TAKHT BHAI, Pakistan: The government of northwestern Khyber Pakhtunkhwa (KP) has devised a multi-pronged strategy to revive and refurbish the vibrant tourism sector in the province to preserve the sacred Buddhist sites and other historic monuments of the British era.
The initiative is aimed at attracting national and international tourists and multiply businesses to the province’s tribal areas, a senior official said.
Nisar Muhammad, the Public Relations Officer (PRO) for KP’s minister for tourism, archaeology, sports, culture, and youth affairs, told Arab News that the Pakistan Tehreek-e-Insaf (PTI) government estimates the presence of more than 1,000 sites of historical and religious importance, with 132 sites situated in the newly-merged Khyber tribal district alone.
“In a bid to promote religious tourism in KP and war-ravaged erstwhile FATA region, there are many Buddhist sacred places which the followers of the religion want to visit. We have written letters to embassies of seven countries including China, Japan, and Korea about the KP government’s plans to preserve the Buddhist sites to promote religious tourism here,” he said.
Muhammad Zaman, a resident of Takht Bhai, said hundreds of people visit the Buddhist sites on a weekly basis, adding that the government should take measures to rebuild the roads and structures in the larger interest of the country and minorities.
Takht Bhai — part of the World Heritage List — is one of the world’s most renowned and well-structured Buddhist monasteries. It is located almost 500 feet atop a small mountain, with a range of up to two kilometers, toward the east of Takht Bhai bazaar in the KP province.
Known as the heart of the Gandhara civilization, it attracts tourists, historians, and archaeologists from across the country but its preservation would attract Buddhists from across the world, Zaman said.
Founded in the early first century, the Takht Bhai Buddhist monastic complex (Throne of Origins) has survived successive invasions and is well preserved due to its location on top of the high hill.
A number of locals say that the Buddhist complex and the surrounding village are widely believed to be named after two wells which were found on top of the hill near the complex.
Takht — which basically means throne and bhai which means water in Persian — was named after the spring located on the left side of the Buddhist site, Sher Nawaz, another local, added.
Muhammad said that the top administrators in every district of the province have been instructed to identify historical places in their respective areas which would help pave way for a fresh survey of the places, adding that 20 more tourist spots would be identified in the next four years.
Nawaz Uddin, a research officer at the KP archaeology department, said that the provincial government is striving to initiate some work on preserving the historical sites but full-fledged work would begin once the budget for the purpose is allocated in the tribal districts.
“KP has over 6,000 historical sites, with some of them have sacred places of ancient religions but we have no scientific survey of the erstwhile FATA region. Only one district of tribal areas known as Khyber tribal district has 132 sites,” he added.
Professor Jamil Yousafzai, an archaeologist in KP, stressed that the preservation of historical sites — primarily those holding religious importance — would bolster the image of the country and lure investments as well.
“The KP government has taken a brilliant step to preserve the sites of Buddhism and other minorities. This depicts that our soil is rich and has the credit of being a cradle of world religion,” he observed.
The areas of Swat, Bunner, Swabi, Takht Bhai, Khyber tribal district, and other parts of the province and tribal regions are rich in historical sites.
Mehrab Afridi, a local from the Khyber tribal district, recalled how the decade-old wave of insurgency severely impacted the tourism sector of the province, driving tourists away from visiting the area.
“As militancy has now been banished in the wake of successive military operations, the rich tourism sector is again on a take-off position. People start visiting Buddhist-period archaeological sites in Swat, Landi Kotal, Jamrud in Khyber tribal district and other areas, which have multiplied businesses,” Afridi said.
He said that the main Stupa in Landi Kotal of the Khyber tribal district is being frequented by visitors on a daily basis. However, the sites need restoration work which would help develop the war-torn region.
Atif Khan, KP minister for tourism, archaeology, sports and culture — during his maiden visit to the newly-merged tribal district of Khyber — had pledged that a Safari train till Torkham border would be launched again which would generate employment opportunities for the locals, too.
He told media that KP has more than 1,000 sacred Buddhist sites of which 100 of them are located in the Khyber tribal district.
Muhammad said that the KP government has formally requested the central government to help the province launch the Safari train from Peshawar all the way to the Torkham border with Afghanistan.
Nawaz Uddin said preserving archaeological and historical sites should not be looked at from a financial point of view. Rather, it is an exercise to work toward preserving the country’s national heritage which depicts the rich history of Pakistan.
