô
O æø]Ö×#äöŸømövôg%ÒöØ$ÒøË$^…õ]ø$ôn»Üõ ½ møÛ»vøÐö]Ö×#äö]Ö†ôùeFç]æømö†»eôo]Ö’$‚øÎFkô
FÀ:LLŽßvΊ3D•z{7QžÐ)gz¯ª#Ö(1T§b
QÞìz{¿TÆjZkÅŠbƒV-yäf™XtqªZyÅ
ZkzzЃðžz{븈g]ÌÂZ+„ì‰ÎŠ¢XqÑVž
ä'wHìˆg]ÃZzgwZxHìΊÃXQTÃâtÃZkÆ Zv
g[ŧsÐZzgz{!iWŠÂZkÆa쎬á[ZzgZk»
çnZvÆjZáìZzgŽÃðQΊáÇÔz„ßv•ŠziczZáz{
Zk~g•ÐåXS@ìZvΊÃZzg(J@ìZvíZ]ÃZzgZvI
7™@*]¦Zg~™äzZák{ÇgÃóóX
1213

14. w!ïGLΊ
Wc‹ŒÛW6ÅgzÝ~
t~ 6 4zw: 39 DÎg>Z°zxWe: 1
t ]øÚ»çø]Ùô]Öß$^ŒôÊø¡ømø†»eöç»]Âôß»‚ø]Ö×#äô ? æøÚø«!iøn»jöÜ»Úôùà»…ôùe÷^Öôùnø†»eöçø]Êôo»
O æøÚø«!iøn»jöÜ»Úôù໇øÒFçéõiö†ôm»‚öæ»áøæøq»äø]Ö×#äôÊø^öæÖ5òôÔøâöÜö]Ö»Ûö–»ÃôËöç»áø
FÀ:LL?ŽâwŠïƒÎŠ6ž(kgìßÍVÆâw~óÎz{7(kZv
Æ;VZzgŽŠïƒi2>Æîg6@žZvÅgŸqÝ™zÂZ,
âw(_g•ÐóóX
ó~ 3 4zw: 130 Îg{WÁ/ZyWe: I 2
æø]i$Ïöç]]Ö×#äø ” m5^]øm%ãø^]Ö$„ôm»àø!Úøßöç»]Ÿøiø^»Òö×öç]]Ö†ôùe5ç]]ø•»Ãø^Ê÷^Ú%–FÃøËøè÷
O ]öÂô‚$l»Öô×»Óø^Êô†ôm»àø ? æø]i$Ïöç]]Öß$^…ø]Ö$jôo» O ÖøÃø×$ÓöÜ»iöË»×ôvöç»áø
FÀ:LLZ}ZZyzZß#Ö3ƒÎŠÔ(kmkZzgZvÅ*•ÛâãД@ž?
»x[ƒjX”QkWvÐŽ»gň컕ÛzVÆaóóX
ó~ 5 4zw: 161 - 160 Îg>ZûYWc]: I3
Êøfô¿ö×»ÜõÚôùàø]Ö$„ôm»àøâø^•öæ»]uø†$Ú»ßø^Âø×øn»ãôÜ»›ønôùfFkõ]öuô×$k»ÖøãöÜ»
æø]ø컄ôâôÜö]Ö†ôùeFç]æøÎø‚»Þöãöç»]Âøß»äöæø]øÒ»×ôãôÜ» O Âø້øfôn»Øô]Ö×#äôÒø%ôn»†÷] âôÜ» æøeô’ø‚ôù
O æø]ø»jø‚»Þø^Öô×»ÓFËô†ôm»àøÚôß»ãöÜ»Âø„ø]e÷^]øÖôn»Û÷^ ½ ]øÚ»çø]Ùø]Öß$^Œôeô^Ö»fø^›ôØô
FÀ:LL:·ŠÆÕÅzzÐëäZy60À{q,wZxXŽ¬Zy6
'w‰ZzgZkzzОz{ZvÆgZ5Ðgzȸ¹icŠ{Zzg
ZkzzОΊf¸qÑVžQyÃZkÐIHŠåZzgZkzzÐ
žßÍV»âw3D¸*hZzg»g™g3ëäZy~Ð
»•ÛzVÆaŠgŠ*u±Z[óóX
ó~ 9 4zw: 276 - 275 Îg>ZÂ{Wc]: I 4
]øÖ$„ôm»àømø^»Òö×öç»áø]Ö†ôùeFç]ŸømøÏöç»Úöç»áø]ôŸ$ÒøÛø^møÏöç»Ýö]Ö$„ôp»møjøíøf$_öäö]ÖŽ$n»_6àö
ƒø]ÖôÔøeô^øÞ$ãöÜ»Îø^Öö绕]ôÞ$Ûø^]Ö»føn»ÄöÚô%»Øö]Ö†ôùeFç]æø]øuøØ$]Ö×#äö ½ Úôà»]Ö»Ûø‹ôù
½ ÊøÛøà»qø«ðøåüÚøç»Âô¿øèºÚôùà»…$eôùä´Êø^Þ»jøãFoÊø×øäüÚø^‰ø×øÌø ½ ]Ö»føn»Äøæøuø†$Ýø]Ö†ôùeFç]
O æøÚøà»Âø^•øÊø^öæÖ5òôÔø]ø‘»vFgö]Öß$^…ôâöÜ»Êôn»ãø^ìF×ô‚öæ»áø ½ æø]øÚ»†öåü]ôÖøo]Ö×#äô
O æø]Ö×#äöŸømövôg%ÒöØ$ÒøË$^…õ]ø$ôn»Üõ ½ møÛ»vøÐö]Ö×#äö]Ö†ôùeFç]æømö†»eôo]Ö’$‚øÎFkô
FÀ:LLŽßvΊ3D•z{7QžÐ)gz¯ª#Ö(1T§b
QÞìz{¿TÆjZkÅŠbƒV-yäf™XtqªZyÅ
ZkzzЃðžz{븈g]ÌÂZ+„ì‰ÎŠ¢XqÑVž
ä'wHìˆg]ÃZzgwZxHìΊÃXQTÃâtÃZkÆ Zv
g[ŧsÐZzgz{!iWŠÂZkÆa쎬á[ZzgZk»
çnZvÆjZáìZzgŽÃðQΊáÇÔz„ßv•ŠziczZáz{
Zk~g•ÐåXS@ìZvΊÃZzg(J@ìZvíZ]ÃZzgZvI
7™@*]¦Zg~™äzZák{ÇgÃóóX
1213

15. ó~ 9 4zw: 281 - 278 Îg>ZÂ{Wc]: I 5
O m5^]øm%ãø^]Ö$„ôm»àø!Úøßöç]]i$Ïöç]]Ö×#äøæøƒø…öæ»]Úø^eøÏôoøÚôàø]Ö†ôùeFç]]ôá»Òöß»jöÜ»Ú%ç,Úôßôn»àø
æø]ôá»iöf»jöÜ»Êø×øÓöÜ»…öðö滌ö t Êø^ôá»Ö$Ü»iøË»Ãø×öç»]Êø^»ƒøÞöç»]eôvø†»hõÚôùàø]Ö×#äôæø…ø‰öç»Öôä´
æø]ôá»Òø^áøƒöæ»]ÂöŠ»†øéõÊøßø¿ô†øéº O Ÿøiø¿»×ôÛöç»áøæøŸøiö¿»×øÛöç»áø t ]øÚ»çø]ÖôÓöÜ»
æø]i$Ïöç»]møç»Ú÷^ O æø]øá»iø’ø‚$Îöç»]ìøn»†ºÖ$ÓöÜ»]ôá»Òöß»jöÜ»iøû×øÛöç»áø ½ ]ôÖFoÚøn»Šø†øéõ
O iö†»qøÃöç»áøÊôn»äô]ôÖøo]Ö×#äô$öÜ$iöçøÊ#oÒöØ%ÞøË»‹õÚ$^ÒøŠøføk»æøâöÜ»Ÿømö¿»×øÛöç»áø
FÀ:LLZ}ZZyzZßZvÐegzZzgghŠzŽ¼ÎŠ~Ð!¹g{ŠìZ¤
?ñðƒXQZ¤7ghD»gƒYƒ±äÃZvZzgZkÆgÎwÐ
ZzgZ¤Â/™DƒÂvg}aìvgZZÝâwX:?Ë6Õ™zZzg:
Ãð?6Õ™}XZ¤Hznߊ„ìÂúŠ´ecœªƒä
JZzgjŠzÂt4ìvg}aZ¤?õXZzgegDgƒZkŠyÐ
TŠyßNñYƒÐZvŧsXQ7gZ7gZ$!Š}ŠcYñÇCÙ¿Ã
Qk»ŽQkä¾cZzgQy6Õ:ƒÇóóX
w!ïGLΊ
ZqŠgIgžÅgzÝ~
!Òô³Øø]Ö³†ôùeF³ç]æøÚöç»Òô×øäüæøÒø^iôføäü ] (Îø³^ÙøÖøÃøàø…ø‰öç»Ùö]²ô ” Âø³à»qø^eô†õ I1
EÚŠ×ÜD æø•ø^âô‚øm»äôæøÎø^ÙøâöÜ»‰øçø]ðº
äÒ ~ ÐgzZeìë•gÎwZv h FÀ:LL|]Y'
Æ ÎŠhZzg3äzZá6ZzgΊŠ¶ZzgîäzZá6ZzgZk •Ûâð
ä•Ûâc)k{ÅÑ•~( a ÆÍZƒV6ZzgW ™zZá6ZzgZk
tƒ'Z'•óóX
]øÖ³†ôùeFç]‰øf»Ãöç»áøuöç»e÷^]øm»Šø†öâø^ ] Îø^ÙøÎø^Ùø…ø‰öç»Ùö]²ô ” Âøà»]øeôoâö†øm»†øéø I 2
]øá»m$ß»Óôxø]Ö†$qöØö]öÚ$äüE]eàÚ^qäD
ä•ÛâcΊ a ÐgzZeìë•ZvÆgÎw h FÀ:LL|]Z1CÙk{
‰ZKâVÆ‚B Zy~ZŠÌZzg©àZ(ì pg~Æk{Æ,{•
ì»Ñ™*óóX
•ô…»âø³Üö…ôe÷^m$^»Òö×öäö ] Îø³^ÙøÎø^Ùø…ø‰öç»Ùö]Ö×#äô ” Âø³à»Âøf»³‚ô]Ö×#äôe»àôuøß»¿ø×øèø D3
]Ö†$qöØöæøâöçømøû×øÜö]ø•ø‚%Úô້ôj$èõæ$$ø×F%ôn»àø‡ôÞôn$è÷EÚŠß‚]uÛ‚D
ä•ÛâcžÎŠ a ë•žgÎwZv h FÀ:LL|]†Zv083ŒÏî
EE
»ZqŠgëTÃWŠòYy1ú™3@ìÔ¤!gi*ÐicŠ{k{g‚
ìóóX
1415

16. ó~ 9 4zw: 281 - 278 Îg>ZÂ{Wc]: I 5
O m5^]øm%ãø^]Ö$„ôm»àø!Úøßöç]]i$Ïöç]]Ö×#äøæøƒø…öæ»]Úø^eøÏôoøÚôàø]Ö†ôùeFç]]ôá»Òöß»jöÜ»Ú%ç,Úôßôn»àø
æø]ôá»iöf»jöÜ»Êø×øÓöÜ»…öðö滌ö t Êø^ôá»Ö$Ü»iøË»Ãø×öç»]Êø^»ƒøÞöç»]eôvø†»hõÚôùàø]Ö×#äôæø…ø‰öç»Öôä´
æø]ôá»Òø^áøƒöæ»]ÂöŠ»†øéõÊøßø¿ô†øéº O Ÿøiø¿»×ôÛöç»áøæøŸøiö¿»×øÛöç»áø t ]øÚ»çø]ÖôÓöÜ»
æø]i$Ïöç»]møç»Ú÷^ O æø]øá»iø’ø‚$Îöç»]ìøn»†ºÖ$ÓöÜ»]ôá»Òöß»jöÜ»iøû×øÛöç»áø ½ ]ôÖFoÚøn»Šø†øéõ
O iö†»qøÃöç»áøÊôn»äô]ôÖøo]Ö×#äô$öÜ$iöçøÊ#oÒöØ%ÞøË»‹õÚ$^ÒøŠøføk»æøâöÜ»Ÿømö¿»×øÛöç»áø
FÀ:LLZ}ZZyzZßZvÐegzZzgghŠzŽ¼ÎŠ~Ð!¹g{ŠìZ¤
?ñðƒXQZ¤7ghD»gƒYƒ±äÃZvZzgZkÆgÎwÐ
ZzgZ¤Â/™DƒÂvg}aìvgZZÝâwX:?Ë6Õ™zZzg:
Ãð?6Õ™}XZ¤Hznߊ„ìÂúŠ´ecœªƒä
JZzgjŠzÂt4ìvg}aZ¤?õXZzgegDgƒZkŠyÐ
TŠyßNñYƒÐZvŧsXQ7gZ7gZ$!Š}ŠcYñÇCÙ¿Ã
Qk»ŽQkä¾cZzgQy6Õ:ƒÇóóX
w!ïGLΊ
ZqŠgIgžÅgzÝ~
!Òô³Øø]Ö³†ôùeF³ç]æøÚöç»Òô×øäüæøÒø^iôføäü ] (Îø³^ÙøÖøÃøàø…ø‰öç»Ùö]²ô ” Âø³à»qø^eô†õ I1
EÚŠ×ÜD æø•ø^âô‚øm»äôæøÎø^ÙøâöÜ»‰øçø]ðº
äÒ ~ ÐgzZeìë•gÎwZv h FÀ:LL|]Y'
Æ ÎŠhZzg3äzZá6ZzgΊŠ¶ZzgîäzZá6ZzgZk •Ûâð
ä•Ûâc)k{ÅÑ•~( a ÆÍZƒV6ZzgW ™zZá6ZzgZk
tƒ'Z'•óóX
]øÖ³†ôùeFç]‰øf»Ãöç»áøuöç»e÷^]øm»Šø†öâø^ ] Îø^ÙøÎø^Ùø…ø‰öç»Ùö]²ô ” Âøà»]øeôoâö†øm»†øéø I 2
]øá»m$ß»Óôxø]Ö†$qöØö]öÚ$äüE]eàÚ^qäD
ä•ÛâcΊ a ÐgzZeìë•ZvÆgÎw h FÀ:LL|]Z1CÙk{
‰ZKâVÆ‚B Zy~ZŠÌZzg©àZ(ì pg~Æk{Æ,{•
ì»Ñ™*óóX
•ô…»âø³Üö…ôe÷^m$^»Òö×öäö ] Îø³^ÙøÎø^Ùø…ø‰öç»Ùö]Ö×#äô ” Âø³à»Âøf»³‚ô]Ö×#äôe»àôuøß»¿ø×øèø D3
]Ö†$qöØöæøâöçømøû×øÜö]ø•ø‚%Úô້ôj$èõæ$$ø×F%ôn»àø‡ôÞôn$è÷EÚŠß‚]uÛ‚D
ä•ÛâcžÎŠ a ë•žgÎwZv h FÀ:LL|]†Zv083ŒÏî
EE
»ZqŠgëTÃWŠòYy1ú™3@ìÔ¤!gi*ÐicŠ{k{g‚
ìóóX
1415

17. ZZ]ôq»jøßôföç]]ÖŠ$f»Äø]ÖÛöç»eôÏø^lôXX ] Îø^Ùø…ø‰öç»Ùö]²ô Îø^Ùø ” Âøà»]øeôoâö†øm»†øéø I 4
Îø³^ÙøZZ]øÖŽôù†»Õöeô^²ôXXæø]ÖŠôùv»†öæøÎøj»Øö]Öß$Ë»‹ø ? Îø³^Ööç]mø^…ø‰öçÙø]²ôæøÚø^âöà$
]Ö$jô³o»uø³†$Ýø]²ö]ôŸ$eô³^Ö»³vø³Ðôùæø]øÒ»³Øö]Ö†ôùeFç]æø]øÒ»ØöÚø^Ùø]Ö»nøjôn»Üôæø]Öj$çøÖôùomøç»Ýø
]Öˆ$u»ÌôæøÎø„»Íö]Ö»Ûöv»’øßø^lô]Ö»Çø^Êô¡ølô]Ö»Ûöç,Úôßø^lôEÚŠ×ÜD
ä•Ûâc a ÐgzZeìë•ZvÆgÎw h FÀ:LL|]Z1CÙk{
z{ÃyÐ a ‚]$Zzgn{ÁkƒVДZrVä7YcgÎwZv!
ZzgYŠz™* äZg•áŠ•ÛâcZvÆ‚BËÃÑq™* a ‚]k{•?W
Zzg)ZKYyXäÆa( d»âw3* Zzg Zzg*hËÃO™*ZzgΊ3*
˜Š~HZsx»‚Bgh™¸vY*ZzgZvÅ0uŠZðÈà¸àÈ-V6
óó i*ÅoÎ*X
]øiøn»³köÖøn»³×øèø]ö‰»†ôpøeôo»Âø×Fo ] Îø³^ÙøÎø^Ùø…ø‰öç»Ùö]²ô ” Âø³à»]øeôoâö†øm»†øéø I 5
Îø³ç»Ýõeö_öç»ÞöãöÜ»Òø^Ö»þ³fönöç»lôÊôn»ãø^]Ö»vøn$^löiö†FpÚôà»ìø^…ôtôeö_öç»ÞôãôÜ»ÊøÏö×»kö
Úøà»âFç.Ÿø?ðômø^qôf»†øñnô»Øö[Îø^ÙøâFç.Ÿø?ðô]øÒø×øèö]Ö†ôùeFç]E]eàÚ^qäD
ä•Ûâc a ÐgzZeìë•ZvÆgÎw h FÀ:LL|]Z1CÙk{
ZqZ,¤z{6XÆùyzVŧb¸ cZ`ÅgZ]÷Z¦gƒZ
~ä7YƒZL! Zy~‚,½}ƒñ•Ž!CÙÐÃWD•
tΊpgßv•óóX ZrVäec tÃyßv•?
…ø]*m»köÖøn»×øèø]ö‰»†ôpøeôo»…øqö¡÷ ] Îø^ÙøÎø^ÙøÞøfôo%]²ô ” Âø³à»‰öÛ»†øéøe»àôqöß»‚öhõ I6
Êø³Ïôn»³ØøÖôo»!ÒôØö]Ö†ôùeFç] ! møŠ»fø³xöÊô³o»Þø㻳†õæømö³×»³Ïø³Üö]Ö»vôrø^…øéøÊøŠø^øÖ»köÚø^âF„ø]
EÚŠß‚]uÛ‚D
äa ZvÆÑ ÐgzZeìë• h FÀ:LL|]ª{0+[
ZzgZÐßzV Zq¿1~¾g;ì cZ`ÅgZ]~䊬 •Ûâc
tΊ3äzZÑìóóX =CcŠ ! tHì ~ä7Y ÐâgZYg;ì
]ôá$]Ö³†ôùeF³ç]æø]ôá»Òø%ö†øÊø^ôá$ ] Îø³^ÙøÎø³^Ùø…ø‰öç»Ùö]²ô ” Âø³à»]ôe»àôÚøŠ»Ãö绕õ I 7
E]eàÚ^qä(ÚŠß‚]uÛ‚D Âø^Îôføjøäüiø’ôn»†ö]ôÖFoÎøØõù
a gÎwZv ÐgzZeìë• h FÀ:LL|]†Zv0&Š
ºZzg¶ ΊZ¤pH„icŠ{ƒYñpZk»Wy~Z•x ä•Ûâc
ìóóX
Öønø³^»iônøà$Âø×øo]Öß$^Œô‡øÚø^ẟ$møf»ÏFo ] Âøà»…ø‰öç»Ùô]²ô ” Âøà»]øeôo»âö†øm»†øéø I 8
ÒôØø]Ö†ôùeFç]Êø^ôá»Ö$Ü»mø^»Òö×öäü]ø‘ø^eøäüÚôà»Æöfø^…ôå´E]eàÚ^qäD F ]øuø‚º]ôŸ$]
G ä•Ûâc a ÐgzZeìZvÆgÎw h FÀ:LL|]Z1CÙk{
ŽpŠ pz{Ί3äzZуÇÔ ßÍV6ZqZ(iâ:WñÇžÃð:aÇ
Xó ÂZk»½g¢zgZkÆZ0gãÇó Ί:3@ƒÇ
1617

