Phyang has a 900-year-old museum with an extensive collection of idols, thangkas, scriptures, and Tibetan, Chinese and Mongolian weapons. The monastery complex also has a temple of Mahakal which was built around the same time as the monastery was built. The gompa has a school of its own, known as Ratnashri School, which was founded with the purpose to teach young Buddhist monks not only about Buddhism but also modern education. Like every monastery, Phyang celebrates its annual festival Phyang Tsedup on 17th to 19th days of the first month of the Tibetan calendar, which usually falls in July/August.
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