“We can attract foreign tourists as the newly-merged districts have a large number of sacred sites of Buddhism. The area can be turned into a religious tourism spot,” he added.
Pakistan to begin restoration work of sacred Buddhist sites, British-era monuments in KP
Pakistan to begin restoration work of sacred Buddhist sites, British-era monuments in KP
- Measures are part of province’s initiative to revive vibrant tourism sector
- Is home to more than 1,000 sites of historic and religious significance
‘Solid agreements worth billions’ to be signed soon with Saudi Arabia — Pakistani PM
- Sharif was hosting dinner for 50-member Saudi delegation visiting Pakistan to discuss private sector investments
- Representatives of 30 Saudi firms from IT, telecom, energy, aviation, construction, mining, agriculture are visiting
ISLAMABAD: Pakistan and Saudi Arabia will sign “solid agreements worth billions of dollars” soon, Prime Minister Shehbaz Sharif said on Monday during a dinner held in honor of a high-level Saudi business delegation visiting the Pakistani capital of Islamabad.
A 50-member delegation, led by the Kingdom’s Assistant Minister of Investment Ibrahim Al-Mubarak, arrived in Pakistan on Sunday, with representatives of some 30 Saudi firms from the fields of IT, telecom, energy, aviation, construction, mining exploration, agriculture and human resource development.
Speaking at the dinner, Sharif expressed satisfaction over what he called “tangible progress” at a Pakistani-Saudi Arabia investment conference held in Islamabad earlier in the day.
“Today, B2B (business-to-business) interactions have been most productive,” he said. “That time is coming very fast, when we will, God willing, witness agreements, solid agreements worth billions of dollars. That will set the ball rolling.”
Sharif said his government was determined to remove hurdles in the way of the speedy achievement of targets.
“And I want to assure you that in that, we are fully resolved and committed,” the PM said, adding that the Saudi side had expressed confidence in the working of Pakistan’s Special Investment Facilitation Council (SIFC), set up last year to oversee all foreign investments in the country.
Speaking at the dinner, the Saudi assistant investment minister said Pakistan was a “strategic” partner and friend.
“The private sectors have interacted very quickly. We have spoken to them, only a few days after we have spoken to them, everybody showed interest,” he added. “The relationship with Pakistan has always been strong, but we look for it to be even stronger, and we can do great things together. I am sure we can achieve both countries’ aspirations and visions.”
Pakistan and Saudi Arabia have been working closely in recent weeks to increase bilateral trade and investment deals, with Crown Prince Mohammed bin Salman last month reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion.
The Saudi business delegation’s visit comes on the heels of one by Sharif to Riyadh from Apr. 27-30 to attend a special two-day meeting of the World Economic Forum.
On the sidelines of the WEF conference, the Pakistani PM met and discussed bilateral investment and economic partnerships with the crown prince and the Saudi ministers of finance, industries, investment, energy, climate, and economy and planning, the adviser of the Saudi-Pakistan Supreme Coordination Council and the presidents of the Saudi central bank and Islamic Development Bank.
This was Sharif’s second meeting with the crown prince in a month. Before that, he also met him when he traveled to the Kingdom on April 6-8. The Saudi foreign minister was also in Pakistan last month, a trip during which Pakistan pitched projects worth at least $20 billion to Riyadh, according to the Pakistani foreign ministry.
Pakistan and Saudi Arabia enjoy strong trade, defense, and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as a top source of remittances to the cash-strapped South Asian country.
INVESTMENT CONFERENCE
Speaking at the investment conference on Monday morning, Al-Mubarak said this was his second visit to Pakistan in two weeks and many influential leaders from globally renowned Saudi companies were part of his delegation.
“To the Saudi government and Saudi companies, Pakistan is considered a high-priority economic investment and business opportunity,” Al-Mubarak said.
“Today, we want to connect you [Pakistan] all to Saudi companies who desire to continue building their international presence, for Saudi Arabia’s ambitions do not stop at our borders and we would like to see Pakistan as one of our leading international partners,” the Saudi official added.
“So, this gathering provides a wonderful opportunity for them [Saudi companies] to develop a deeper understanding of the great opportunities available for investment in Pakistan and to learn about related regulations, requirements, and incentives.”
Addressing a press conference in Islamabad, Petroleum Minister Dr. Musadik Malik said 125 Pakistani companies were negotiating with the Saudi companies who were visiting Islamabad.