18. ZZ]ôq»jøßôföç]]ÖŠ$f»Äø]ÖÛöç»eôÏø^lôXX ] Îø^Ùø…ø‰öç»Ùö]²ô Îø^Ùø ” Âøà»]øeôoâö†øm»†øéø I 4
Îø³^ÙøZZ]øÖŽôù†»Õöeô^²ôXXæø]ÖŠôùv»†öæøÎøj»Øö]Öß$Ë»‹ø ? Îø³^Ööç]mø^…ø‰öçÙø]²ôæøÚø^âöà$
]Ö$jô³o»uø³†$Ýø]²ö]ôŸ$eô³^Ö»³vø³Ðôùæø]øÒ»³Øö]Ö†ôùeFç]æø]øÒ»ØöÚø^Ùø]Ö»nøjôn»Üôæø]Öj$çøÖôùomøç»Ýø
]Öˆ$u»ÌôæøÎø„»Íö]Ö»Ûöv»’øßø^lô]Ö»Çø^Êô¡ølô]Ö»Ûöç,Úôßø^lôEÚŠ×ÜD
ä•Ûâc a ÐgzZeìë•ZvÆgÎw h FÀ:LL|]Z1CÙk{
z{ÃyÐ a ‚]$Zzgn{ÁkƒVДZrVä7YcgÎwZv!
ZzgYŠz™* äZg•áŠ•ÛâcZvÆ‚BËÃÑq™* a ‚]k{•?W
Zzg)ZKYyXäÆa( d»âw3* Zzg Zzg*hËÃO™*ZzgΊ3*
˜Š~HZsx»‚Bgh™¸vY*ZzgZvÅ0uŠZðÈà¸àÈ-V6
óó i*ÅoÎ*X
]øiøn»³köÖøn»³×øèø]ö‰»†ôpøeôo»Âø×Fo ] Îø³^ÙøÎø^Ùø…ø‰öç»Ùö]²ô ” Âø³à»]øeôoâö†øm»†øéø I 5
Îø³ç»Ýõeö_öç»ÞöãöÜ»Òø^Ö»þ³fönöç»lôÊôn»ãø^]Ö»vøn$^löiö†FpÚôà»ìø^…ôtôeö_öç»ÞôãôÜ»ÊøÏö×»kö
Úøà»âFç.Ÿø?ðômø^qôf»†øñnô»Øö[Îø^ÙøâFç.Ÿø?ðô]øÒø×øèö]Ö†ôùeFç]E]eàÚ^qäD
ä•Ûâc a ÐgzZeìë•ZvÆgÎw h FÀ:LL|]Z1CÙk{
ZqZ,¤z{6XÆùyzVŧb¸ cZ`ÅgZ]÷Z¦gƒZ
~ä7YƒZL! Zy~‚,½}ƒñ•Ž!CÙÐÃWD•
tΊpgßv•óóX ZrVäec tÃyßv•?
…ø]*m»köÖøn»×øèø]ö‰»†ôpøeôo»…øqö¡÷ ] Îø^ÙøÎø^ÙøÞøfôo%]²ô ” Âø³à»‰öÛ»†øéøe»àôqöß»‚öhõ I6
Êø³Ïôn»³ØøÖôo»!ÒôØö]Ö†ôùeFç] ! møŠ»fø³xöÊô³o»Þø㻳†õæømö³×»³Ïø³Üö]Ö»vôrø^…øéøÊøŠø^øÖ»köÚø^âF„ø]
EÚŠß‚]uÛ‚D
äa ZvÆÑ ÐgzZeìë• h FÀ:LL|]ª{0+[
ZzgZÐßzV Zq¿1~¾g;ì cZ`ÅgZ]~䊬 •Ûâc
tΊ3äzZÑìóóX =CcŠ ! tHì ~ä7Y ÐâgZYg;ì
]ôá$]Ö³†ôùeF³ç]æø]ôá»Òø%ö†øÊø^ôá$ ] Îø³^ÙøÎø³^Ùø…ø‰öç»Ùö]²ô ” Âø³à»]ôe»àôÚøŠ»Ãö绕õ I 7
E]eàÚ^qä(ÚŠß‚]uÛ‚D Âø^Îôføjøäüiø’ôn»†ö]ôÖFoÎøØõù
a gÎwZv ÐgzZeìë• h FÀ:LL|]†Zv0&Š
ºZzg¶ ΊZ¤pH„icŠ{ƒYñpZk»Wy~Z•x ä•Ûâc
ìóóX
Öønø³^»iônøà$Âø×øo]Öß$^Œô‡øÚø^ẟ$møf»ÏFo ] Âøà»…ø‰öç»Ùô]²ô ” Âøà»]øeôo»âö†øm»†øéø I 8
ÒôØø]Ö†ôùeFç]Êø^ôá»Ö$Ü»mø^»Òö×öäü]ø‘ø^eøäüÚôà»Æöfø^…ôå´E]eàÚ^qäD F ]øuø‚º]ôŸ$]
G ä•Ûâc a ÐgzZeìZvÆgÎw h FÀ:LL|]Z1CÙk{
ŽpŠ pz{Ί3äzZуÇÔ ßÍV6ZqZ(iâ:WñÇžÃð:aÇ
Xó ÂZk»½g¢zgZkÆZ0gãÇó Ί:3@ƒÇ
1617

19. &¶ ΊÅ
ZΊÃuât»g~ÅZ‚kÆîg6JwHYñÂZkŶ&Zâ4VÐ
ªCÙƒC•Zzgz{ZãZ±gZ]ÐZ¨yÅplqà6úWzgƒ@ìžZy»Z•ð
»|xŒäÆa»°ìXfs Êø^»ƒøÞöç»]eôvø†»hõÚôùàø]Ö×#äôæø…ø‰öç»Öôä´ ¿f™Ì
: {»g-V»ZqZ)àY^{7HYg;ì ~ΊÅn
ñÅ'F~: âu- DœÅ*Šg~ 1
Š*~CÙ»xÆaœZzguâtÎ*7@ìpZ{Zk»x»mÅzwÄÐ
ƒcigZ®zˆg]ÐXQÃðÌ»xZ(7T~vy»ç{:ƒXp
uâtŠZgΊÅzzÐåZqÑiòZŸ±»hŠZgŒÛZg0@ìZzgZÐL
vy»Z067ƒ@XZ¨ãœZ¤Ÿù̃YñAÌuâtŠZgZCΊghä
ûg7ƒ@Xtßg‹qw=ÔyÔZܪ]¾nCÙZ±gÐ)²:ìX
: zÕy»O d D• 2
(ŠgZÝZ¨+6uâñůEà Application Ί~Âx»iZ:t)
t™ä»Z´yìX¸zzìž5•d~ÑZÄÔ^gŠ~Ôgi¾'wZzg
Z¨yÅ7¤CYg„ìZzgÑÓÔwmÔß^R^Zzg•ÛZeƒиWZzg
ÂZ*_"‘Ygì•X‰Zz‡]Ί~ŒÛnhzZáÅÓx¾ðÔz‚b
ŒVJžyZzgy~ñŽŠ¢zgc‹i0Ï6Ìï™1Y@ìXßg‹qw
Zk^ÃÌVYCìžZ¨ypŠÉ6ZzgZLÈuÐÁD”VÃZL
;ðVO™ä66gƒY@ìXppZ{Ãð¢zg]qFg~óÈuóZ#kÐ
™Z{g;ƒc"gziÇgZKi0ÏÐ"iZgƒóΊpgÅ°z]z•Šà»t¬Ý
œÐ¾nƒCìX ƒ@ìžZÐÜsZL
: g{ŠZg~ YZ6 DŠzu}žð 3
Ίpg¡âwŠ}™%ËœzúÆŠzuzVžðÆZq¸¨{
ìXZk»uât:ÜsôpÉ(kgLì²HznÃY ~ÑqƒY@
(~ΊZŠZ™ä Long Term Period) zZќ̉Zz‡]îsæ]
@ìX ÅÃY
:46Š¢ DpŠ¾èz 4
ΊpgÃaVžZqHg{Ñb6ΊMìóOVpZÐË»gz!gÅF¹cq~
CXz{Z•ðpŠ¾èÐÜsZLo«6Ãg‚ìXZ¤ ÐÃðŠw
8o-ö FF7ƒ
»Z06ƒ@ì¯gZêZCgzé© (Market Decline) L‚Š!iZg~
ÅzzÐaZzZg~¿ (Scarcity of Capital) ìZzg¡Òï
GGLuât
Z]%AƒD•XΊpgÅpŠ¾è W 6tZ (Production Process)
бz¸ò¢ŠZ]6ÌfZC¢ŠZ]³mƒD•X0Îy ÅtZ•ìžZ
ZzgP0ÎEVÅ /
teZ°JV[ì 40 6Zkz‰ÜÀÛzãŒÛ£
teZ°ÐiZZìX›˜´6ÀÛzã 100 ÛzÈo¶V~¦”{g¶
teZ° 1000 teZ°ì²›˜´ÆZ÷Z•ÛZŠÆ 700 ŒÛ£Zkz‰Ü
ÐiZZ»uâtf!¶V~g3ƒZìX
Ð: 7 vy» - DΊ~ŒÛ£ 5
:ƒVópË»gz!gÆ (Risks) Š*»Ãð»gz!gZ(7ìT~çZ]
1819
teZ°»ZŸ†ƒ[ìX)*Ñ( 20 ~Zkg¶~ÁZiÁ 2015 ‚w¬ÅìÔZkz‰Üª 14 /t!]

20. &¶ ΊÅ
ZΊÃuât»g~ÅZ‚kÆîg6JwHYñÂZkŶ&Zâ4VÐ
ªCÙƒC•Zzgz{ZãZ±gZ]ÐZ¨yÅplqà6úWzgƒ@ìžZy»Z•ð
»|xŒäÆa»°ìXfs Êø^»ƒøÞöç»]eôvø†»hõÚôùàø]Ö×#äôæø…ø‰öç»Öôä´ ¿f™Ì
: {»g-V»ZqZ)àY^{7HYg;ì ~ΊÅn
ñÅ'F~: âu- DœÅ*Šg~ 1
Š*~CÙ»xÆaœZzguâtÎ*7@ìpZ{Zk»x»mÅzwÄÐ
ƒcigZ®zˆg]ÐXQÃðÌ»xZ(7T~vy»ç{:ƒXp
uâtŠZgΊÅzzÐåZqÑiòZŸ±»hŠZgŒÛZg0@ìZzgZÐL
vy»Z067ƒ@XZ¨ãœZ¤Ÿù̃YñAÌuâtŠZgZCΊghä
ûg7ƒ@Xtßg‹qw=ÔyÔZܪ]¾nCÙZ±gÐ)²:ìX
: zÕy»O d D• 2
(ŠgZÝZ¨+6uâñůEà Application Ί~Âx»iZ:t)
t™ä»Z´yìX¸zzìž5•d~ÑZÄÔ^gŠ~Ôgi¾'wZzg
Z¨yÅ7¤CYg„ìZzgÑÓÔwmÔß^R^Zzg•ÛZeƒиWZzg
ÂZ*_"‘Ygì•X‰Zz‡]Ί~ŒÛnhzZáÅÓx¾ðÔz‚b
ŒVJžyZzgy~ñŽŠ¢zgc‹i0Ï6Ìï™1Y@ìXßg‹qw
Zk^ÃÌVYCìžZ¨ypŠÉ6ZzgZLÈuÐÁD”VÃZL
;ðVO™ä66gƒY@ìXppZ{Ãð¢zg]qFg~óÈuóZ#kÐ
™Z{g;ƒc"gziÇgZKi0ÏÐ"iZgƒóΊpgÅ°z]z•Šà»t¬Ý
œÐ¾nƒCìX ƒ@ìžZÐÜsZL
: g{ŠZg~ YZ6 DŠzu}žð 3
Ίpg¡âwŠ}™%ËœzúÆŠzuzVžðÆZq¸¨{
ìXZk»uât:ÜsôpÉ(kgLì²HznÃY ~ÑqƒY@
(~ΊZŠZ™ä Long Term Period) zZќ̉Zz‡]îsæ]
@ìX ÅÃY
:46Š¢ DpŠ¾èz 4
ΊpgÃaVžZqHg{Ñb6ΊMìóOVpZÐË»gz!gÅF¹cq~
CXz{Z•ðpŠ¾èÐÜsZLo«6Ãg‚ìXZ¤ ÐÃðŠw
8o-ö FF7ƒ
»Z06ƒ@ì¯gZêZCgzé© (Market Decline) L‚Š!iZg~
ÅzzÐaZzZg~¿ (Scarcity of Capital) ìZzg¡Òï
GGLuât
Z]%AƒD•XΊpgÅpŠ¾è W 6tZ (Production Process)
бz¸ò¢ŠZ]6ÌfZC¢ŠZ]³mƒD•X0Îy ÅtZ•ìžZ
ZzgP0ÎEVÅ /
teZ°JV[ì 40 6Zkz‰ÜÀÛzãŒÛ£
teZ°ÐiZZìX›˜´6ÀÛzã 100 ÛzÈo¶V~¦”{g¶
teZ° 1000 teZ°ì²›˜´ÆZ÷Z•ÛZŠÆ 700 ŒÛ£Zkz‰Ü
ÐiZZ»uâtf!¶V~g3ƒZìX
Ð: 7 vy» - DΊ~ŒÛ£ 5
:ƒVópË»gz!gÆ (Risks) Š*»Ãð»gz!gZ(7ìT~çZ]
1819
teZ°»ZŸ†ƒ[ìX)*Ñ( 20 ~Zkg¶~ÁZiÁ 2015 ‚w¬ÅìÔZkz‰Üª 14 /t!]

21. ì(Business Risk) aΊ~ŒÛ£¢&Z‹pŠZq¹(Z»gz!g~ç{
˜ZqHg{Ñb6ΊZŠZ™*ƒ@ìópZ{»gz!g~o«ƒc:ƒX žT~Ñi
: «pg~ o^ *Y D 6
á™KYäzZá»gz!g~:ÜsΊÉZkÅzzÐaZ Ί~ŒÛ£
Æaz‚b (Payments) ZzgZŠZ°V (Risks) ƒäzZáŠvçZ]
Å•ÛZbÃ7Ãgnƒño«ÅÑbÃicŠ{g3Y@ìXZkÐZ,ßÍV
ÃŽZkn»»gz!gZLuâñЙD•óuÐiZZo«¾ä»ñµx
WY@ìX
Dµð~ZŸ†: 7
ZâYÅ7»ç™Dz‰ÜŠvZyZY]Æ‚BΊÅZŠZ5ZzgΊÅzzÐ
(Å7È~ÆauÐicŠ{o«Ì•áïHY@ Risks ŠvçZ])
a{x ìTÐZâYÅù¦7~ZŸ†ƒY@ìXZ¤ZâYÅ»g~Æ
âw•ÛZë™äzZáóZâY»g™äzZáóZâYÃâgL~•ÛZë™äzZáZzg
ZâYÃâgL~•Ûz|™äzZáóƒ„Ί~ŒÛçV6ZLZL»x™gì
ƒVÂZ0Zi{HYYìžCÙR6ΊÅzzÐZâYÅ7~¾ŠgZŸ†
‚B Y~0Îyä¬@â1CZŠZgzVÆ 1 9 8 8 ƒÇX}Šc
»ç@{HXZkÅzz Structural Adjustment Programme
†V~ ZzgΊÅZŠZ°V~i'Š„ZŸ†ƒZZzgí ÐΊ~ŒÛçV
kZŸ†ƒZX 700Ð500
:†Ÿ ñ~Z DZâYÆ™Z 8
ΊÅzzÐCÙÚÆ™Zñ~ZŸ†ƒY@ìpZ{z{i}óŠ»yó•~ó
»g{:cfgZùÜz܃VóYVžZyƒÅâq~Ί•áïƒ@ìXZk
(Depreciation) ÆZyZY] (Wear &Tear) Æ´z{“zg6
ìX Æ‚B‚B™ZñƉÐÌo«ÅRÃ'×hZz™gpÅãŠ•ÛZëƒYC
: DœíV»Z¡w 9
o«ÃZz™gpÆZŠZâ]~ÐZq'׊zgzVÃZy»7gZçz£:ŠbÌ
7WäzZáŠvçZ]Å7È~Æa»gz!g ìXΊZzgZkÅzzÐ
ÆZÒz‚bZEwƒYD•Xí'׊zgzVÃZyÅœÅo9Ð
Zzg9ZƒV~¶ (Downsizing) çz£ZŠZ7HY@X'׊zgzV~¶
ãŠ~zz¸ƒCìX Å (Cut Short)
: D"gziÇg~~ZŸ† 10
ädR6tU" (Keynes) èçâ]6zWµ2.çGEE CÙ ,œ~Æ•gâ •
HìžÎŠÆ{8Æ%"gziÇg~»{Øe7XΊuâñÅ
Ã'~§bOW™@ìXΊZzgZkÅzzÐ (Productivity) &83ïGGL»g
ZŠ~¸]ÃicŠ{Ð •Û 7WäzZáŠvçZ]Å7È~ÆaÁÐÁZ
icŠ{o«Æ”wÆaZEwHY@ìTÐ"gziÇg~ÀgìX
"gziÇgßvŽgziÇg~ÎñYäÆWgizqƒD•Z7gzi~7ï
$ËXZy~ÐCÙZq~uâtqÝ™ÆgL»gz!g™äÅZq7
ƒCcgL»gz!g~ΊÆZ¡à1úÃZVäŸ]7ƒCXQgL
uâtŠZgÌŒÛnŠ¶6gZè7ƒ@X »gz!gÆa
(~¶: Demand ZâYÅÔ) D11
ΊÅzzІV~ZŸ†ƒ@ìZzgZâYÅâ8Zâ7ƒCΞ†VÃ
2021

