Steeped in religious history, Pakistan’s KP to host conference for Buddhist countries

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Takht Bhai is the most complete Buddhist monastery in Pakistan founded in the 1st century. (Photo Courtesy of Social Media)
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Ancient remains of a Buddhist monastery in Takht Bhai, in Mardan, KP province. Dec. 8, 2019 (AN photo)
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Reverend Dr. Neung Hur, a leading Buddhist monk and scholar from South Korea, points to his paintings in Islamabad on Dec. 8, 2019. (AN Photo)
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Buddhist scholars Dr. Esther Park and Reverend Dr. Neung Hur, and Sadaf Raza, Director for a Pakistan based NGO, pose for a photo on Dec. 8, 2019. (AN photo)
Updated 09 December 2019
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Steeped in religious history, Pakistan’s KP to host conference for Buddhist countries

  • Pakistan’s government has been working to boost religious tourism in the country
  • Korean Buddhists trace their religious origins to the area that is now Pakistan

PESHAWAR: Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province will host a conference for Buddhist countries next year in a bid to boost greater religious tourism, a senior official said on Saturday.
Buddhist tourism has an estimated market of 500 million Buddhists across the world, according to the US-based think tank, Pew Research Center. For these Buddhists, Pakistan’s Gandhara region in the country’s northwest, which includes Mardan, Taxila and Swat, holds a special place. Specifically, Korean Buddhists trace their religious origin to the area that is now Pakistan, which was where Korean monk Hyecho traveled 1,300 years ago.
In a brief chat with Arab News, spokesperson for the KP Tourism Corporation, Nisar Muhammad, said the idea for a conference first emerged during a meeting between provincial tourism minister, Atif Khan and South Korean Ambassador to Pakistan, Kwak Sung-Kyu on Friday.




Buddhist scholars Dr. Esther Park and Reverend Dr. Neung Hur, and Sadaf Raza, Director for a Pakistan based NGO, pose for a photo on Dec. 8, 2019. (AN photo)

“Though the date has not been specified yet, the conference is expected to be held by the end of January or the start of February next year,” he said.
A statement released by the KP Tourism Corporation said both dignitaries had agreed to set up the Gandhara Research Center in the province with the help of the Korean government. 
“KP has more than 2,000 Buddhist historical and sacred sites and the provincial government is taking effective steps to secure and develop these places,” the statement said, and added that Khan’s government had earmarked Rs. 1 billion for the preservation of all archaeological sites including Buddhist holy sites in the province.
Reverend Dr. Neung Hur, a leading Buddhist monk and academic from South Korea, told Arab News he appreciated the KP government’s efforts in planning to host a Buddhist countries’ conference, which would project sacred Buddhist sites to the world and attract more pilgrimages.




Reverend Dr. Neung Hur, a leading Buddhist monk and scholar from South Korea, points to his paintings in Islamabad on Dec. 8, 2019. (AN Photo)

“This conference is of paramount importance...(it) intends to promote interfaith harmony and bring followers of different faiths closer,” Dr. Hur said. 
Dr. Esther Park, a Korean Buddhist scholar, added that the people of her religious community had matchless regard for the Gandhara region of KP, which had thousands of sacred Buddhist sites. 
“We are keenly looking forward to attend this conference,” she told Arab News. 
Earlier on Wednesday, Sri Lankan High Commissioner to Pakistan, Noordeen Mohamed Shaheid, held a meeting with the Tourism Minister in Peshawar to discuss religious tourism, bilateral relations and investment in various sectors, according to a press release.
On the occasion, Shaheid said 72 percent of the population of Sri Lanka comprised of Buddhists and that a Buddhist delegation would visit Pakistan, especially KP province, early next year.


Pakistan stocks tumble 2.3% as Middle East conflict rattles investors

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Pakistan stocks tumble 2.3% as Middle East conflict rattles investors

  • KSE-100 posts weekly loss of 6.3% as geopolitical tensions trigger sell-off
  • Foreign investors dump $25.5 million in equities amid global energy supply fears

ISLAMABAD: Pakistan’s benchmark stock index fell 2.3% on Friday as investors sold shares ahead of the weekend amid growing fears that the escalating conflict involving Iran could disrupt global energy supplies and trade routes.

The KSE-100 index closed down 3,714.57 points at 157,496.10, after touching an intraday high of 161,435.83 and a low of 157,072.64, according to the Pakistan Stock Exchange (PSX) data. Trading volume stood at about 196 million shares with a value of roughly Rs18.8 billion ($67 million).

The decline capped a volatile week for Pakistani equities, with the benchmark index falling 6.3% week-on-week as geopolitical tensions between Iran, the United States and Israel unsettled investors and triggered risk-off sentiment across regional markets.

“KSE-100 Index declined by -6.3% on a week-on-week basis, and this decline can be attributed to the Middle East conflict (US-Israel vs. Iran), where investors sold their positions in the backdrop of increasing risk to global energy supply and trade routes,” brokerage house Topline Securities said in its weekly review.

Topline said foreign corporate investors were among the largest sellers during the week, offloading equities worth $25.5 million, while mutual funds sold shares worth $54.5 million amid investor redemptions.

Banks, insurance companies and local corporates partly cushioned the sell-off, buying equities worth $36 million, $15.7 million and $14.3 million respectively during the week, according to the review.

Other economic developments during the week included Pakistan’s consumer price inflation for February rising to 6.98% from 5.80% in January and the country’s trade deficit widening to $2.98 billion for the month, up 8% from the previous month and 25% year-on-year.

Average daily trading volumes during the week stood at around 658 million shares, with average daily value reaching about Rs36.2 billion ($130 million), Topline said.