“First, there were government-to-government agreements during the visit of the Saudi foreign minister [last month] and now there will be business-to-business agreements,” he said.
“To facilitate the visiting Saudi companies, the Pakistani commerce ministry has affiliated one focal person with each Saudi company.”
Minister for Commerce Jam Kamal Khan said high officials of more than 32 Saudi companies were in Pakistan.
“Pakistani companies are present here, in the energy sector, in the food sector, in the construction sector, in the renewable section, in the ports and shipping section, and the IT services and general services,” Khan told reporters.
He said the visit by the Saudi delegation was “just the beginning” and now a Pakistani delegation would visit the Kingdom nect “to move forward toward the implementation phase.”
Major Pakistan coalition partner opposes privatization of national airline ahead of IMF talks
- The government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term IMF program to support the economy
- The IMF has recommended privatization of state entities, increasing tax revenue and reducing duplicated expenditures for a new program
KARACHI: The Pakistan Peoples Party (PPP), one of the coalition partners in the Pakistani government, on Monday said it would resist privatization of the country’s national airline and other state entities regardless of its potential impact on the government’s talks with the International Monetary Fund (IMF) this month for a new bailout program.
Pakistan last month completed a short-term, $3 billion IMF program, which helped stave off a sovereign default, but the government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term program.
An IMF mission is expected to visit Pakistan in the mid of May to discuss the upcoming budget, policies and reforms under a potential new program. Pakistan’s financial year runs from July to June and its budget for fiscal year 2025, the first by Sharif’s new government, has to be presented before June 30.
Pakistan’s Finance Minister Muhammad Aurangzeb on Monday said he was hopeful that the Pakistan International Airlines (PIA) and other privatization deals would get through the “finishing line” by early July.
“The IMF is not in our ten points, IMF is not part of our manifesto,” said Senator Taj Haider, a senior PPP figure, when asked if his party had assessed repercussions of its opposition to the government’s privatization move.
“Those who are the slaves of the IMF should be worried. We must stand on our own feet and not look toward the outsiders.”
The PPP, whose co-chairman Asif Ali Zardari is currently serving as the president of Pakistan, has formed a three-member committee to engage with the government on privatization issues.
Haider said his party had already offered the government to hand over the Pakistan Steel Mills to the Sindh government which had the capacity to run it, while the PIA should be run through public-private partnership (PPP).
“Government entities, including the PIA and the Steel Mills, should not be privatized because they will sell their valuable properties and won’t make them sustainable like we have witnessed in the past,” he said.
“No privatization has been successful, and no public-private partnership (PPP) has been unsuccessful.”
In the past, Haider said, privatization drives remained unsuccessful because the process had only been aimed at selling state properties.
“The PIA’s problem is an outcome of mismanagement,” he said. “If other airlines are making profit, then why PIA cannot do it.”
Speaking at a conference in Islamabad on Monday, Finance Minister Aurangzeb outlined reforms under a new IMF deal, saying the government had to broaden its tax base and increase the tax-to-GDP ratio.
“And the third one is the SOE [state-owned enterprises] reform,” Aurangzeb said. “Our prime minister has been very clear that the government has no business being in business … We need to and we will accelerate the privatization agenda.”
Hidayatullah Khan, president of a union of PIA employees, lamented that private airlines had been given several domestic routes of the PIA, while the aircraft of the national airline were left standing.
“If PIA is not making profit, it’s an issue of the management, whose policies have destroyed the airline,” Khan said, adding the airline employees would stage protests in Karachi and Islamabad to stop the privatization of the airline.
Ali Khizar, an Islamabad-based financial and development consultant, said the privatization of the PIA was not the “primary concern” of the IMF.
“IMF has advocated for the privatization, including that of PIA, for quite some time, but its primary concerns are increasing taxation and reducing duplicated expenditures,” Khizar told Arab News.
“While privatization won’t greatly affect talks with the IMF, I believe PIA should indeed be privatized.”
Last week, Pakistan pushed back the deadline for companies to express interest in buying PIA to May 18, a day before the expressions had originally been due. The privatization commission says 10 companies have already expressed an interest.
Pakistan’s government has previously said it was putting on the block a stake of between 51 percent and 100 percent in the loss-making airline.