22. ì(Business Risk) aΊ~ŒÛ£¢&Z‹pŠZq¹(Z»gz!g~ç{
˜ZqHg{Ñb6ΊZŠZ™*ƒ@ìópZ{»gz!g~o«ƒc:ƒX žT~Ñi
: «pg~ o^ *Y D 6
á™KYäzZá»gz!g~:ÜsΊÉZkÅzzÐaZ Ί~ŒÛ£
Æaz‚b (Payments) ZzgZŠZ°V (Risks) ƒäzZáŠvçZ]
Å•ÛZbÃ7Ãgnƒño«ÅÑbÃicŠ{g3Y@ìXZkÐZ,ßÍV
ÃŽZkn»»gz!gZLuâñЙD•óuÐiZZo«¾ä»ñµx
WY@ìX
Dµð~ZŸ†: 7
ZâYÅ7»ç™Dz‰ÜŠvZyZY]Æ‚BΊÅZŠZ5ZzgΊÅzzÐ
(Å7È~ÆauÐicŠ{o«Ì•áïHY@ Risks ŠvçZ])
a{x ìTÐZâYÅù¦7~ZŸ†ƒY@ìXZ¤ZâYÅ»g~Æ
âw•ÛZë™äzZáóZâY»g™äzZáóZâYÃâgL~•ÛZë™äzZáZzg
ZâYÃâgL~•Ûz|™äzZáóƒ„Ί~ŒÛçV6ZLZL»x™gì
ƒVÂZ0Zi{HYYìžCÙR6ΊÅzzÐZâYÅ7~¾ŠgZŸ†
‚B Y~0Îyä¬@â1CZŠZgzVÆ 1 9 8 8 ƒÇX}Šc
»ç@{HXZkÅzz Structural Adjustment Programme
†V~ ZzgΊÅZŠZ°V~i'Š„ZŸ†ƒZZzgí ÐΊ~ŒÛçV
kZŸ†ƒZX 700Ð500
:†Ÿ ñ~Z DZâYÆ™Z 8
ΊÅzzÐCÙÚÆ™Zñ~ZŸ†ƒY@ìpZ{z{i}óŠ»yó•~ó
»g{:cfgZùÜz܃VóYVžZyƒÅâq~Ί•áïƒ@ìXZk
(Depreciation) ÆZyZY] (Wear &Tear) Æ´z{“zg6
ìX Æ‚B‚B™ZñƉÐÌo«ÅRÃ'×hZz™gpÅãŠ•ÛZëƒYC
: DœíV»Z¡w 9
o«ÃZz™gpÆZŠZâ]~ÐZq'׊zgzVÃZy»7gZçz£:ŠbÌ
7WäzZáŠvçZ]Å7È~Æa»gz!g ìXΊZzgZkÅzzÐ
ÆZÒz‚bZEwƒYD•Xí'׊zgzVÃZyÅœÅo9Ð
Zzg9ZƒV~¶ (Downsizing) çz£ZŠZ7HY@X'׊zgzV~¶
ãŠ~zz¸ƒCìX Å (Cut Short)
: D"gziÇg~~ZŸ† 10
ädR6tU" (Keynes) èçâ]6zWµ2.çGEE CÙ ,œ~Æ•gâ •
HìžÎŠÆ{8Æ%"gziÇg~»{Øe7XΊuâñÅ
Ã'~§bOW™@ìXΊZzgZkÅzzÐ (Productivity) &83ïGGL»g
ZŠ~¸]ÃicŠ{Ð •Û 7WäzZáŠvçZ]Å7È~ÆaÁÐÁZ
icŠ{o«Æ”wÆaZEwHY@ìTÐ"gziÇg~ÀgìX
"gziÇgßvŽgziÇg~ÎñYäÆWgizqƒD•Z7gzi~7ï
$ËXZy~ÐCÙZq~uâtqÝ™ÆgL»gz!g™äÅZq7
ƒCcgL»gz!g~ΊÆZ¡à1úÃZVäŸ]7ƒCXQgL
uâtŠZgÌŒÛnŠ¶6gZè7ƒ@X »gz!gÆa
(~¶: Demand ZâYÅÔ) D11
ΊÅzzІV~ZŸ†ƒ@ìZzgZâYÅâ8Zâ7ƒCΞ†VÃ
2021

23. Zzg (Demand) Zk§bÔ 'ŒÛZggpÐeƒCìX 9R6
(Market 'ŒÛZg7gLZzg‚Š!iZg~ »ÂZiy (Supply) g‡
»ç{CÙz‰Üu6rÑ@gLìX Decline)
ZWZ]: t6(Investment) »g~ t uâ g Zz xV D12
uât»g~»Z®gxV6ìXΊ'Z{gZ„xV6ZWZ0Ziƒ@ìXΊÅzz
(Purchasing Power) ІV~ƒäzZÑZŸ†ßÍVŸ‹yh
VÅÑb~¶zZµƒCìXOVp0Îy~ ÃMW™@ìTÐx
°œ¶XZkÆ'@ 13 °œZzgxVÅÑb 5 Y~їΊ 1965
°œ¶XxV~¶ 5 °œ²xVÅÑb 17@16 Y~їΊ 1985
Ðuât»g~6'}ZWZ]%AƒD•X
:WZ 'Z 6 g™ŠÏ » DuâñÅ 13
WZ]eZmìXz{gL»xX~Ί»1úZVä ΊuâñÅ»g™ŠÏ6tZ
ÅfÁƒCìz{cÂÑzq„7KYMcÑzq™äƈvy
ZV™ghä7D•XZktZW»„³ìž¹ÐŠgCz‚bÅ
guYCìX (Exploration)h
DaZzZgÅ•h: 14
(Market ΊÅRÆ_.Zz™gpÅzzЂŠ!iZg~ o«ÅRÃ
»ç{gLìXZkç}ÃN%»Zq§itÌìžZâYÅ Decline)
aZzZgÃözŠHYñXZkÑÆaaZzZgÃZkRÐWÐ7("7Šc
Y@ÔTÐo«Å—F+ReƒnXZ%k~CÙ‚wZg1VeZ°¡ig¦
aZzZgÃÁ™ä6yaKYD•XaVžZâ(~g¶Ãå7ƒCOVpt
g¶ÎŠ~ŒÛn6qÝÅYCìXZ¨ãœZzgz‚bÆMqÅZkÐicŠ{
•áh„ÃðZzgƒX ‡]*uVw
•ÛZbÃgz): •Û ñÅzZ â Du 15
uâtŠZgZ:ÂxÃÐ(Zç{Zk!]Ѓ@ìžuâtZkŠgzZ•Û:ƒ
» Bank Reserve ¹Ác»„ƒYñXZkÑÆa YñžÎŠ
icŠ{ƒÇÔuâñÅ•ÛZbZÏŠg Reserve w/Z(gHY@ìXTŠg
özŠƒÏX'×htž"gziÇg~Zzg†V~ZŸ±ÐxV6tZWƒ@ì
ñÅ•ÛZbz,„özŠƒYCìX TÐuâ
]: Y Š{ZyZ c DÓ#ÖÆWæãÐi 16
~ uâtŠZg¡ZL¢ŠZ]ÆDÆaÓáVÃ!zg™Z@ìž‚Š!iZg~
¡à1ì(Ó#ÖÆaç*uƒYìX®Z )ŽžÎŠ»„Z ZŸ†
ßÍVÃgziÇg½™äZzgZyŸ‹yh(JäÆaÓ#ÖÃZLZyZY]
ZKWæãÐicŠ{gpeÂXŠ*Å9Ó‘)øw0Îy(uâtŠZgzV
(Budget Deficit) ÆZkYw~¤ëg•XZk§bP~Äg}
ň°ÆaZ7uâtŠZgzVÐ'×hΊ~ŒÛ2aYD•X»1úÌ
'ŠZ“™*7@ìX !syúZxÃ
DZ•ÛZŠÔy~ZŠZgzVZzg±WæãÆM{6uâtŠZgzV»ï: 17
ÓáVÃZLYw~MVƈuâtŠZg¡Z4ÓáVÃZLZPx»
fg=¯©ìXt¡:ÜsZ•ÛZŠZzgy~ZŠZgzVÅWæãÆZqM{»â´
0Y@ìɱWæãÆZkM{6̇*ƒY@쎌ÛçV6ΊÅ^
2223

24. Zzg (Demand) Zk§bÔ 'ŒÛZggpÐeƒCìX 9R6
(Market 'ŒÛZg7gLZzg‚Š!iZg~ »ÂZiy (Supply) g‡
»ç{CÙz‰Üu6rÑ@gLìX Decline)
ZWZ]: t6(Investment) »g~ t uâ g Zz xV D12
uât»g~»Z®gxV6ìXΊ'Z{gZ„xV6ZWZ0Ziƒ@ìXΊÅzz
(Purchasing Power) ІV~ƒäzZÑZŸ†ßÍVŸ‹yh
VÅÑb~¶zZµƒCìXOVp0Îy~ ÃMW™@ìTÐx
°œ¶XZkÆ'@ 13 °œZzgxVÅÑb 5 Y~їΊ 1965
°œ¶XxV~¶ 5 °œ²xVÅÑb 17@16 Y~їΊ 1985
Ðuât»g~6'}ZWZ]%AƒD•X
:WZ 'Z 6 g™ŠÏ » DuâñÅ 13
WZ]eZmìXz{gL»xX~Ί»1úZVä ΊuâñÅ»g™ŠÏ6tZ
ÅfÁƒCìz{cÂÑzq„7KYMcÑzq™äƈvy
ZV™ghä7D•XZktZW»„³ìž¹ÐŠgCz‚bÅ
guYCìX (Exploration)h
DaZzZgÅ•h: 14
(Market ΊÅRÆ_.Zz™gpÅzzЂŠ!iZg~ o«ÅRÃ
»ç{gLìXZkç}ÃN%»Zq§itÌìžZâYÅ Decline)
aZzZgÃözŠHYñXZkÑÆaaZzZgÃZkRÐWÐ7("7Šc
Y@ÔTÐo«Å—F+ReƒnXZ%k~CÙ‚wZg1VeZ°¡ig¦
aZzZgÃÁ™ä6yaKYD•XaVžZâ(~g¶Ãå7ƒCOVpt
g¶ÎŠ~ŒÛn6qÝÅYCìXZ¨ãœZzgz‚bÆMqÅZkÐicŠ{
•áh„ÃðZzgƒX ‡]*uVw
•ÛZbÃgz): •Û ñÅzZ â Du 15
uâtŠZgZ:ÂxÃÐ(Zç{Zk!]Ѓ@ìžuâtZkŠgzZ•Û:ƒ
» Bank Reserve ¹Ác»„ƒYñXZkÑÆa YñžÎŠ
icŠ{ƒÇÔuâñÅ•ÛZbZÏŠg Reserve w/Z(gHY@ìXTŠg
özŠƒÏX'×htž"gziÇg~Zzg†V~ZŸ±ÐxV6tZWƒ@ì
ñÅ•ÛZbz,„özŠƒYCìX TÐuâ
]: Y Š{ZyZ c DÓ#ÖÆWæãÐi 16
~ uâtŠZg¡ZL¢ŠZ]ÆDÆaÓáVÃ!zg™Z@ìž‚Š!iZg~
¡à1ì(Ó#ÖÆaç*uƒYìX®Z )ŽžÎŠ»„Z ZŸ†
ßÍVÃgziÇg½™äZzgZyŸ‹yh(JäÆaÓ#ÖÃZLZyZY]
ZKWæãÐicŠ{gpeÂXŠ*Å9Ó‘)øw0Îy(uâtŠZgzV
(Budget Deficit) ÆZkYw~¤ëg•XZk§bP~Äg}
ň°ÆaZ7uâtŠZgzVÐ'×hΊ~ŒÛ2aYD•X»1úÌ
'ŠZ“™*7@ìX !syúZxÃ
DZ•ÛZŠÔy~ZŠZgzVZzg±WæãÆM{6uâtŠZgzV»ï: 17
ÓáVÃZLYw~MVƈuâtŠZg¡Z4ÓáVÃZLZPx»
fg=¯©ìXt¡:ÜsZ•ÛZŠZzgy~ZŠZgzVÅWæãÆZqM{»â´
0Y@ìɱWæãÆZkM{6̇*ƒY@쎌ÛçV6ΊÅ^
2223

25. ~ÓáVÃZŠZ™*7@ìXZk§bCÙ‚w71VgzŒÛn1Y@ìZzgZg1V
gzΊZŠZHY@ìX
:ú :ƒV»1 ªÓ D18
Ó#Öz‚bŶÃ7gZ™äÅ{§ZâÎÆL¬Z™CìX(}
(}uâtŠZgzVЃVZzgßKƒðŠzªÅzßàƒCìp¬x
ņV~ZŸ†™ (Utilities) 6LΙZzgÑiòœ1] ZEwÅZâY
w Æz‚b»”w$h45é
E
EGêW‚yƒ@ìX®ZƒV»ªÓ:1ú̬xWŠò6eZ
X ŠcY@ì
6tZWZ]: (Circulationof Wealth) ¶Šzª D¤Š 19
Zk!]6ÀòZ·tìžuÅ4~Æa¤Š¶ŠzªÆ¿»4ƒ*
(ÁÐÁƒ*ecZzg Dead Money ZzgYg~gx¢zg~ìª%Š{âw)
(icŠ{ÐicŠ{X1ΊÆZ¡àbCÙÅzz Active Money i0{âw)
ЊzªP;ðV~ȃYCìXuâtŠZgZLfZC¢ŠZ]Âtgn
ƒñZeT•uâtâgLÐïwf•TФŠ¶Šzª»¿
6t (Economic Growth Rate) OWƒ@ìZzgçÙÑbZ‚ÛZö
‚ 6.5 ~1980 AƒD•X0Îy~çÙÑ—Z‚ÛZö ZWZ]%
~tÑb 1990 ~¬@â1CZŠZgzVÐç@{ƒZTƈ 1988 ¶X
‚ƒˆZzgZ[¬@â1CZŠZgzVÆ‚B'×h¬zyÆË~tÑb 4.6
‚g{ˆìX 3.3 Üs
: xÆaÆ»ñVÅj,(Ë ¸ Doz 20
Ί~u~Z,»ñVÆaz‚bÅ•ÛZbƒYCìŽZ¤p
oz¸xÆaÄ„¢zg~ƒVp)aZzZg~ƒVcŽgZòZ߉ÜїΊ
)'Zñ »1ú:ZVMƒVX}½Zzg¡Æ%Y]XqDP
‚0.3 (~½ÆaP»Zq‚ó¡Æa Y2003 YX 2002 ‚w
‚z–HŠìX 39 ZzgΊ~ŒÛçVÅZŠZ5Æa
{ÁZWZ]: n DZ½¦‹Š6 21
Ί~çÙÂx~ΊpgzVÅZq¾®ZŠÆ¢ŠZ]ÆDÅJ-ƒC
ìXßÍVŸ¨Wæã6Zy»ïƒ@ìXoz¸xÆ9z‚bZyÆ
ZEw~ƒD•XâgL~uâñÅ•ÛZb¡ZyÆ;ðV~È
ƒCìX†V»Z@gmJƒZy„Æg3z™x6ƒ@ìXtƒ¼Zqx
ZÒeÃçZ]~eZw™ÔZyÅœzúÆxZ]Æ™ÆZzg
Z¹ãŠ~¢zgc]Å•ÛZbJÐøzx™ÆqÝHY@ìX-VZqx
ZÒeÅ$qà¼ßÍVÅplqà»fg=kìX–wZDw:
ªCÙ~ˆg]ìó|~ŽZì C
ΊZq»ÔÑÅVÆa%À¢Y]
DçÑC°xZPx: 22
ΊÅP™{!Ñn{»g-VÅzzоdÔ¾dFZzgZ÷ÔZ÷FƒD-YD
•X–wñÑ*oøZŒ5ãZq§sŠzª»zgxƒ@ìZzgŠzu~§sL
çÙZ¡wÅzzÐZqxZÒe¾"ÅRÐÌni0Ï ÅѾ~X
2425

