News Karnataka
Thursday, November 30 2023

Pakistan: Imran sold three gifted watches to local dealer

Pak govt delaying elections to appoint army chief of choice
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Islamabad: Former Pakistan prime minister Imran Khan sold three watches from Toshakhana collectively worth more than Pak Rs 154 million to a local watch dealer, media reported.

Details of an official inquiry reflect Imran Khan earned millions of rupees from these jewel-class watches gifted to him by foreign dignitaries. These watches are in addition to the ones reported earlier in the media, The News reported.

The most expensive watch – more than Rs 101 million value – was retained by the-then prime minister at 20 per cent of its value after his government amended the Toshakhana rules and settled the gift retention price at 50 per cent of its original value.

Instead of buying those gifted jewel watches from Toshakhana from his own pocket, the ex-prime minister first sold the watches and then deposited 20 per cent of each in the government treasury, reveals documents and sale receipts, The News reported.

Apparently, these gifts were never deposited in Toshakhana. The gift received by any government official is to be reported immediately, so its value is assessed. And after that the recipient deposits specific amount if he wants to keep it.

Toshakhana documents reveal the former prime minister earned Rs 36 million from the sale of these three expensive watches gifted by visiting dignitaries from friendly Gulf countries.

A real windfall profit was earned through sale of a watch gifted to him by a high-level dignitary from Middle East. This watch was officially assessed at Rs 101 million.

The former prime minister had declared he sold it for Rs 51 million and deposited Rs 20 million in the government treasury, thus earning a whopping Rs 31 million. This reflects the watch was sold at half the price of its actual worth, The News reported.

It is pertinent to mention here that this watch was sold on January 22, 2019 after the-then PTI government amended the Toshakhana rules and made retaining price of any gift at 50 per cent from 20 per cent of its assessed value.

One Rolex Platinum watch gifted by a member of a royal family from a Gulf island was sold by Imran Khan for Rs 5.2 million. This expensive gift, as per the Toshakhana rules, was assessed by official evaluators for Rs 3.8 million.

He deposited in the government treasury 20 per cent of the value amounting to Rs 0.75 million, earning almost Rs 4.5 million profit by selling this watch. This watch was sold in November 2018, two months after it was gifted to him.

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