The disposal of the flag carrier is a step that past elected governments have steered away from as it is likely to be highly unpopular, but progress on privatization is key to helping cash-strapped Pakistan pursue further funding talks with the IMF.
US envoy meets parliamentary leader of Pakistan’s opposition, a key Imran Khan aide
- Khan, who leads the PTI party, has accused Washington of siding with generals and political rivals to orchestrate his 2022 ouster
- The PTI says it used the meeting with the envoy as an opportunity to remind the US that it had to respect Pakistan’s constitution
ISLAMABAD: United States (US) Ambassador to Pakistan Donald Blome on Monday held his first meeting with Omar Ayub Khan, the parliamentary leader of the opposition in the National Assembly and a key aide to former prime minister Imran Khan, the US embassy said.
Khan is the founder of Pakistan’s main opposition party, the Pakistan Tehreek-e-Insaf (PTI), which has accused Washington of siding with the powerful military and Khan’s political rivals to orchestrate his ouster from the PM’s office in April 2022. All three have denied the accusation.
The PTI has since sought support from US lawmakers in investigating alleged rights abuses and crackdown on its supporters in the wake of Khan’s unprecedented campaign of defiance against the country’s powerful military.
“US Ambassador Donald Blome met today with Leader of the Opposition in the National Assembly Omar Ayub Khan and other senior members of the opposition to discuss a broad range of issues important to the bilateral relationship, including US support for continued economic reforms, human rights, and regional security,” the US embassy said in a statement.
The PTI said it had used the meeting as an opportunity to remind the US that it had to respect Pakistan’s constitution.
“Our leader Imran khan has always told us one thing that you must hold dialogue on a level of equality. What we wanted to make clear was that the international community, which includes America too, should respect the constitution of Pakistan,” Omar Ayub said in televised comments.
“We have clarified this that we do not demand anything from anyone we only demand that the constitution of Pakistan is respected and accepted by the whole world.”
During the meeting, the US embassy said, Ambassador Blome highlighted the importance of long-term reforms for sustainable economic growth of Pakistan.
“Ambassador Blome underscored the United States’ support for Pakistan to engage constructively with the IMF on its reform program,” it said.
Pakistan last month completed a short-term, $3 billion program, which helped stave off a sovereign default, but the government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term program.
The PTI, in a letter written to the IMF earlier this year, had asked the global lender to factor in the country’s political stability in any further bailout talks with Pakistan, according to party members familiar with the matter.
Khan’s opponents previously accused him of scuttling an IMF deal under a $6 billion Extended Fund Facility days before leaving his office, a charge he denies.
Pakistan narrowly averted default last summer, and its $350 billion economy has stabilized after the completion of the last IMF program, with inflation coming down to around 17 percent in April from a record high 38 percent last May.
It is still dealing with a high fiscal shortfall and while it has controlled its external account deficit through import control mechanisms, it has come at the expense of stagnating growth, which is expected to be around 2 percent this year compared to negative growth last year.
Pakistan and the IMF are expected to begin formal talks for a fresh program after the arrival of an IMF team in Islamabad in the mid of May. Islamabad has said it expects a staff-level agreement by July.
Babar hoping paceman Rauf will regain full fitness and make an impact for Pakistan at T20 World Cup
- Fast bowler Rauf has been included in an 18-man squad for the upcoming tours of Ireland and England
- Pakistan has done well in last two T20 World Cups, reaching semifinals in 2021, final at 2022 tournament
ISLAMABAD: Pakistan captain Babar Azam is hoping Haris Rauf will regain full fitness after a shoulder injury and make an impact at next month’s T20 World Cup.
Fast bowler Rauf has been included in an 18-man squad for the upcoming tours of Ireland and England, with Pakistan delaying its 15-strong party for the World Cup in the United States and West Indies until May 22.
The fitness of Rauf, Mohammad Rizwan, Irfan Khan and Azam Khan will be assessed during the seven T20s against Ireland and England.
“I wasn’t expecting that he (Rauf) would recover so early and start bowling again,” Babar told reporters in Lahore on Monday as the team prepared to fly out to Ireland, where the first T20 will be played in Dublin on Friday.
“There’s pressure on him to make a comeback. There’s lot of talk going around on his injury and how he will respond to it. But I think he will make a good response because when you give yourself proper rest mentally and physically, you can make a different impact.”
Rauf has been out since dislocating his shoulder in late February during the Pakistan Super League. Since then he has gone through rehabilitation at the National Cricket Academy in Lahore.