26. ~ÓáVÃZŠZ™*7@ìXZk§bCÙ‚w71VgzŒÛn1Y@ìZzgZg1V
gzΊZŠZHY@ìX
:ú :ƒV»1 ªÓ D18
Ó#Öz‚bŶÃ7gZ™äÅ{§ZâÎÆL¬Z™CìX(}
(}uâtŠZgzVЃVZzgßKƒðŠzªÅzßàƒCìp¬x
ņV~ZŸ†™ (Utilities) 6LΙZzgÑiòœ1] ZEwÅZâY
w Æz‚b»”w$h45é
E
EGêW‚yƒ@ìX®ZƒV»ªÓ:1ú̬xWŠò6eZ
X ŠcY@ì
6tZWZ]: (Circulationof Wealth) ¶Šzª D¤Š 19
Zk!]6ÀòZ·tìžuÅ4~Æa¤Š¶ŠzªÆ¿»4ƒ*
(ÁÐÁƒ*ecZzg Dead Money ZzgYg~gx¢zg~ìª%Š{âw)
(icŠ{ÐicŠ{X1ΊÆZ¡àbCÙÅzz Active Money i0{âw)
ЊzªP;ðV~ȃYCìXuâtŠZgZLfZC¢ŠZ]Âtgn
ƒñZeT•uâtâgLÐïwf•TФŠ¶Šzª»¿
6t (Economic Growth Rate) OWƒ@ìZzgçÙÑbZ‚ÛZö
‚ 6.5 ~1980 AƒD•X0Îy~çÙÑ—Z‚ÛZö ZWZ]%
~tÑb 1990 ~¬@â1CZŠZgzVÐç@{ƒZTƈ 1988 ¶X
‚ƒˆZzgZ[¬@â1CZŠZgzVÆ‚B'×h¬zyÆË~tÑb 4.6
‚g{ˆìX 3.3 Üs
: xÆaÆ»ñVÅj,(Ë ¸ Doz 20
Ί~u~Z,»ñVÆaz‚bÅ•ÛZbƒYCìŽZ¤p
oz¸xÆaÄ„¢zg~ƒVp)aZzZg~ƒVcŽgZòZ߉ÜїΊ
)'Zñ »1ú:ZVMƒVX}½Zzg¡Æ%Y]XqDP
‚0.3 (~½ÆaP»Zq‚ó¡Æa Y2003 YX 2002 ‚w
‚z–HŠìX 39 ZzgΊ~ŒÛçVÅZŠZ5Æa
{ÁZWZ]: n DZ½¦‹Š6 21
Ί~çÙÂx~ΊpgzVÅZq¾®ZŠÆ¢ŠZ]ÆDÅJ-ƒC
ìXßÍVŸ¨Wæã6Zy»ïƒ@ìXoz¸xÆ9z‚bZyÆ
ZEw~ƒD•XâgL~uâñÅ•ÛZb¡ZyÆ;ðV~È
ƒCìX†V»Z@gmJƒZy„Æg3z™x6ƒ@ìXtƒ¼Zqx
ZÒeÃçZ]~eZw™ÔZyÅœzúÆxZ]Æ™ÆZzg
Z¹ãŠ~¢zgc]Å•ÛZbJÐøzx™ÆqÝHY@ìX-VZqx
ZÒeÅ$qà¼ßÍVÅplqà»fg=kìX–wZDw:
ªCÙ~ˆg]ìó|~ŽZì C
ΊZq»ÔÑÅVÆa%À¢Y]
DçÑC°xZPx: 22
ΊÅP™{!Ñn{»g-VÅzzоdÔ¾dFZzgZ÷ÔZ÷FƒD-YD
•X–wñÑ*oøZŒ5ãZq§sŠzª»zgxƒ@ìZzgŠzu~§sL
çÙZ¡wÅzzÐZqxZÒe¾"ÅRÐÌni0Ï ÅѾ~X
2425

27. ( U n e q u a l ¦Zgä66gƒCìXZk)²:
$©o-
ê
GG
GLŠzª
(Class ÅzzÐ4C„ Distribution of Wealth)
aZƒC쎔]Z(g™ÆZq4C“ÃÀŠî Distribution)
ìXΊpguâtŠZgzVZzg¬%îGZÜkÆ¢ŠZ]~§ŠZ]ÅzzÐZ_gÅ
ªaZƒCìTÐo$Z*»DgƒY@ìXagcVóeZÆóZ¨ZóOz
¸g]ÆzZu](_-YD•XOVp¦¸¸V~ZgOí~
$Z*ZzgZ_gŪZzgZ%kÔW7´Zzg-g~¬@â1CZŠZgzVÆ
6ŸŠbCÙ}ZÏ$Z*»ì1mo]•X Üsi'Š„Zzg
:¤ Dñ4xÅ 23
Ί~Z¡wÆÜsZøzx4]WzZiZVD•ÂΊpgZ•ð¨
ΊÆZ¡w»ªCÙ~1ìÔÓxçÙ ßg]Z(g™f•Zzgo«ÃŽž
'ZÇVÅaÆîg6WÐ7™Šï•XíuâtŠZg~ÆÜsgœ¿ÎŠ
ÆÜs¸WZŠZxÅOññ4xÅgZ{Z(g™©ìT~o«Ã»™ä
ÆaCÙnÅfZC!»™Š~YCìXÓxq,øwi}ÔkyÔŠz»yÔ
™aYD•X1[tìž (Nationalize »g{äz){¸xä)
¶V~7~ΊpgzVÅg¶:¸xðYCìZzg:Zk6ΊÅZŠZ5ȃC
ìXŠ?tŠ~YCìžgSZ¤‚™BÐZzgΊ7Š,ÐÂÂ7ƒ
ÃÏXÍc]guâtŠZg™@ìZzgwZƒZ¨âVÃQìZzgZ7CÙnÅ„~ó
(ÏZzg—WiZŠ~Ðøzx™Æƒ~)zZ]ÆË~«ŠcY@ìX
: DÎZѸZò>Ï~ZŸ† 24
o~ΊÅzzÐ("zZà"gziÇg~û™äÆaZ˜´
WæZ]~ZŸ±ÅÃl™D•XZkÑÆa™´ÅŠg~¶ '
»–gZ1Y@ì@ž¬@r~~'WæZ]Å7Šv (Devaluation)
˜´Æ£«~Á™Æ'WæZ]~ZŸ†HYñX1aVžŠv˜´
ÌZk¿ÃZ(g™äÅÃÒ™D•TÐÃðoZk‚~»x!
qÝ7™0@XZkÆË~ÎZz‡]Z˜´ÆŠgxy>Ï
aZƒYCìŽ(|™kÅÏ”]Z(g™gìX (Tension)
D‡]*u"r: 25
çâ]ñŽŠ{çÙn{»g-V»´`Zzg è uâtŠZgZ:Ί~ÂxÐMWâCÙ+
i7™äЇܕXΊÅaZ™Š{n{»g-V»{ØΊ»K%e
7X1aVžÎŠÃŠzg™*Z7àg7ÔZÏa^™zV6^™,3D-
¤Zã YD•XZyÆ?m™Š{"gziÇg~ÆÓx´`¤Zã(JäzZáZzg
ÆÓx´`"gziÇg~(JäzZá•X®Z“¸çLq¢Åçâ]Æ(}
çâ]Å"r‡&ÿELg3ÌìZzg‡]*uÌX è (})bÆ‚tâCÙ+
: DƒÐ(ZÄg{ 26
Æ–wŠzªÅ)²:„ZqŠzŠJg~ŒZgÅ m ŠŠ~ v |]•á{zàZ
§bZ¨âV»Z¡w™CìXZkÐZ¨âVÅŠ*zWy]ŠzâV„'!Š
ƒYC•XuâtŠZgzV»¡âÁwZx6H™@ìpgzqãjyÐøzx
ƒY@ìZzgH~c›}ZZzg¡¾æ
E
LWy]и…gLìXQu"ìGILt~Æ
2627

28. ( U n e q u a l ¦Zgä66gƒCìXZk)²:
$©o-
ê
GG
GLŠzª
(Class ÅzzÐ4C„ Distribution of Wealth)
aZƒC쎔]Z(g™ÆZq4C“ÃÀŠî Distribution)
ìXΊpguâtŠZgzVZzg¬%îGZÜkÆ¢ŠZ]~§ŠZ]ÅzzÐZ_gÅ
ªaZƒCìTÐo$Z*»DgƒY@ìXagcVóeZÆóZ¨ZóOz
¸g]ÆzZu](_-YD•XOVp¦¸¸V~ZgOí~
$Z*ZzgZ_gŪZzgZ%kÔW7´Zzg-g~¬@â1CZŠZgzVÆ
6ŸŠbCÙ}ZÏ$Z*»ì1mo]•X Üsi'Š„Zzg
:¤ Dñ4xÅ 23
Ί~Z¡wÆÜsZøzx4]WzZiZVD•ÂΊpgZ•ð¨
ΊÆZ¡w»ªCÙ~1ìÔÓxçÙ ßg]Z(g™f•Zzgo«ÃŽž
'ZÇVÅaÆîg6WÐ7™Šï•XíuâtŠZg~ÆÜsgœ¿ÎŠ
ÆÜs¸WZŠZxÅOññ4xÅgZ{Z(g™©ìT~o«Ã»™ä
ÆaCÙnÅfZC!»™Š~YCìXÓxq,øwi}ÔkyÔŠz»yÔ
™aYD•X1[tìž (Nationalize »g{äz){¸xä)
¶V~7~ΊpgzVÅg¶:¸xðYCìZzg:Zk6ΊÅZŠZ5ȃC
ìXŠ?tŠ~YCìžgSZ¤‚™BÐZzgΊ7Š,ÐÂÂ7ƒ
ÃÏXÍc]guâtŠZg™@ìZzgwZƒZ¨âVÃQìZzgZ7CÙnÅ„~ó
(ÏZzg—WiZŠ~Ðøzx™Æƒ~)zZ]ÆË~«ŠcY@ìX
: DÎZѸZò>Ï~ZŸ† 24
o~ΊÅzzÐ("zZà"gziÇg~û™äÆaZ˜´
WæZ]~ZŸ±ÅÃl™D•XZkÑÆa™´ÅŠg~¶ '
»–gZ1Y@ì@ž¬@r~~'WæZ]Å7Šv (Devaluation)
˜´Æ£«~Á™Æ'WæZ]~ZŸ†HYñX1aVžŠv˜´
ÌZk¿ÃZ(g™äÅÃÒ™D•TÐÃðoZk‚~»x!
qÝ7™0@XZkÆË~ÎZz‡]Z˜´ÆŠgxy>Ï
aZƒYCìŽ(|™kÅÏ”]Z(g™gìX (Tension)
D‡]*u"r: 25
çâ]ñŽŠ{çÙn{»g-V»´`Zzg è uâtŠZgZ:Ί~ÂxÐMWâCÙ+
i7™äЇܕXΊÅaZ™Š{n{»g-V»{ØΊ»K%e
7X1aVžÎŠÃŠzg™*Z7àg7ÔZÏa^™zV6^™,3D-
¤Zã YD•XZyÆ?m™Š{"gziÇg~ÆÓx´`¤Zã(JäzZáZzg
ÆÓx´`"gziÇg~(JäzZá•X®Z“¸çLq¢Åçâ]Æ(}
çâ]Å"r‡&ÿELg3ÌìZzg‡]*uÌX è (})bÆ‚tâCÙ+
: DƒÐ(ZÄg{ 26
Æ–wŠzªÅ)²:„ZqŠzŠJg~ŒZgÅ m ŠŠ~ v |]•á{zàZ
§bZ¨âV»Z¡w™CìXZkÐZ¨âVÅŠ*zWy]ŠzâV„'!Š
ƒYC•XuâtŠZgzV»¡âÁwZx6H™@ìpgzqãjyÐøzx
ƒY@ìZzgH~c›}ZZzg¡¾æ
E
LWy]и…gLìXQu"ìGILt~Æ
2627

29. (X ÚŠ³ß³‚]u³Û‚ _.wZx¾ðЩzZÑŸ3„~Yä»hŠZgì)
Šzu~§s¾dâzgc‹i0ÏÅ„:ÜsCÙz‰Ü*ñgBìÉ
Wy]Å»g~ÐÌ"Ç:gBìZzgâ"ŒVJV$Ëìžu"ìGIL
ŒÛdìžLó¬JVYñ( "— ]ôá$]Ö»³Ëø³Ï»³†ømø³Óø^•ömøÓöç»áöÒöË»†÷]E t~
Æ]ZtZ¨yÃâ-ϬJáYCìX
]! ]zŽZ ŸZ Z‹
n: ªZ‹Z
Îg>ZÂ{~ΊÅw#ÖÐ0Wc]»Z:tLZYz)WÆaì:žQy
ÆaŽ(}(}ŒÛ2f•X Å»gzVZzg@`zV
: ŽZ[
ghŠzŽ¼ÎŠ~ æøƒø…öæ»]Úø^eøÏôoøÚôàø]Ö†ôùeFç] ~¬ìž 278 Îg>ZÂ{We:
¾Ð¢Y^ìZzg¾ …eF³³³ç] ~Z+ÃðH7ž Zk¬ Ð!¹XìX
~280 ŘƙŠ~ˆìXÎg>ZÂ>We: …eF³ç] ¢NqìÉCÙnÆ Ð
•ÛâcŠžŒÛnpZ{Z¤ߊ„ƒÂZkÃúŠzXZkÐt%ZŠ¢žŒÛnpZ{ZÏ
ßg]~ߊ„ƒYìžMƒŠg„7Xtßg]Ë@`cÅ»gÆ
ã$ËìžZk»âw»gz!g~΃ZƒZzg¯g~îg6ŒÛnÅzZ3ZkÆ
ae:ƒXÉú»çnÂZÏÆaìTÆçÙqÑ]4ƒäÅ
Å ]øá»iø³’ø³‚$Îö³ç»]ìøn»³†ºÖ$ÓöÜ» µƒXLZYZzg)WÆaÂicŠ{oƒìž
@Ze6¿™DƒñZy»ŒÛnçs„™ŠcYñX
280 ŘÆÐ0ŽWc]Îg>ZÂ{~*iwƒNZy~ÐWe: …eF³³ç]
D:?Õ™zZzg:?6ÕHYñX®ZΊŠŸøiø³¿»³×ô³Ûö³ç»áøæøŸøiö¿»×øÛöç»áø ~•ÛâcŠ
˜ÆÅzztìžZkÆfg=â»Z¨ã6Õƒ@ìXŽÅ»gc@`š
Ð(}(}ŒÛ2f•Hz{ΊZKÙÐZŠZ™D•?Éz{Qîg6
»g”{âwcâÁˆg]Å7~ΊÃÌ•áï™D•XÅ<åXEZZÝ1úÂ
yhZgzVª™g@6W@ìX~Z%ZYZzg¾!Yƒ„•áïƒD•XQH
2829
LL°Zóøg}ÂÄÑ<~ZzgZ©ÄŠ+ÆZk7g}e
~Ž$F+'ZðŒÛZgŠ~ˆìz{ΊìXZÝ~¸z{qì
T6uâtŠZg~6zZymfìZzgøg}Š+~ZkÅa»^
Š~ˆìXóó
LLZsxä°wzmƪxÃÌãŠ~ZÌŠ~ìXÑ<Ô
Z4ZÁÃZzg$š3ï EIGLgË»Ñ2Š+»7gZeJçZyƒ»
%œ~ìwªÄ°wzm쪰wzZ»s6FZqÂħ]
»ªxÍcZsxzZZy»ãŠ~»Ÿìóó
âpfZiLLZsx»çÙÂxóó
!ã^ZsòeZËZuZgZ£ò

30. (X ÚŠ³ß³‚]u³Û‚ _.wZx¾ðЩzZÑŸ3„~Yä»hŠZgì)
Šzu~§s¾dâzgc‹i0ÏÅ„:ÜsCÙz‰Ü*ñgBìÉ
Wy]Å»g~ÐÌ"Ç:gBìZzgâ"ŒVJV$Ëìžu"ìGIL
ŒÛdìžLó¬JVYñ( "— ]ôá$]Ö»³Ëø³Ï»³†ømø³Óø^•ömøÓöç»áöÒöË»†÷]E t~
Æ]ZtZ¨yÃâ-ϬJáYCìX
]! ]zŽZ ŸZ Z‹
n: ªZ‹Z
Îg>ZÂ{~ΊÅw#ÖÐ0Wc]»Z:tLZYz)WÆaì:žQy
ÆaŽ(}(}ŒÛ2f•X Å»gzVZzg@`zV
: ŽZ[
ghŠzŽ¼ÎŠ~ æøƒø…öæ»]Úø^eøÏôoøÚôàø]Ö†ôùeFç] ~¬ìž 278 Îg>ZÂ{We:
¾Ð¢Y^ìZzg¾ …eF³³³ç] ~Z+ÃðH7ž Zk¬ Ð!¹XìX
~280 ŘƙŠ~ˆìXÎg>ZÂ>We: …eF³ç] ¢NqìÉCÙnÆ Ð
•ÛâcŠžŒÛnpZ{Z¤ߊ„ƒÂZkÃúŠzXZkÐt%ZŠ¢žŒÛnpZ{ZÏ
ßg]~ߊ„ƒYìžMƒŠg„7Xtßg]Ë@`cÅ»gÆ
ã$ËìžZk»âw»gz!g~΃ZƒZzg¯g~îg6ŒÛnÅzZ3ZkÆ
ae:ƒXÉú»çnÂZÏÆaìTÆçÙqÑ]4ƒäÅ
Å ]øá»iø³’ø³‚$Îö³ç»]ìøn»³†ºÖ$ÓöÜ» µƒXLZYZzg)WÆaÂicŠ{oƒìž
@Ze6¿™DƒñZy»ŒÛnçs„™ŠcYñX
280 ŘÆÐ0ŽWc]Îg>ZÂ{~*iwƒNZy~ÐWe: …eF³³ç]
D:?Õ™zZzg:?6ÕHYñX®ZΊŠŸøiø³¿»³×ô³Ûö³ç»áøæøŸøiö¿»×øÛöç»áø ~•ÛâcŠ
˜ÆÅzztìžZkÆfg=â»Z¨ã6Õƒ@ìXŽÅ»gc@`š
Ð(}(}ŒÛ2f•Hz{ΊZKÙÐZŠZ™D•?Éz{Qîg6
»g”{âwcâÁˆg]Å7~ΊÃÌ•áï™D•XÅ<åXEZZÝ1úÂ
yhZgzVª™g@6W@ìX~Z%ZYZzg¾!Yƒ„•áïƒD•XQH
2829
LL°Zóøg}ÂÄÑ<~ZzgZ©ÄŠ+ÆZk7g}e
~Ž$F+'ZðŒÛZgŠ~ˆìz{ΊìXZÝ~¸z{qì
T6uâtŠZg~6zZymfìZzgøg}Š+~ZkÅa»^
Š~ˆìXóó
LLZsxä°wzmƪxÃÌãŠ~ZÌŠ~ìXÑ<Ô
Z4ZÁÃZzg$š3ï EIGLgË»Ñ2Š+»7gZeJçZyƒ»
%œ~ìwªÄ°wzm쪰wzZ»s6FZqÂħ]
»ªxÍcZsxzZZy»ãŠ~»Ÿìóó
âpfZiLLZsx»çÙÂxóó
!ã^ZsòeZËZuZgZ£ò

31. ŒÛnhzZáÅ»gzVc@`zV»œDƒ@ìžz{šÃÑi˜ŒÛnÆ
‚BZŸ†ÌZŠZ™,XÕÅZqßg]tÌìžZq•Û&)ªš(ÆœÅ
J-ƒZzgŠzu}ÆœÅÃðJ-:ƒX
šÜsˆgCZzgQŒÛçV6„Ίzßw7™DÉÜ°ŒÛçV6ÌΊ
zßw™D•X}Ó#Ö¶VÐŽŒÛngìZy~Ð(Z8~î OŠÃqZzg
)FªC»ñVÆaƒ@ìXZϧb¬xà~̶VÐk*]Åyó
ÎZg-VÆ”wóywZUXY]ÅyhZg~Zzg•áŠ~Ò{ÅgÎxz){ÆaŒÛn
f•X
:nZ‹Z ŠzuZ
¢Y^ìX …eFç] :ßXÍcoƒ …eFç] ~¹ŠžŠkak 130 Îg{Ww/ZyWe
ŽZ[:
Îg{WÁ/ZyÅtWekèZuƈ3ó~~*iwƒðXZkWe~ŠcŠ
280- ¬ˆg~ŠzgÆaåXΊŘƻî¬9ó~~Îg>ZÂ{Wc]
~*iwƒZXÎg{WÁ/ZyÅZkWe~ˆg~ŠzgÆa¬ŠcŠå 275 zg Z
žÎŠ%“ªÎŠŠgΊ¢ghŠzXËZ,¬ÃŽˆg~ŠzgÆaƒ‡âycŠ?
à 43 7¯cYYX}ÑZ[Åw#ÖÆçA~ÃðÎg{¨YÅWe:
ŒÛd#ÖYƒ²? )úiÆ ŸøiøÏ»†øeöç]]Ö’$×Fçéøæø]øÞ»jöÜ»‰öÓø^…Fp! Š?7¯Yž
ºÅqª~ƒ(XÃðt7ÈYž~ZkWeƬ6¿™DƒñÜs
˜ÆÆçA~î¬ úiÆZz‡]~ÑZ[âÙÐZA[™zVÇXΊÅ
Ž¼ÎŠ~Ðg{Š æøƒø…öæ»]Úø³^eø³Ïô³oøÚôàø]Ö†ôùeFç] ~ìž 278 Îg>ZÂ{We
zZ:h»,Zgì6ž (Principal ìz{ghŠzXŒÛnŠZgÜsZÝig)
ªvg}aÜsZÝ » Êø×øÓöÜ»…öðö滌ö]øÚ»çø]ÖôÓöÜ ~•ÛâcŠ 279 Îg{•{We
Ÿø igìXZÝigÐiZZŽÌ1Yñz{Õì6žZkWe~•ÛâcŠ
D:?Õ™zZzg:?6ÕHYñX iø¿»×ôÛöç»áøæøŸøiö¿»×øÛöç»áø
'×h'ZVþWe~LL(kmkΊ:ßóóÆZÖp%“ΊÅÙ®Zzg¶VªCÙ
44 ™äÆa•:žoƒuJΊhÆŽZiÆaXÎg{âZ{We:
~Zv¬»•ÛâyìžLL÷~Wc]Æ$áðh~7:ßóóXZk»Èt
ìžZv¬ÅWc]Æ$á~pZ{X„Š*¾àYñZkÅÃðw7X
ZkWe»t|x7žZvÅWc]Æ$á~ðh~7¢wZxZzgicŠ{7
¢Y^ìX
Ê?¯™Z¤ÃðΛGŠÃY^KÑÂtÌŠg„ 130 Îg{WÁ/ZyWe:
7YVžÎŠÐq݃äzZàg¶ÃŠz!g{ŒÛnÆîg6Š¶ÐΛ%“
„Åßg]aZƒYñÏX
:nZ‹Z ŠZ
¬ä'wŒÛZgŠcìX v 7ÉßÆi%}~W@ì&Z …eFç] ¶V»»x
ŽZ[:
ߪˆg]7™DÉÜsŒÛnŠï•Xˆg]~uâñZzgZâY» š
zK㜙*7CìZzgËz‰ÜÌ 6 AŠ+ƒ@ìóœÆ”wÆaf
(ƒ@ìXšŽŒÛnŠêìZk~tZñg70ñ Risk vy»Z06)
ìX …eFç] gt„ z YDXšŠb‰ŒÛn6ÑiòZŸ±»ÔÇgƒ@ìZ
3031

32. ŒÛnhzZáÅ»gzVc@`zV»œDƒ@ìžz{šÃÑi˜ŒÛnÆ
‚BZŸ†ÌZŠZ™,XÕÅZqßg]tÌìžZq•Û&)ªš(ÆœÅ
J-ƒZzgŠzu}ÆœÅÃðJ-:ƒX
šÜsˆgCZzgQŒÛçV6„Ίzßw7™DÉÜ°ŒÛçV6ÌΊ
zßw™D•X}Ó#Ö¶VÐŽŒÛngìZy~Ð(Z8~î OŠÃqZzg
)FªC»ñVÆaƒ@ìXZϧb¬xà~̶VÐk*]Åyó
ÎZg-VÆ”wóywZUXY]ÅyhZg~Zzg•áŠ~Ò{ÅgÎxz){ÆaŒÛn
f•X
:nZ‹Z ŠzuZ
¢Y^ìX …eFç] :ßXÍcoƒ …eFç] ~¹ŠžŠkak 130 Îg{Ww/ZyWe
ŽZ[:
Îg{WÁ/ZyÅtWekèZuƈ3ó~~*iwƒðXZkWe~ŠcŠ
280- ¬ˆg~ŠzgÆaåXΊŘƻî¬9ó~~Îg>ZÂ{Wc]
~*iwƒZXÎg{WÁ/ZyÅZkWe~ˆg~ŠzgÆa¬ŠcŠå 275 zg Z
žÎŠ%“ªÎŠŠgΊ¢ghŠzXËZ,¬ÃŽˆg~ŠzgÆaƒ‡âycŠ?
à 43 7¯cYYX}ÑZ[Åw#ÖÆçA~ÃðÎg{¨YÅWe:
ŒÛd#ÖYƒ²? )úiÆ ŸøiøÏ»†øeöç]]Ö’$×Fçéøæø]øÞ»jöÜ»‰öÓø^…Fp! Š?7¯Yž
ºÅqª~ƒ(XÃðt7ÈYž~ZkWeƬ6¿™DƒñÜs
˜ÆÆçA~î¬ úiÆZz‡]~ÑZ[âÙÐZA[™zVÇXΊÅ
Ž¼ÎŠ~Ðg{Š æøƒø…öæ»]Úø³^eø³Ïô³oøÚôàø]Ö†ôùeFç] ~ìž 278 Îg>ZÂ{We
zZ:h»,Zgì6ž (Principal ìz{ghŠzXŒÛnŠZgÜsZÝig)
ªvg}aÜsZÝ » Êø×øÓöÜ»…öðö滌ö]øÚ»çø]ÖôÓöÜ ~•ÛâcŠ 279 Îg{•{We
Ÿø igìXZÝigÐiZZŽÌ1Yñz{Õì6žZkWe~•ÛâcŠ
D:?Õ™zZzg:?6ÕHYñX iø¿»×ôÛöç»áøæøŸøiö¿»×øÛöç»áø
'×h'ZVþWe~LL(kmkΊ:ßóóÆZÖp%“ΊÅÙ®Zzg¶VªCÙ
44 ™äÆa•:žoƒuJΊhÆŽZiÆaXÎg{âZ{We:
~Zv¬»•ÛâyìžLL÷~Wc]Æ$áðh~7:ßóóXZk»Èt
ìžZv¬ÅWc]Æ$á~pZ{X„Š*¾àYñZkÅÃðw7X
ZkWe»t|x7žZvÅWc]Æ$á~ðh~7¢wZxZzgicŠ{7
¢Y^ìX
Ê?¯™Z¤ÃðΛGŠÃY^KÑÂtÌŠg„ 130 Îg{WÁ/ZyWe:
7YVžÎŠÐq݃äzZàg¶ÃŠz!g{ŒÛnÆîg6Š¶ÐΛ%“
„Åßg]aZƒYñÏX
:nZ‹Z ŠZ
¬ä'wŒÛZgŠcìX v 7ÉßÆi%}~W@ì&Z …eFç] ¶V»»x
ŽZ[:
ߪˆg]7™DÉÜsŒÛnŠï•Xˆg]~uâñZzgZâY» š
zK㜙*7CìZzgËz‰ÜÌ 6 AŠ+ƒ@ìóœÆ”wÆaf
(ƒ@ìXšŽŒÛnŠêìZk~tZñg70ñ Risk vy»Z06)
ìX …eFç] gt„ z YDXšŠb‰ŒÛn6ÑiòZŸ±»ÔÇgƒ@ìZ
3031

33. Å°p …eF³ç] ZÎìZ.Ð äm çgsZÅWy~|]?·Ã™r
™DƒñZg•á›t~ÜHì:
ìóó …ôeFç] ŒÛn61ŠZŸ† ZZ ÒöØ%Îø†»šõqø†$Úøß»ËøÃøè÷Êøãöçø…ôeFç]
Æi%}~W@ìXZk|Ãz{¿ÌY} …eF³ç] 7É Å<åXEZ¶V»»xß
ìŽ"5½5ë EEEY
ÆAŠ+Æ!g}~ÒÏ¥â]g‚ìXŽßvY…1w
Wc ~Zk§bÐ 275 ÃߌÛZgŠ}gì•Zy»f™Îg{•{We: …eFç] Æš
ŧbì(X …eFç] )ZrV乞ßÌ Îø³³^Öö³ç»•]ôÞ$³Ûø³³^]Ö»føn»ÄöÚô%»Øö]Ö†ôùeFç] ì
)ZväßÃ'wZzgΊà æø]øuø³Ø$]Ö³×#³äö]Ö»føn»³Äøæøuø†$Ýø]Ö†ôùeFç] ŽZ[~Zvä•Ûâc
¹ŠìXÅ<åXEZ Òø³³Ëù$³³^… wZxŒÛZgŠcì(XZ‹We~Zk§bÅ!]ìzZßVÃ
Zk§b»¸w¬6ŠÑª™@ìX m –w|]ñÑ*ZÑsZåâ~
Z‹Zn: åa
Æi%}~7W@X …eFç] QŒÛçV6Ί / ˆgC
ŽZ[:
ŒÛnˆgCƒóQƒcfZC¢zg]ÆaƒZ¤ZkÆçA~HznÐ
ìZzgHzn6ÕìXÜ°ŒÛçVŧbˆgC …eFç] ZŸ†zßwHYg;ìÂt
ÌŠzZ±gÐÕ»Z06ƒ@ì: ZzgQŒÛçV~
DŽÅ»gc@`šÐΊ~ŒÛnf•z{Qîg6»g”{âwcâw 1
ˆg]Å7~ΊÃÌ•áï™D•XZkÐŽµðƒCìZk»1ú
™g@6W@ìX
cˆgCŒÛnhzZáÉZz‡]vyƒY@ìpZКÌÛn DQ 2
Æ‚BÑiòZŸ†QÌZŠZ™*7@쎞ÕìX
vZVZ‹Zn: 0
ZvÌ•Ûâ@ìž=ŒÛnŠzÔ~»(JmJ™ßNƒVÇX
ŽZ[:
ZvÊbYäzZáŒÛnZzgÈzVÊbYäzZáŒÛn~•ÛttìžÈ{
Z`Zzg¢zg]qƒ@ì²ZvCÙnÅZô`Ð0uìXZväZLa
ŒÛnÅZ˜bZ,ÈzVÅj,Z‚ÛZðÆaZEwÅìŽZvÅpÛŠ~Æ
aZkÅgZ{~ZÎt™D•XŠgZÝZvΊpg~û™äÆaÈzVì
ŠêìžÃåuâtOñΊ6ŒÛnŠ¶ÆZvÅgZ{~ya™zXŽÃðZ(
™}Çz{âqèZ¨ãÆagØ»‚ây™}ÇóÅ<åXEZZvZkyaÃZLfóŒÛn
ŒÛZgŠ}™Íc¢Š;ã™Z@ìžz{ZÐgzièª#Ö(JmJ™ßNñÇXZv
ÆZkz°}ÐËÌZ¨y6Õ7ƒÇ²Š*~ŽßvΊf•z{
Šg|â»Z¨ã6Õ™gìƒD•X
ÙZ‹Zn:
ÆŸÃÓä•~Æfg=*Ç™*<t~ÆÜsìX …eFç]
ŽZ[:
äa äçgsZÅWy~’k•ÛâcìžÑ™* m |]?·Ã™r
[ÁZߊZq~ΊÅw#ÖƇâyÃgZò™Dƒñ•Ûâct‡ây7g~
Z¨+ÅyZzg&bz#bÆaìÅ<åXEZZk»Z:t:Üs›âVÉ)
3233

34. Å°p …eF³ç] ZÎìZ.Ð äm çgsZÅWy~|]?·Ã™r
™DƒñZg•á›t~ÜHì:
ìóó …ôeFç] ŒÛn61ŠZŸ† ZZ ÒöØ%Îø†»šõqø†$Úøß»ËøÃøè÷Êøãöçø…ôeFç]
Æi%}~W@ìXZk|Ãz{¿ÌY} …eF³ç] 7É Å<åXEZ¶V»»xß
ìŽ"5½5ë EEEY
ÆAŠ+Æ!g}~ÒÏ¥â]g‚ìXŽßvY…1w
Wc ~Zk§bÐ 275 ÃߌÛZgŠ}gì•Zy»f™Îg{•{We: …eFç] Æš
ŧbì(X …eFç] )ZrV乞ßÌ Îø³³^Öö³ç»•]ôÞ$³Ûø³³^]Ö»føn»ÄöÚô%»Øö]Ö†ôùeFç] ì
)ZväßÃ'wZzgΊà æø]øuø³Ø$]Ö³×#³äö]Ö»føn»³Äøæøuø†$Ýø]Ö†ôùeFç] ŽZ[~Zvä•Ûâc
¹ŠìXÅ<åXEZ Òø³³Ëù$³³^… wZxŒÛZgŠcì(XZ‹We~Zk§bÅ!]ìzZßVÃ
Zk§b»¸w¬6ŠÑª™@ìX m –w|]ñÑ*ZÑsZåâ~
Z‹Zn: åa
Æi%}~7W@X …eFç] QŒÛçV6Ί / ˆgC
ŽZ[:
ŒÛnˆgCƒóQƒcfZC¢zg]ÆaƒZ¤ZkÆçA~HznÐ
ìZzgHzn6ÕìXÜ°ŒÛçVŧbˆgC …eFç] ZŸ†zßwHYg;ìÂt
ÌŠzZ±gÐÕ»Z06ƒ@ì: ZzgQŒÛçV~
DŽÅ»gc@`šÐΊ~ŒÛnf•z{Qîg6»g”{âwcâw 1
ˆg]Å7~ΊÃÌ•áï™D•XZkÐŽµðƒCìZk»1ú
™g@6W@ìX
cˆgCŒÛnhzZáÉZz‡]vyƒY@ìpZКÌÛn DQ 2
Æ‚BÑiòZŸ†QÌZŠZ™*7@쎞ÕìX
vZVZ‹Zn: 0
ZvÌ•Ûâ@ìž=ŒÛnŠzÔ~»(JmJ™ßNƒVÇX
ŽZ[:
ZvÊbYäzZáŒÛnZzgÈzVÊbYäzZáŒÛn~•ÛttìžÈ{
Z`Zzg¢zg]qƒ@ì²ZvCÙnÅZô`Ð0uìXZväZLa
ŒÛnÅZ˜bZ,ÈzVÅj,Z‚ÛZðÆaZEwÅìŽZvÅpÛŠ~Æ
aZkÅgZ{~ZÎt™D•XŠgZÝZvΊpg~û™äÆaÈzVì
ŠêìžÃåuâtOñΊ6ŒÛnŠ¶ÆZvÅgZ{~ya™zXŽÃðZ(
™}Çz{âqèZ¨ãÆagØ»‚ây™}ÇóÅ<åXEZZvZkyaÃZLfóŒÛn
ŒÛZgŠ}™Íc¢Š;ã™Z@ìžz{ZÐgzièª#Ö(JmJ™ßNñÇXZv
ÆZkz°}ÐËÌZ¨y6Õ7ƒÇ²Š*~ŽßvΊf•z{
Šg|â»Z¨ã6Õ™gìƒD•X
ÙZ‹Zn:
ÆŸÃÓä•~Æfg=*Ç™*<t~ÆÜsìX …eFç]
ŽZ[:
äa äçgsZÅWy~’k•ÛâcìžÑ™* m |]?·Ã™r
[ÁZߊZq~ΊÅw#ÖƇâyÃgZò™Dƒñ•Ûâct‡ây7g~
Z¨+ÅyZzg&bz#bÆaìÅ<åXEZZk»Z:t:Üs›âVÉ)
3233

35. ÆΊû h ä¯g~îg6ZLR|]„k a ÇV6̃ÇXW
™ä»Z´y•ÛâcX®ZtIŠg„7žÎŠÅ˜ÆÆagc4•~»
ZEw<ÆÜsìX
äƒZÅWy~Òy•ÛâcžÎg>ZÂ{Å m ¦Z1ZÑdñŠzŠ~™r ñÑ*
Æ4zwƈZsòÓ#ÖÆŠZ]}~Ί~»gz!gZq¯]Zg~ 279 We
äZL’)é NOwÆfg=WÇ{ a ŠX²[ƎΊ3D¸óQyÃÑ `x0
•ÛâŠcžZ¤Z[z{ZkAŠ+Ð!i:WñóÂZyÆÜskÅYñÏX•Zy
Æ|ÇVÃZZsòÓ#ÖÆ•Z0gzãpŠUg~Š~ˆóÂç@}~
¥ô™Š~ˆžZ¤?Ί~»gz!g™zÐóÂç@{ZƒYñÇZzgøg}vg}
äZZ3ÿXL¤`ÐZð»ç@{ a ŠgxyqÅïGLk‡ìƒYñÏXW
»¸w h HÂZk~Ί~AŠ+Æ{8ÅÑoÎðX|]†Zv0„k
잎¿Zsò•~Ίghä6»g:ƒÂÑz‰ÜÅfóŠZg~ìž
z{ZkÐÂ/™ZñZzg!i:WäÅßg]~ZkŤŠyZhZŠ})Z0M(X
‚ÂZVZ‹Zn:
ÆiâäZzgøg}iâäÆΊ~•ÛtìXZkiâä~»gz!g~Ί aÑ
:åX
ŽZ[:
ZsxZËÚÃwZxŒÛZgŠêìÂZkÅÓxßgÂVÃwZxŒÛZgŠêìŽw~
ŽñÆ6§jÔJÙÅ]h 7W$Ë•XOVpHÑZ[Å5ZlxÔ
(Å5ZlxÃÜsZkãŠ6Y^ŒÛZgŠcYYìž Pigs ªVZzg^ð NgzV)
Æiâä~Ì»gz!g~ a Æiâä~tƒñŽŠ:¸XZ%Ñ aÑ
£œÆaΊ~ŒÛçV»AŠ+ƒ@åX¤`Æ´º~t»gz!g¹
Åt]ƼgÐI|]„k0 a (}eä6ƒ@åXÑ™*
†ZÅ.ŒÒïEÔ|]{-0z6Zzg|]¢ygèZveΊ6»gz!g~ŒÛ2Šc
™D¸X
W^ZVZ‹Zn:
!bgŸq~ů6Ί~AŠ+Nq7X
ŽZ[:
ŒÛnŠZgZzgŒÛnpZ{ËçA6)eìZk~Zq•Û&ÃÂœÅJ-ìZzg
Šzu}ÆaZ+ÃðJ-7(Z¤!ëgŸqƒÌYNÂÌtgŸq~
Ί~AŠ+ÃY^7ŒÛZgŠ}$ËX!bgŸq~Zsx~ËÚÆ'w
zwZxƒä»£g7XHŠzZ•ÛZŠÆ!ëgZèƒä6ë½64ci*ÃY^ŒÛZg
ŠcYYì?
âZVZ‹Zn:
B@ìX …eFç] ZŠZñŒÛn~'×húÆún1YäzZÑZŸ†
ŽZ[:
ÅpŠ‚•°pìžLLZŠZñŒÛn~'×húÆún1YäzZÑ …eF³³³³ç] t
ìZzgZk»úÐ …eF³ç] B@ìóóŒÛn61YäzZÑÃðÌZŸ† …eF³ç] ZŸ†
Ãðm7X
3435