The seven-member selection committee, which also includes Babar, have named fast bowler Hasan Ali, who last played a T20 international in 2022, as backup for Rauf.
Babar backed the inclusion of Hasan after pace bowlers Zaman Khan, Mohammad Wasim and the PSL’s top wicket-taker Mohammad Ali were omitted.
“There’s no injustice with anyone. We debated a lot on the World Cup combination and Hasan is there as backup for Rauf because of his experience,” Babar said. “Zaman and Ali are new-ball bowlers but we already have enough new-ball bowling options.”
Fast bowler Mohammad Amir, who played in two T20s against New Zealand after ending his retirement, Shaheen Shah Afridi, Naseem Shah and Abbas Afridi are Pakistan’s pace options.
Under Babar, Pakistan has done well in the last two T20 World Cups, reaching the semifinals in 2021 at the United Arab Emirates and losing to England in the final at the 2022 tournament in Australia.
The chairman of the Pakistan Cricket Board, Mohsin Naqvi, has promised a cash award of $100,000 to every player if the team wins the tournament.
“What happened in the past is in the past, unfortunately we couldn’t finish the way we wanted,” Babar said. “We’re doubly confident and believe we can bring the trophy home.”
Pakistan starts its campaign against host United States in Dallas on June 6 before taking on arch-rival India in New York three days later.
White-ball head coach Gary Kirsten will likely join the team in England after completing his Indian Premier League assignment with Gujarat Titans.
Pakistan stocks continue to rally on Saudi investment optimism, decline in inflation
- A 50-member delegation led by Saudi Arabia’s Assistant Minister of Investment Ibrahim Al-Mubarak arrived in Pakistan on Sunday
- Pakistan and Saudi Arabia have seen a flurry of bilateral visits in recent weeks that have fueled hopes of investment in South Asian country
KARACHI: Pakistan’s benchmark share index closed at another all-time high by registering a 1.2 percent gain as bulls celebrated the arrival of a high-level investment delegation from Saudi Arabia, analysts said on Monday.
The KSE-100 index witnessed a bullish trend, gaining an intraday high of 1,158.65 points that marked a 1.61 percent increase. It closed at 72,764.24 points, up by 1.20 percent.
Stock analysts said the major contributing factor behind the bullish close was the arrival of a 50-member Saudi business delegation in Pakistan for potential investments and a drop in inflation.
“Today’s all the bullish activity was because of the Saudi delegation visiting Pakistan to explore investment opportunities,” Sheheryar Butt, portfolio manager at Darson Securities, told Arab News.
The delegation, led by Saudi Arabia’s Assistant Minister of Investment Ibrahim Al-Mubarak, arrived in Pakistan on Sunday. It comprises representatives of some 30 Saudi companies from the fields of IT, telecom, energy, aviation, construction, mining exploration, agriculture and human resource development.
Butt said the encouraging remarks by the visiting Saudi investment minister on Monday also played a key role in keeping the market in the green zone.
Addressing an investment summit in Islamabad, the Saudi minister said Pakistan was a “high priority” economic opportunity and the Kingdom believed in the potential of Pakistan’s economy, demographics and talent as well as location and natural resources.
Speaking at the summit, Pakistan Finance Minister Muhammad Aurangzeb said foreign investment was vital to macroeconomic stability in Pakistan and the visit of Saudi investors was a link in this chain.
Auzrangzeb said Prime Minister Shehbaz Sharif’s successful visit to Saudi Arabia opened the way for economic cooperation between the two countries.
“The visit of a delegation of Saudi investors to Pakistan is also a part of paving the way for this economic cooperation,” the minister said. “The government is now moving toward privatization and PIA [Pakistan International Airlines] will also be privatized.”
He said export-led growth, foreign direct investment (FDI) and excess to capital were top priorities of the government, and it was working on short, medium and long-term strategies as well as structural economic reforms.
Ali Nawaz, CEO of Chase Securities, attributed the bullish trend at the stock market to the arrival of the Saudi investment delegation.
“This news likely injected optimism into the market as it suggests potential for increased foreign investment, bolstering investor confidence,” Nawaz said.
Other factors, he said, included a decline in inflation that fueled a positive sentiment.
“Lower inflation rates typically indicate a healthier economic environment, fostering expectations of potential interest rate cuts in the future,” he added.