36. ÆΊû h ä¯g~îg6ZLR|]„k a ÇV6̃ÇXW
™ä»Z´y•ÛâcX®ZtIŠg„7žÎŠÅ˜ÆÆagc4•~»
ZEw<ÆÜsìX
äƒZÅWy~Òy•ÛâcžÎg>ZÂ{Å m ¦Z1ZÑdñŠzŠ~™r ñÑ*
Æ4zwƈZsòÓ#ÖÆŠZ]}~Ί~»gz!gZq¯]Zg~ 279 We
äZL’)é NOwÆfg=WÇ{ a ŠX²[ƎΊ3D¸óQyÃÑ `x0
•ÛâŠcžZ¤Z[z{ZkAŠ+Ð!i:WñóÂZyÆÜskÅYñÏX•Zy
Æ|ÇVÃZZsòÓ#ÖÆ•Z0gzãpŠUg~Š~ˆóÂç@}~
¥ô™Š~ˆžZ¤?Ί~»gz!g™zÐóÂç@{ZƒYñÇZzgøg}vg}
äZZ3ÿXL¤`ÐZð»ç@{ a ŠgxyqÅïGLk‡ìƒYñÏXW
»¸w h HÂZk~Ί~AŠ+Æ{8ÅÑoÎðX|]†Zv0„k
잎¿Zsò•~Ίghä6»g:ƒÂÑz‰ÜÅfóŠZg~ìž
z{ZkÐÂ/™ZñZzg!i:WäÅßg]~ZkŤŠyZhZŠ})Z0M(X
‚ÂZVZ‹Zn:
ÆiâäZzgøg}iâäÆΊ~•ÛtìXZkiâä~»gz!g~Ί aÑ
:åX
ŽZ[:
ZsxZËÚÃwZxŒÛZgŠêìÂZkÅÓxßgÂVÃwZxŒÛZgŠêìŽw~
ŽñÆ6§jÔJÙÅ]h 7W$Ë•XOVpHÑZ[Å5ZlxÔ
(Å5ZlxÃÜsZkãŠ6Y^ŒÛZgŠcYYìž Pigs ªVZzg^ð NgzV)
Æiâä~Ì»gz!g~ a Æiâä~tƒñŽŠ:¸XZ%Ñ aÑ
£œÆaΊ~ŒÛçV»AŠ+ƒ@åX¤`Æ´º~t»gz!g¹
Åt]ƼgÐI|]„k0 a (}eä6ƒ@åXÑ™*
†ZÅ.ŒÒïEÔ|]{-0z6Zzg|]¢ygèZveΊ6»gz!g~ŒÛ2Šc
™D¸X
W^ZVZ‹Zn:
!bgŸq~ů6Ί~AŠ+Nq7X
ŽZ[:
ŒÛnŠZgZzgŒÛnpZ{ËçA6)eìZk~Zq•Û&ÃÂœÅJ-ìZzg
Šzu}ÆaZ+ÃðJ-7(Z¤!ëgŸqƒÌYNÂÌtgŸq~
Ί~AŠ+ÃY^7ŒÛZgŠ}$ËX!bgŸq~Zsx~ËÚÆ'w
zwZxƒä»£g7XHŠzZ•ÛZŠÆ!ëgZèƒä6ë½64ci*ÃY^ŒÛZg
ŠcYYì?
âZVZ‹Zn:
B@ìX …eFç] ZŠZñŒÛn~'×húÆún1YäzZÑZŸ†
ŽZ[:
ÅpŠ‚•°pìžLLZŠZñŒÛn~'×húÆún1YäzZÑ …eF³³³³ç] t
ìZzgZk»úÐ …eF³ç] B@ìóóŒÛn61YäzZÑÃðÌZŸ† …eF³ç] ZŸ†
Ãðm7X
3435

37. ~•ÛâcŠ 279 Îg>ZÂ{We
ªZ¤?ΊÐÂ/™ßÂvg}aÜs ZZ æø]ôá»iöf»jö³Ü»Êø³×ø³Óö³Ü»…öðö滌ö]øÚ»çø]ÖôÓöÜ»
ÒöØ%Îø†»šõqø†$Úøß»ËøÃøè÷ »Zg•áŠÜHŠìž a ZÝigìóóXZkÐIÑZ™x
Å …ôeFç] ì(XZkZg•á›t~ÅgzÝ~•Yä …ôeFç] )ŒÛn61ŠZŸ† Êøãöçø…ôeFç]
°p-VÒyÅì:
âöçø]Ö»Ïø†»šö]Ö»ÛøŽ»†ö滽öÊôn»äô]Ÿ»øqøØöæø‡ômø^•øéöÚø^ÙõÂø×øo]Ö»ÛöŠ»jøÏ»†ôšô
°Z©xZÅWy( m q’ù^” )Zâx
LLZ(ŒÛnŽË•ŠÆaZkÑo6ŠcYñžHznZkÃZÝâw~
ZŸ†Æ‚BZŠZ™}Çóóó
: ŠÎZVZ‹Zn
X ¿ìZzgto~Z*gÅ»!¯ƒÇ &ÿEL ‡* Æ!g}~Ѧ°Zª»ê …eFç]
ŽZ[:
Ð0êŒÛWyzugÅ …eF³³³ç] t!]ÂzZãƒ_ìžzùѦ°Zª»
gzÝ~Ñ<ÆÐ_.ìXtIžÑ<Æ_.Ÿ»Îf*‡&ÿEL¿
~ΊÅw#Ö 130 ìóÑ<6°xZOŠZzgÝ¬ìXÎg{WÁ/ZyWe:
Òy™äƈZ‹We~w!ïGLΊ»¬:â+zZßVû•Û¹ŠìX¸zz
ìž•g¬ŒÛWyZâxŒÛ?ò»¸wì:LLΊÃ'wKzZá%DZzgÜsh
zZáZsòÓ#ÖÆ!©•óó®ZΊÆ{8Ð0ŒÛWyzugÆZ©x
Ã*‡&ÿEL¿I:Üs¬ìÉZ¨âVŧsÐZvZzgZkÆgÎwÆ‚B
kYg~gp»Z´yìX
gÅ7“ÏÉZvÆZ©xÆÎfÅzzÐi} * ΊÆ{8Ðo~Z
(X›*È0Îy 66 ZzgW•yÐZvÅg¤Zzg'QªCÙƒVÏ)ZÓZ{We
ÅZÒeÅ"iÅzzŠ+ÆZ©xÐŒz]7ÉÑdZzgêìXZ¤
öÆ‚BÓxfgZùZšrÐΊÅw#ÖóŠ*~ΊÅzzЪCÙƒäzZà
¶&ZzgWy]~Zkk{Å'~wZÐWÇ{HY@gìÂÑi˜ßÍVÅŠ´
)]ËZgƒÏZzgz{Zkk{Ðv»³Äf™BÐX
ΊÆ{8Ðo~Z*gÅ7“ÏÉF§bÆ)biƒVÐX}
~Z0gzÈoΊÅZŠZ5Æa Y2003 YX 2002 zùP'Zñ‚w
°œ•XZ¤Ί~A 25.8 Zg[gz9–K‰•ŽžÀP» 191.8
P» Š+û™ŠcYñÂëÄ(}ŒÛnÆ1úÐWiZŠƒYNÐZzg
Zg[»Äg{:Üs7gZƒYñÇÉZŸ°g¶ÌŠø[ƒÏX 162
ŠgƒZVZ‹Zn:
fñ™Zx•ŠwÆîg6šÎŠu»ZqÂx‡ì™ÆŠ3NX
ŽZ[:
)Ί~ÂÄuƪxÆa¦¸'ÎV~Ó!ïGL0ÎyÆi%æGLôZã
FÌV‡ìÅIXÅ»g™Š{g7g›Ó#ÖÆ0kñŽŠ•XZyˆV
~fñ™ZxZzgâCÙ+uŠzâV•áï¸X®ZÃ~R6fYzâCÙ+ä
Ó#ÖÃ)Ί~uÆÂxÆagÉð•ÛZ뙊~ìX
˜VJ)Ί~uÆÂxÆiÎf»mìÂt»xÓ#ÖÆi%æGLôZã„
3637

38. ~•ÛâcŠ 279 Îg>ZÂ{We
ªZ¤?ΊÐÂ/™ßÂvg}aÜs ZZ æø]ôá»iöf»jö³Ü»Êø³×ø³Óö³Ü»…öðö滌ö]øÚ»çø]ÖôÓöÜ»
ÒöØ%Îø†»šõqø†$Úøß»ËøÃøè÷ »Zg•áŠÜHŠìž a ZÝigìóóXZkÐIÑZ™x
Å …ôeFç] ì(XZkZg•á›t~ÅgzÝ~•Yä …ôeFç] )ŒÛn61ŠZŸ† Êøãöçø…ôeFç]
°p-VÒyÅì:
âöçø]Ö»Ïø†»šö]Ö»ÛøŽ»†ö滽öÊôn»äô]Ÿ»øqøØöæø‡ômø^•øéöÚø^ÙõÂø×øo]Ö»ÛöŠ»jøÏ»†ôšô
°Z©xZÅWy( m q’ù^” )Zâx
LLZ(ŒÛnŽË•ŠÆaZkÑo6ŠcYñžHznZkÃZÝâw~
ZŸ†Æ‚BZŠZ™}Çóóó
: ŠÎZVZ‹Zn
X ¿ìZzgto~Z*gÅ»!¯ƒÇ &ÿEL ‡* Æ!g}~Ѧ°Zª»ê …eFç]
ŽZ[:
Ð0êŒÛWyzugÅ …eF³³³ç] t!]ÂzZãƒ_ìžzùѦ°Zª»
gzÝ~Ñ<ÆÐ_.ìXtIžÑ<Æ_.Ÿ»Îf*‡&ÿEL¿
~ΊÅw#Ö 130 ìóÑ<6°xZOŠZzgÝ¬ìXÎg{WÁ/ZyWe:
Òy™äƈZ‹We~w!ïGLΊ»¬:â+zZßVû•Û¹ŠìX¸zz
ìž•g¬ŒÛWyZâxŒÛ?ò»¸wì:LLΊÃ'wKzZá%DZzgÜsh
zZáZsòÓ#ÖÆ!©•óó®ZΊÆ{8Ð0ŒÛWyzugÆZ©x
Ã*‡&ÿEL¿I:Üs¬ìÉZ¨âVŧsÐZvZzgZkÆgÎwÆ‚B
kYg~gp»Z´yìX
gÅ7“ÏÉZvÆZ©xÆÎfÅzzÐi} * ΊÆ{8Ðo~Z
(X›*È0Îy 66 ZzgW•yÐZvÅg¤Zzg'QªCÙƒVÏ)ZÓZ{We
ÅZÒeÅ"iÅzzŠ+ÆZ©xÐŒz]7ÉÑdZzgêìXZ¤
öÆ‚BÓxfgZùZšrÐΊÅw#ÖóŠ*~ΊÅzzЪCÙƒäzZà
¶&ZzgWy]~Zkk{Å'~wZÐWÇ{HY@gìÂÑi˜ßÍVÅŠ´
)]ËZgƒÏZzgz{Zkk{Ðv»³Äf™BÐX
ΊÆ{8Ðo~Z*gÅ7“ÏÉF§bÆ)biƒVÐX}
~Z0gzÈoΊÅZŠZ5Æa Y2003 YX 2002 zùP'Zñ‚w
°œ•XZ¤Ί~A 25.8 Zg[gz9–K‰•ŽžÀP» 191.8
P» Š+û™ŠcYñÂëÄ(}ŒÛnÆ1úÐWiZŠƒYNÐZzg
Zg[»Äg{:Üs7gZƒYñÇÉZŸ°g¶ÌŠø[ƒÏX 162
ŠgƒZVZ‹Zn:
fñ™Zx•ŠwÆîg6šÎŠu»ZqÂx‡ì™ÆŠ3NX
ŽZ[:
)Ί~ÂÄuƪxÆa¦¸'ÎV~Ó!ïGL0ÎyÆi%æGLôZã
FÌV‡ìÅIXÅ»g™Š{g7g›Ó#ÖÆ0kñŽŠ•XZyˆV
~fñ™ZxZzgâCÙ+uŠzâV•áï¸X®ZÃ~R6fYzâCÙ+ä
Ó#ÖÃ)Ί~uÆÂxÆagÉð•ÛZ뙊~ìX
˜VJ)Ί~uÆÂxÆiÎf»mìÂt»xÓ#ÖÆi%æGLôZã„
3637

39. ‡ìHYYìXZkÅ8iïELfszŽ{•:
DZ¤u»g~u64~Ί~ÂxYg~gìZzg)u»g~îg6)Ί~ÂÄ 1
u`äÅÃÒÅYñÂtŠ/*»xƒYñÇX)Ί~u~œ
Æ‚Bvy»Z06̃@ìó®ZúZxÅZÒeÆuâñ»gcΊ~
s„ƒÇZzg)u»g~îg6‡ìƒäzZÑ)Ί~Âx*»x uŧ
ƒYñÇX
2D¬%îGZÜku»g~ôZã~‡ìÂx6ZLuâñÅ™«6ZOŠ™D•
)u»g~â1CµVäâè~úZxÆZOŠÃ”hŠ_àcìX®ZZ[
)u»g~îg6Ëâ1CÂxÃ`*½ã*eìX
3DÓ#Ö„ÆZ(g~z{Óxz‚bZzgfgZù•XÆfg=ì-ZzgŠð»
Š„ÅÃ@VÃgz»YYìZzgZy`Zì»Zg‚[™äzZßVÇâyŤÄ
~Ñ™wZŠ~Y$ËìX
4DΊ»Z-ZŠZigzñŒÛWyz<CÙ›y»•ÛnìX®ZÓ#ÖZkÅfó
Ó!ïGL0Îyà 38 ŠZg~Üsfñ™Zx67eZw$ËXŠ2g0ÎyÅŠi
0È™Cìžz{¢Zi¢oÅuÃΊÐ0u™}XZo~
ŠvÓxZ½¦ÂxóÓ#ÖÅôZã~^gì•ÂZsò/g›0ÎyÅ
Ç™}X Ó#ÖÅf)ŠZg~ìžz{o~)Ί~u»ÂxÌ*
gƒZVZ‹Zn: !
ZJçÑ{Zsò7ƒ@uÐΊ»{Ø7HYYX
ŽZ[:
t!]Šg„ìžZ©xÑ<6¿ópZ{Zy»mi0ÏÆËÌ%Ѓ
Æ%e7XZÏaŒÛWy™*~ZÌZ©xÑ<»ÒyW@ì i³³Ï³çFp
iÏçFp zgZ•ÛZŠ~ ÅSÅYCìXZ%çÑ}ÃZsò¯äZ iÏçFp ‚B„
g•á›!g~¬ì: ~Z 41 aZ™äÅZzAf)ŠZg~Ó#ÖÅìXÎgÒeWe
LLZ¤ëQy)Z3ÿXLZZy(Ãi}~Ó#Ö«™Š,Âz{úi‡ì™,Ðó
i2>ZŠZ™,Ðó(»ñV»¬Š,ÐZzg'}»ñVÐgzXÐXóó
ZÓ#Ö„fgZùZšrÆfg)"§ðZzgwZxpg~ŧsgZá™ä
ùaZƒÇXøg} iÏçFp zZà55ZŠVÅízZ•á®™g„ƒÂZ•ÛZŠ~ZZyz
ÑdìXZ¤ÓxfgZù z oÅZÒeŠ+ÅŠÔZzg!©7ÉZyÅ"iÅz
ZšþrÆfg)ßÍVÃŒÛWyz<ÅgzÝ~Z©xÑ<ÔZy6¿ÅZÌZzg
ZyÅÜszgi~Æv*]ÐWÇ{HYñÂÑi˜çÑ}~}Zp°ZzgŠ+
ŠZg~aZƒÏZzguÉCÙˆ~Ñ<6¿ÅgZ{ûZgƒÏX
¾ƒZVZ‹Zn:
~¶Å (Value) ÅzzÐgz9ÅŠg (Inflation) ΊZÝ~Z•ÛZ¹ig
ˆ°»fg=ìX
ŽZ[:
Z•ÛZ¹igÅãŠ~zzÌΊ„ìX6ž¦¸Tg~f™HŠžÎŠ„ÅzzÐ
†V~ZŸ†ZzgßÍVŸ]èyh~¶zZµƒCìXQtΊ„ìŽuât
3839

40. ‡ìHYYìXZkÅ8iïELfszŽ{•:
DZ¤u»g~u64~Ί~ÂxYg~gìZzg)u»g~îg6)Ί~ÂÄ 1
u`äÅÃÒÅYñÂtŠ/*»xƒYñÇX)Ί~u~œ
Æ‚Bvy»Z06̃@ìó®ZúZxÅZÒeÆuâñ»gcΊ~
s„ƒÇZzg)u»g~îg6‡ìƒäzZÑ)Ί~Âx*»x uŧ
ƒYñÇX
2D¬%îGZÜku»g~ôZã~‡ìÂx6ZLuâñÅ™«6ZOŠ™D•
)u»g~â1CµVäâè~úZxÆZOŠÃ”hŠ_àcìX®ZZ[
)u»g~îg6Ëâ1CÂxÃ`*½ã*eìX
3DÓ#Ö„ÆZ(g~z{Óxz‚bZzgfgZù•XÆfg=ì-ZzgŠð»
Š„ÅÃ@VÃgz»YYìZzgZy`Zì»Zg‚[™äzZßVÇâyŤÄ
~Ñ™wZŠ~Y$ËìX
4DΊ»Z-ZŠZigzñŒÛWyz<CÙ›y»•ÛnìX®ZÓ#ÖZkÅfó
Ó!ïGL0Îyà 38 ŠZg~Üsfñ™Zx67eZw$ËXŠ2g0ÎyÅŠi
0È™Cìžz{¢Zi¢oÅuÃΊÐ0u™}XZo~
ŠvÓxZ½¦ÂxóÓ#ÖÅôZã~^gì•ÂZsò/g›0ÎyÅ
Ç™}X Ó#ÖÅf)ŠZg~ìžz{o~)Ί~u»ÂxÌ*
gƒZVZ‹Zn: !
ZJçÑ{Zsò7ƒ@uÐΊ»{Ø7HYYX
ŽZ[:
t!]Šg„ìžZ©xÑ<6¿ópZ{Zy»mi0ÏÆËÌ%Ѓ
Æ%e7XZÏaŒÛWy™*~ZÌZ©xÑ<»ÒyW@ì i³³Ï³çFp
iÏçFp zgZ•ÛZŠ~ ÅSÅYCìXZ%çÑ}ÃZsò¯äZ iÏçFp ‚B„
g•á›!g~¬ì: ~Z 41 aZ™äÅZzAf)ŠZg~Ó#ÖÅìXÎgÒeWe
LLZ¤ëQy)Z3ÿXLZZy(Ãi}~Ó#Ö«™Š,Âz{úi‡ì™,Ðó
i2>ZŠZ™,Ðó(»ñV»¬Š,ÐZzg'}»ñVÐgzXÐXóó
ZÓ#Ö„fgZùZšrÆfg)"§ðZzgwZxpg~ŧsgZá™ä
ùaZƒÇXøg} iÏçFp zZà55ZŠVÅízZ•á®™g„ƒÂZ•ÛZŠ~ZZyz
ÑdìXZ¤ÓxfgZù z oÅZÒeŠ+ÅŠÔZzg!©7ÉZyÅ"iÅz
ZšþrÆfg)ßÍVÃŒÛWyz<ÅgzÝ~Z©xÑ<ÔZy6¿ÅZÌZzg
ZyÅÜszgi~Æv*]ÐWÇ{HYñÂÑi˜çÑ}~}Zp°ZzgŠ+
ŠZg~aZƒÏZzguÉCÙˆ~Ñ<6¿ÅgZ{ûZgƒÏX
¾ƒZVZ‹Zn:
~¶Å (Value) ÅzzÐgz9ÅŠg (Inflation) ΊZÝ~Z•ÛZ¹ig
ˆ°»fg=ìX
ŽZ[:
Z•ÛZ¹igÅãŠ~zzÌΊ„ìX6ž¦¸Tg~f™HŠžÎŠ„ÅzzÐ
†V~ZŸ†ZzgßÍVŸ]èyh~¶zZµƒCìXQtΊ„ìŽuât
3839

41. 6ŠµÎ@ìTÐ (Production) »g~Åj,(Ë™ÆZâYÅaZö
~¶WCìZzgZâYņV~ZŸ†ƒ@ìXOVpÎŠÆ (Supply) g‡
{8Æ%Z•ÛZ¹ig»Xi7ƒYX
Æfg) (General Indexation) ‰âCÙ+ÅgZñ¶žÀòZŸ±
Z•ÛZ¹ig»{ØHYYìXpt!]ÌŠw
8o-ö FFÐ{à:ƒÏžX”Vä
~ŒZ7»x! (General Indexation) Z•ÛZ¹ig»´`ÀòZŸ±
Â:B1Z•ÛZ¹ig~ZzgZŸ†„ƒZX
t!]‡&ÿEL¨gìžZ•ÛZ¹igÜsŒÛnpZ{ÃMW7™@ÉçÑ}ÆŠvZ•ÛZŠ
ÃÌMW™@ìXçÑC°w»»ŸìžÓxMW+ÃDŠcYñXp
Z‹Zn™äzZáÜsΊpguâtŠZgzVÆ¢ŠZ]»gz*gzD•XQ
ÎWÅ!]ìžHZ•ÛZ¹igHznÆË¿ÅzzÐaZƒ@ìžÎŠá™
ZЄwZŠ~Yñ?
gz9ÅŠg~¶»–gZᙎßvΊpg~»ŽZi•ÛZë™D•Hz{Zk!]6
gZèƒVОZ†V~¶zZµƒYñÂŒÛnŠZgÐÁg¶zßw™,?
šÎŠŒÛnŠbøg}Š+~ZqnìZzgZ¤gz9ÅŠg~¶ÅzzÐŒÛn
pZ{Ãvyƒ@ìÂWy]~Zk»ÌZ`AÇXZ%Z¤ŒÛnpZ{gz9ÅŠg
~¶ÆvyÐÈeLƒÂZk»it잌Ûnógz9ÅOñ˽}
Îäce0~Åßg]~Š}ŠcYñX
ÑÇ¿
:¿ ¬%îGZÜkÆaÑÇ
DΊ~ç5]~'ZÓgZ„C_ƒäÐZA[™,XZ,ZŠZgzVÅ 1
5i#ÖÐe{ƒäÅÃÒ™,Ž'ZÓgZ„Ί~AŠ+™D
•XšZ»ƒ.g´¢zg~ƒÂ™.Z»ƒ.gOcÑ™iZEw
™,XΊ~ŒÛná™Ë»gz!gÔy~»xcœªÅyhZg~ÆaΊ~
ŒÛn:BX
Z½¦i0Ï~Ί~ÂxƒäÅzzЎΊ!ßZôøg}zŽŠ~Yg; D 2
ìÔZk»ñg{ZŠZ™äÆaΊ~ÂxÆ{8ÆaâwzYyÐ
˜Š™,XZkÅißg]tìž:
D¬%îGZÜkÃΊÅ:æN#ÖÔ¶TVÐWÇ{™,ZzgZkZ6f~V~ 1
aZƒäzZáZDÑ]Šzg™äÅÃÒ™,X
2DËZ+Z½Î~•áïƒVŽÎŠ~Âxû™äÆaÕáV
ƒXZkZ½ÎÅZ•ÛZŠ~¸]Ã(JäÅÃÒ™,@ž‰„!¿
Z•ÛZŠÅ5/®ZŠxWYñÔ±Zî`ÔZzgZë•áCÙZƒVZzgÓä
ZŠZgzV»%æFNZð=ÍZƒ™ÆÓ#ÖÃΊ~ÂxÆ{866g™Šc
YÆŸäU"™Šcìž 2002 Žy 24 YñX4*Ãg^Æ
ZkoÐΊ~Âx»{ØZqúZòZz!’qÆ%*eìX
4041

42. 6ŠµÎ@ìTÐ (Production) »g~Åj,(Ë™ÆZâYÅaZö
~¶WCìZzgZâYņV~ZŸ†ƒ@ìXOVpÎŠÆ (Supply) g‡
{8Æ%Z•ÛZ¹ig»Xi7ƒYX
Æfg) (General Indexation) ‰âCÙ+ÅgZñ¶žÀòZŸ±
Z•ÛZ¹ig»{ØHYYìXpt!]ÌŠw
8o-ö FFÐ{à:ƒÏžX”Vä
~ŒZ7»x! (General Indexation) Z•ÛZ¹ig»´`ÀòZŸ±
Â:B1Z•ÛZ¹ig~ZzgZŸ†„ƒZX
t!]‡&ÿEL¨gìžZ•ÛZ¹igÜsŒÛnpZ{ÃMW7™@ÉçÑ}ÆŠvZ•ÛZŠ
ÃÌMW™@ìXçÑC°w»»ŸìžÓxMW+ÃDŠcYñXp
Z‹Zn™äzZáÜsΊpguâtŠZgzVÆ¢ŠZ]»gz*gzD•XQ
ÎWÅ!]ìžHZ•ÛZ¹igHznÆË¿ÅzzÐaZƒ@ìžÎŠá™
ZЄwZŠ~Yñ?
gz9ÅŠg~¶»–gZᙎßvΊpg~»ŽZi•ÛZë™D•Hz{Zk!]6
gZèƒVОZ†V~¶zZµƒYñÂŒÛnŠZgÐÁg¶zßw™,?
šÎŠŒÛnŠbøg}Š+~ZqnìZzgZ¤gz9ÅŠg~¶ÅzzÐŒÛn
pZ{Ãvyƒ@ìÂWy]~Zk»ÌZ`AÇXZ%Z¤ŒÛnpZ{gz9ÅŠg
~¶ÆvyÐÈeLƒÂZk»it잌Ûnógz9ÅOñ˽}
Îäce0~Åßg]~Š}ŠcYñX
ÑÇ¿
:¿ ¬%îGZÜkÆaÑÇ
DΊ~ç5]~'ZÓgZ„C_ƒäÐZA[™,XZ,ZŠZgzVÅ 1
5i#ÖÐe{ƒäÅÃÒ™,Ž'ZÓgZ„Ί~AŠ+™D
•XšZ»ƒ.g´¢zg~ƒÂ™.Z»ƒ.gOcÑ™iZEw
™,XΊ~ŒÛná™Ë»gz!gÔy~»xcœªÅyhZg~ÆaΊ~
ŒÛn:BX
Z½¦i0Ï~Ί~ÂxƒäÅzzЎΊ!ßZôøg}zŽŠ~Yg; D 2
ìÔZk»ñg{ZŠZ™äÆaΊ~ÂxÆ{8ÆaâwzYyÐ
˜Š™,XZkÅißg]tìž:
D¬%îGZÜkÃΊÅ:æN#ÖÔ¶TVÐWÇ{™,ZzgZkZ6f~V~ 1
aZƒäzZáZDÑ]Šzg™äÅÃÒ™,X
2DËZ+Z½Î~•áïƒVŽÎŠ~Âxû™äÆaÕáV
ƒXZkZ½ÎÅZ•ÛZŠ~¸]Ã(JäÅÃÒ™,@ž‰„!¿
Z•ÛZŠÅ5/®ZŠxWYñÔ±Zî`ÔZzgZë•áCÙZƒVZzgÓä
ZŠZgzV»%æFNZð=ÍZƒ™ÆÓ#ÖÃΊ~ÂxÆ{866g™Šc
YÆŸäU"™Šcìž 2002 Žy 24 YñX4*Ãg^Æ
ZkoÐΊ~Âx»{ØZqúZòZz!’qÆ%*eìX
4041

43. Ó#ÖÆaÑÇ¿:
)Z³(DZßàZŠZâ]:
YƟû³x 2002 Žy 24 Ó#Ö0ÎyΊÐ04*Ãg^Æ D1
ŒÛZgŠ}™zùѦ°ZªÆŸÃ'ŒÛZggpÆa4*Ãg^~Zh
ŠZ4™}ZzgoÐΊ~Âxû™äÆaoƒúqÝ
™áX
Š2§0ÎyÐz{]FZç¯g~îg6»™Š~YNŽšÎŠ~uÆ D2
ªxÆjZáÐg»z^»:k•X
LLzÃgZsâ^cWsZ»âòóóÃñWZzgdw¯cYñÔ8iïEL¢zg]Zk D3
~'×hâCÙ+zfYÕáïHYñZzgZ[JZˆVä)Ί~
uƪxÆaŽg•á]Š~•ÔZyÅgzÝ~iZŠZâ]K
YNX
g!Åw#ÖÔZkŶVZzgZkçA6ZDÑ]ÆŽZ!]ÃWc] D4
ÔZqŠgttZzg[ŠÑbÅgzÝ~]fgZùzZšrÆfg)íH ŒÛW6
Yñ@žßvΊÃghäZzgZke~˯g~æÆvyÃ
WâŠ{ƒÃX 'ŠZ“™äÆa
uâñc×6g!ÅÒÃ!*Zkz‰ÜJ»7HYYZJigZ® D5
ÃÌg!Ð0u:™ŠcYñX®ZY•ŠZg~Zzg)q¢iŒZg~Æ{Ø
ÆaÌZŠZâ]KYNX
)[(¯g~iZŠZâ]:
ß!ðZzgzùÓáVÆ!bŒÛçV2zùÓ#ÖÆZÚРD1
a‰ŒÛçV6Ί¯g~îg6»™ŠcYñZkažZkÐWæy
ZzgZyZY]6
!-A)Ïî
E
EÃðZW77}ÇX
ÃŽŒÛ2 ‰ZŠZgzV 4u»g~ZŠZgzVZzg»g7gxV‰zZ4ZÔgw}Ô D2
Ó#ÖäŠb•Z7¯g~îg6Zr¨~ps™ŠcYñX
Ó#ÖÅYZŠVÆ•ÓäŒÛçV6ŒCÙâqÆ3ÂVÔ!&iÔ D3
%Zzg_5½3ð GGg¸z){6ΊZŠZ™*¯gUÈHYñX2ZyŒÛçVÆZÝ u
ÆaoƒÑ_¿»Z´yHYñX ZŠZ™ä (Principal) ig
u»g~5i}ÃkyÔ»gcñR‚¡yhäÆaŠbYäzZáŒÛçV D4
6ΊŠ¶Ã¯gU‚Ž™ŠcYñX (GPF) 6ÐΊhZzg6Zzi•-
» Debt- Equity Swap ÎZѸZòΊ~ŒÛçVÅZióÆa D5
ZŠZgzVÃZk!]Å / §i»gZ(gHYYì)Zk§j~)±ÓáV
ZYi]Š~YCìžz{ZLzZZZßßwŒÛçVÆúnoÆZ0gÇ
uât»g~™,TÆaÓ#ÖZ7ßÀ™´~g¶½™äZzgZyÆ
o«ÅZŠZ5igIŠ!Åßg]~™äÅJ-Šîì(XZkÆa
˜´»Š/ƃÇX Latin American
){ zTrading Zzg Real Investment ˆgC¶VÆaZYi]ƒžz{ D6
ƇV~Ìuât»g~™ÃXZk~:ÃðѦDsWh}WCìZzg
:„ÃðŠzu~ÂìX
Üs Å (Shares) Z6uâgL~¢!i~ÅÜô˜ÆƒZzgZzg‰ D7
ÅZYi]Š~YñX (Real Trading) z| •Û Çyhz
¶VÆWe^»Ñ¦Z±gÐZqZŸ°œÂx‡ìHYñX D 8
4243

44. Ó#ÖÆaÑÇ¿:
)Z³(DZßàZŠZâ]:
YƟû³x 2002 Žy 24 Ó#Ö0ÎyΊÐ04*Ãg^Æ D1
ŒÛZgŠ}™zùѦ°ZªÆŸÃ'ŒÛZggpÆa4*Ãg^~Zh
ŠZ4™}ZzgoÐΊ~Âxû™äÆaoƒúqÝ
™áX
Š2§0ÎyÐz{]FZç¯g~îg6»™Š~YNŽšÎŠ~uÆ D2
ªxÆjZáÐg»z^»:k•X
LLzÃgZsâ^cWsZ»âòóóÃñWZzgdw¯cYñÔ8iïEL¢zg]Zk D3
~'×hâCÙ+zfYÕáïHYñZzgZ[JZˆVä)Ί~
uƪxÆaŽg•á]Š~•ÔZyÅgzÝ~iZŠZâ]K
YNX
g!Åw#ÖÔZkŶVZzgZkçA6ZDÑ]ÆŽZ!]ÃWc] D4
ÔZqŠgttZzg[ŠÑbÅgzÝ~]fgZùzZšrÆfg)íH ŒÛW6
Yñ@žßvΊÃghäZzgZke~˯g~æÆvyÃ
WâŠ{ƒÃX 'ŠZ“™äÆa
uâñc×6g!ÅÒÃ!*Zkz‰ÜJ»7HYYZJigZ® D5
ÃÌg!Ð0u:™ŠcYñX®ZY•ŠZg~Zzg)q¢iŒZg~Æ{Ø
ÆaÌZŠZâ]KYNX
)[(¯g~iZŠZâ]:
ß!ðZzgzùÓáVÆ!bŒÛçV2zùÓ#ÖÆZÚРD1
a‰ŒÛçV6Ί¯g~îg6»™ŠcYñZkažZkÐWæy
ZzgZyZY]6
!-A)Ïî
E
EÃðZW77}ÇX
ÃŽŒÛ2 ‰ZŠZgzV 4u»g~ZŠZgzVZzg»g7gxV‰zZ4ZÔgw}Ô D2
Ó#ÖäŠb•Z7¯g~îg6Zr¨~ps™ŠcYñX
Ó#ÖÅYZŠVÆ•ÓäŒÛçV6ŒCÙâqÆ3ÂVÔ!&iÔ D3
%Zzg_5½3ð GGg¸z){6ΊZŠZ™*¯gUÈHYñX2ZyŒÛçVÆZÝ u
ÆaoƒÑ_¿»Z´yHYñX ZŠZ™ä (Principal) ig
u»g~5i}ÃkyÔ»gcñR‚¡yhäÆaŠbYäzZáŒÛçV D4
6ΊŠ¶Ã¯gU‚Ž™ŠcYñX (GPF) 6ÐΊhZzg6Zzi•-
» Debt- Equity Swap ÎZѸZòΊ~ŒÛçVÅZióÆa D5
ZŠZgzVÃZk!]Å / §i»gZ(gHYYì)Zk§j~)±ÓáV
ZYi]Š~YCìžz{ZLzZZZßßwŒÛçVÆúnoÆZ0gÇ
uât»g~™,TÆaÓ#ÖZ7ßÀ™´~g¶½™äZzgZyÆ
o«ÅZŠZ5igIŠ!Åßg]~™äÅJ-Šîì(XZkÆa
˜´»Š/ƃÇX Latin American
){ zTrading Zzg Real Investment ˆgC¶VÆaZYi]ƒžz{ D6
ƇV~Ìuât»g~™ÃXZk~:ÃðѦDsWh}WCìZzg
:„ÃðŠzu~ÂìX
Üs Å (Shares) Z6uâgL~¢!i~ÅÜô˜ÆƒZzgZzg‰ D7
ÅZYi]Š~YñX (Real Trading) z| •Û Çyhz
¶VÆWe^»Ñ¦Z±gÐZqZŸ°œÂx‡ìHYñX D 8
4243

45. )e(
^ZsòÅZ-Z›ÎŠ
Å]z4ÅgzŠZŠ
/
qƒ¬¨z©
YÐÑzqƒ@ìX^ZsòÅ%œ~ 2012 Z-Z›ÎŠÅÃ@V»Šz§Uã /
R6têHŠž8gwÑ<Ãg^~Z-Z›ÎŠ»çn4*Ãg^Ws
YÐc¸ZpZY~7Zì®ZÃÒÅYñžZÐ 2002 0ÎyÐgZ&”{
YÃZqŠgpZ„ 2012 BZ~ 4 óó™zZcYñXOVp Fix •®ÆaLL
{-úŠ„Ï®¨8gc "Application to Fix for Hearing" >Zy
Ws0Îy&g=4*Ãg^ÆzVÓZDw™ró8gwÑ<Ãg^~
ŠZ4ňT~Z-Z›ÎŠÅ‚—Ã@VZzg4*Ãg^Ws0ÎyÆ
YÃãŠ¯DƒñtZ+¬Åˆž: 2002 YZzg 1999Ÿ
"It is therefore, respectfully prayed that the above case
(PLD 2002, SC 800) may kindly be ordered to be fixed for
hearing at a very early date convenient to this Honourable
Court."
LLOVpZ+¬ÅYCìž°ZÅïGL¬DÅœªÆ_.èÃg{!ÑRÅ•®
Æa¢Zi¢@gõHgÅYñXóó
YÃ8gwÑ<Ãg^Å 2012 BZ~ 17 ZkŠgpZ„ÆŽZ[~ /
Y+ÐtŽZ[zßwƒZžaVžŠgpZ„¦ZgP™{!ÑR~ZqLL0gKóó
ÆProcedure Y1981 7ìZzgaVžtŠgpZ„8gwÑ<Ãg^Æ
_.7óZkatŠgpZ„gŠÅYCìX
YÃ^ZsòÆZqZëf) 2013 ŽÑð 28 ZkŽZ[Æñßwƒä6 /
"Petition under ŠZg{-úŠ„ÏÅY+„ÐZqŠzu~ŠgpZ„>Zy
ŠZ]ňŽ article 203-D of the Constitution of Pakistan 1973"
34-CPC/ žZqWñŠgpZ„¶Ž8gwÑ<Ãg^~WMÆv
Æ•¶XZk Interest being against the injunction of Islam
ŠgpZ„~0ÎyÆWñ•Zzggc„0ÎyÅWñf)ŠZg-VÂt
gnƒñtZ+¬Åˆ¶:
In this spirit that this petition is being filed and the
petitioner believes that Allah and Prophet Muhammad
(S.A.W) will be pleased with all those who will strive to
achieve this noble case and will be displeased who will
show reluctant in the matter.
It is therefore, respectfull prayed that a declaration may be
made to the effect that interest (Ribah) in all its forms is
Haram/prohibited in Islam and the Government of Pakistan
may be directed to take prompt measures for the eradication
of the evil of (Ribah) interest from the Islamic Republic of
Pakistan.
LLŠgpZ„¦ZgtŠgpZ„Zk¢Æ‚B7™g;ìžZv¬Zzg·gÎwZv
CÙZk¿ÐgZèƒVÐŽZkxÑÅ{§]z4™}ÇÔZzgZk ~
çA~FŠŠ»bCÙ{™äzZßVÐ*gZnƒVÐXOVptZ+¬ÅYC
*Y^ìÔ / (ZKÓxßgÂVÉZsx~wZx …eF³ç] ìžtZ´yHYñžÎŠ)
ZzgÓ#Ö0ÎyÃZk!]66gHYñžz{Zsò/gt0ÎyÐΊÅZk
è„Æ{8Æa'z‰ÜZŠZâ]™}Xóó
m26 ÆŠZ]KYäÆË~8gwÑ<Ãg^ä petition Zk /
4445
/eZ]I£ïZsòÔŒÛWyZOòуgX

46. )e(
^ZsòÅZ-Z›ÎŠ
Å]z4ÅgzŠZŠ
/
qƒ¬¨z©
YÐÑzqƒ@ìX^ZsòÅ%œ~ 2012 Z-Z›ÎŠÅÃ@V»Šz§Uã /
R6têHŠž8gwÑ<Ãg^~Z-Z›ÎŠ»çn4*Ãg^Ws
YÐc¸ZpZY~7Zì®ZÃÒÅYñžZÐ 2002 0ÎyÐgZ&”{
YÃZqŠgpZ„ 2012 BZ~ 4 óó™zZcYñXOVp Fix •®ÆaLL
{-úŠ„Ï®¨8gc "Application to Fix for Hearing" >Zy
Ws0Îy&g=4*Ãg^ÆzVÓZDw™ró8gwÑ<Ãg^~
ŠZ4ňT~Z-Z›ÎŠÅ‚—Ã@VZzg4*Ãg^Ws0ÎyÆ
YÃãŠ¯DƒñtZ+¬Åˆž: 2002 YZzg 1999Ÿ
"It is therefore, respectfully prayed that the above case
(PLD 2002, SC 800) may kindly be ordered to be fixed for
hearing at a very early date convenient to this Honourable
Court."
LLOVpZ+¬ÅYCìž°ZÅïGL¬DÅœªÆ_.èÃg{!ÑRÅ•®
Æa¢Zi¢@gõHgÅYñXóó
YÃ8gwÑ<Ãg^Å 2012 BZ~ 17 ZkŠgpZ„ÆŽZ[~ /
Y+ÐtŽZ[zßwƒZžaVžŠgpZ„¦ZgP™{!ÑR~ZqLL0gKóó
ÆProcedure Y1981 7ìZzgaVžtŠgpZ„8gwÑ<Ãg^Æ
_.7óZkatŠgpZ„gŠÅYCìX
YÃ^ZsòÆZqZëf) 2013 ŽÑð 28 ZkŽZ[Æñßwƒä6 /
"Petition under ŠZg{-úŠ„ÏÅY+„ÐZqŠzu~ŠgpZ„>Zy
ŠZ]ňŽ article 203-D of the Constitution of Pakistan 1973"
34-CPC/ žZqWñŠgpZ„¶Ž8gwÑ<Ãg^~WMÆv
Æ•¶XZk Interest being against the injunction of Islam
ŠgpZ„~0ÎyÆWñ•Zzggc„0ÎyÅWñf)ŠZg-VÂt
gnƒñtZ+¬Åˆ¶:
In this spirit that this petition is being filed and the
petitioner believes that Allah and Prophet Muhammad
(S.A.W) will be pleased with all those who will strive to
achieve this noble case and will be displeased who will
show reluctant in the matter.
It is therefore, respectfull prayed that a declaration may be
made to the effect that interest (Ribah) in all its forms is
Haram/prohibited in Islam and the Government of Pakistan
may be directed to take prompt measures for the eradication
of the evil of (Ribah) interest from the Islamic Republic of
Pakistan.
LLŠgpZ„¦ZgtŠgpZ„Zk¢Æ‚B7™g;ìžZv¬Zzg·gÎwZv
CÙZk¿ÐgZèƒVÐŽZkxÑÅ{§]z4™}ÇÔZzgZk ~
çA~FŠŠ»bCÙ{™äzZßVÐ*gZnƒVÐXOVptZ+¬ÅYC
*Y^ìÔ / (ZKÓxßgÂVÉZsx~wZx …eF³ç] ìžtZ´yHYñžÎŠ)
ZzgÓ#Ö0ÎyÃZk!]66gHYñžz{Zsò/gt0ÎyÐΊÅZk
è„Æ{8Æa'z‰ÜZŠZâ]™}Xóó
m26 ÆŠZ]KYäÆË~8gwÑ<Ãg^ä petition Zk /
4445
/eZ]I£ïZsòÔŒÛWyZOòуgX

47. Y2013 ZÆ' 22 'Zñ•®Jw™àZzg petition YÃZL%Z÷~t 2013
Å@gõ'ZñZ’Zð•®Š}Š~ZzgZkÜŠzu~¼ŠŠgpZ2VÊ™D
ƒñœžîg6ÓxRG»ÃtªCÙHX
YÐ@Šx’kPgŠ»ggzZÇVÆ´z{ZkR~Ãð‡.Þ 2013 ZÆ' 22 /
f™âÎÅ7gÄÃ7WCX«ZzgZ’Zð•®~¡ZkRZzgZkÆ
HŠZzg¹ŠžŠzu~•® acknowledge Rà 117 Šv lumped ‚B
ÃZK!]ì»ñµƒÇX petitioner 6ŠÑb»Y^{1YñÇZzg
Šzu~'6e÷ZNgãZzgZNgã¾wÅ)ñŽŠÏÃãŠ¯™Zq5@gõ
ZzgâCÙ+ petitioners Š¶Åâh‹ðˆX2tÌCcŠžZqÎZw*)Óx
‡âyófYZzg+¸ZÝFÃZg‚wHYñÇTÅgzÝ~eZ&™Š{ZkR
ÎZÑ]6ŒZqÎZÜ)8gwÑ<Ãg^Å 14 6cÅYñÏXOVp
Y+Ð&g=%ZÏzZ¶g~Z:q5ŠZzg¹ŠžZk»ŽZ[»g™Æ
8gwÑ<Ãg^ÆgZZgÃ8iïELZ,®zÂ=Zg‚wHYñX
ÎZÑ]ÆŽZ!]×îg6»g™Æz¯YÆ 14 ^ŧsÐZy /
fg)8gwÑ<Ãg^~ŠZ4Ší™zZŠb‰ZzgÃg^ÐZ+¬Åˆž
çAÅZÌz4Z•Æ7ÃZkRÃ!~ЕcYñX
™äÆaøg~Y+Ð&'×hz¯ñ4*Ãg^Å assist Ãg^à /
}â]qÝÅIóX~gZñaZ£óÝx•Ûh’F{ZzgZ‡àg#•áï•X
øg}´z{‰Šzu}Z•ÛZŠZzgWgk^:ŧsÐÌŽZ!]ŠZ4K‰ó
X~•{B>ó)®ZsòZzg•Z'Z•zŠwZzgŠzu}•áï•X
YÆW¸iJtÓx»ggzZð僈¶ZzgZ[Zk!]»ZOgåžt 2014 /
çnÃg^~Zq5¸]Æ‚BikcWñÇZzgëΊÅZkÒЕ]
qÝ™ä~»x[ƒÃÐXp@ŠÄ’k8gwÑ<Ãg^~ZkçA6
!‡°{c»W¸i7ƒeZzgçnZq%ûQ*¥xæ]JcZpZY»DgìX
ZkŠzgZygZ¶äZz¯YZzgâCÙ+ÐgZ‚Yg~g3ZzgZk!]Æ /
Zk*]»Y^{1žHZkRÃZiuâ4*Ãg^Ws0Îy~[ZcYYìc
YzZÑê 1999 7XgZ¶»@WtåžaVž4*Ãg^ÆÑ<Z"5Òï GFH±»
6ÕZVðƒðÃg^ PCO Y~ 2002 ZquÅwg‚ì&ˆ~
Y1999 仳xŒÛZgŠ}Šcåó®ZZ¤ñŽŠ{4*Ãg^ÐtZ+¬ÅYñž
zZÑê‰gc4Zzg)gc4ZŠZgzVÆŠ!î6ØHŠåZkaZл³x
ŒÛZgŠcYñÂZyÅY$Ëìžt%ZiW‚ãÐaç MƒYNÐX
ZkpZéZzgZyÆ7èÃgZ¶ä¼ŠâCÙ+ÐgZ‚HZzg4*Ãg^ /
~ZkRÅúÒÏÆaZz¯YÐgZ‚HX»°ÎaXgZzgxzg]Æ
ˆgZz·Zg•áŠ™rŽžZ³}ZxZÅWy•|Ðîs²žzZhgì•Zzg
!ë
E
0^Ƅл°uJWÇ{Zzg5•Zzg°Zrîg§hVÐl!zZ•
•óZ7Zk»xÅf)ŠZg~Î&4/õ
E
F
E»êHŠX
gZz™räZL‚B4*Ãg^ÆŠzZzgz¯Y»[uŠZg·¸i~Zzg
zŠZvNÚ~•áïHXgZ¶äZy|Z]Æ‚BZsxW!Š~¼Š
5‡'XZzgZ7ZkRÅ@gõZzgçAÆâ'ZzgâmÐWÇ{HX
»ê 1999 z¯YÆZk¤zäÓxR»Y^{á™tgZñ‡ìÅž
Æ• 38-F bw™Z*1Ž{W‚y:ƒÇÉZkÆOñZkçAÃWMÅŠi
ÃtRZ4 2015 âga 30 ZV*c7™*icŠ{ñizVgìÇXOVpZrVä
ãŠzV6»gHZzgZÐZ÷^Zsòqƒ¬–G™rŧsÐZq
Petitionunder ®¨8gcWs0Îy>Zy Constitution Petition
»gHZzg4*Ãg^ article 184(3) of the Constitution of Pakistan
~tŠgpZ„ň¶ž: Constitution Petition ~ŠZ4™zZŠcXZk
4647

48. Y2013 ZÆ' 22 'Zñ•®Jw™àZzg petition YÃZL%Z÷~t 2013
Å@gõ'ZñZ’Zð•®Š}Š~ZzgZkÜŠzu~¼ŠŠgpZ2VÊ™D
ƒñœžîg6ÓxRG»ÃtªCÙHX
YÐ@Šx’kPgŠ»ggzZÇVÆ´z{ZkR~Ãð‡.Þ 2013 ZÆ' 22 /
f™âÎÅ7gÄÃ7WCX«ZzgZ’Zð•®~¡ZkRZzgZkÆ
HŠZzg¹ŠžŠzu~•® acknowledge Rà 117 Šv lumped ‚B
ÃZK!]ì»ñµƒÇX petitioner 6ŠÑb»Y^{1YñÇZzg
Šzu~'6e÷ZNgãZzgZNgã¾wÅ)ñŽŠÏÃãŠ¯™Zq5@gõ
ZzgâCÙ+ petitioners Š¶Åâh‹ðˆX2tÌCcŠžZqÎZw*)Óx
‡âyófYZzg+¸ZÝFÃZg‚wHYñÇTÅgzÝ~eZ&™Š{ZkR
ÎZÑ]6ŒZqÎZÜ)8gwÑ<Ãg^Å 14 6cÅYñÏXOVp
Y+Ð&g=%ZÏzZ¶g~Z:q5ŠZzg¹ŠžZk»ŽZ[»g™Æ
8gwÑ<Ãg^ÆgZZgÃ8iïELZ,®zÂ=Zg‚wHYñX
ÎZÑ]ÆŽZ!]×îg6»g™Æz¯YÆ 14 ^ŧsÐZy /
fg)8gwÑ<Ãg^~ŠZ4Ší™zZŠb‰ZzgÃg^ÐZ+¬Åˆž
çAÅZÌz4Z•Æ7ÃZkRÃ!~ЕcYñX
™äÆaøg~Y+Ð&'×hz¯ñ4*Ãg^Å assist Ãg^à /
}â]qÝÅIóX~gZñaZ£óÝx•Ûh’F{ZzgZ‡àg#•áï•X
øg}´z{‰Šzu}Z•ÛZŠZzgWgk^:ŧsÐÌŽZ!]ŠZ4K‰ó
X~•{B>ó)®ZsòZzg•Z'Z•zŠwZzgŠzu}•áï•X
YÆW¸iJtÓx»ggzZð僈¶ZzgZ[Zk!]»ZOgåžt 2014 /
çnÃg^~Zq5¸]Æ‚BikcWñÇZzgëΊÅZkÒЕ]
qÝ™ä~»x[ƒÃÐXp@ŠÄ’k8gwÑ<Ãg^~ZkçA6
!‡°{c»W¸i7ƒeZzgçnZq%ûQ*¥xæ]JcZpZY»DgìX
ZkŠzgZygZ¶äZz¯YZzgâCÙ+ÐgZ‚Yg~g3ZzgZk!]Æ /
Zk*]»Y^{1žHZkRÃZiuâ4*Ãg^Ws0Îy~[ZcYYìc
YzZÑê 1999 7XgZ¶»@WtåžaVž4*Ãg^ÆÑ<Z"5Òï GFH±»
6ÕZVðƒðÃg^ PCO Y~ 2002 ZquÅwg‚ì&ˆ~
Y1999 仳xŒÛZgŠ}Šcåó®ZZ¤ñŽŠ{4*Ãg^ÐtZ+¬ÅYñž
zZÑê‰gc4Zzg)gc4ZŠZgzVÆŠ!î6ØHŠåZkaZл³x
ŒÛZgŠcYñÂZyÅY$Ëìžt%ZiW‚ãÐaç MƒYNÐX
ZkpZéZzgZyÆ7èÃgZ¶ä¼ŠâCÙ+ÐgZ‚HZzg4*Ãg^ /
~ZkRÅúÒÏÆaZz¯YÐgZ‚HX»°ÎaXgZzgxzg]Æ
ˆgZz·Zg•áŠ™rŽžZ³}ZxZÅWy•|Ðîs²žzZhgì•Zzg
!ë
E
0^Ƅл°uJWÇ{Zzg5•Zzg°Zrîg§hVÐl!zZ•
•óZ7Zk»xÅf)ŠZg~Î&4/õ
E
F
E»êHŠX
gZz™räZL‚B4*Ãg^ÆŠzZzgz¯Y»[uŠZg·¸i~Zzg
zŠZvNÚ~•áïHXgZ¶äZy|Z]Æ‚BZsxW!Š~¼Š
5‡'XZzgZ7ZkRÅ@gõZzgçAÆâ'ZzgâmÐWÇ{HX
»ê 1999 z¯YÆZk¤zäÓxR»Y^{á™tgZñ‡ìÅž
Æ• 38-F bw™Z*1Ž{W‚y:ƒÇÉZkÆOñZkçAÃWMÅŠi
ÃtRZ4 2015 âga 30 ZV*c7™*icŠ{ñizVgìÇXOVpZrVä
ãŠzV6»gHZzgZÐZ÷^Zsòqƒ¬–G™rŧsÐZq
Petitionunder ®¨8gcWs0Îy>Zy Constitution Petition
»gHZzg4*Ãg^ article 184(3) of the Constitution of Pakistan
~tŠgpZ„ň¶ž: Constitution Petition ~ŠZ4™zZŠcXZk
4647