Islamabad: Deposed Prime Minister of Pakistan Imran Khan According to a media report on Wednesday, a local watch dealer earned Rs 36 million by illegally selling three watches gifted by foreign dignitaries.
According to details of an official investigation shared with Geo News, Khan earned lakhs of rupees from these jewelry-class watches, which were collectively worth over Rs 154 million, during his tenure as prime minister. The watches were gifted to him by foreign leaders.
The most expensive watch – valued at over Rs 101 million – was retained by the then prime minister at 20 percent of its value after it was modified by his government. toshakhana rule and fixed the gift retention value at 50 per cent of its original value, the report said.
Geo News told that these watches are in addition to being sold Toshakhana Gifts Earlier reported in the media.
As per the law of Pakistan, any gift received from dignitaries of a foreign state must be kept in the State Depository or Toshakhana.
The report quoted documents and sales receipts as saying that instead of buying those gifted ornaments from Toshakhana out of his own pocket, the cricketer-turned-politician first sold watches and then deposited 20 per cent of each in the exchequer. .
Apparently, these gifts were never deposited in Toshakhana. Any government official has to report the gift received immediately, so that its value can be assessed. Only after the gift is deposited, can the recipient pay a specific amount if he/she wants to keep it.
Toshakhana documents show that Khan earned Rs 36 million from the sale of all three expensive watches Presented by dignitaries from friendly Gulf countries.
A real windfall profit was made through the sale of a watch – officially valued at Rs 101 million – gifted to him by a high dignitary from the Middle East.
The 69-year-old Pakistan Tehreek-e-Insaf (PTI) chief had announced that he had sold the watch for Rs 51 million and deposited Rs 20 million in the exchequer, thus earning Rs 31 million. This shows that the watch was sold at half of its original price.
The watch was sold on January 22, 2019 after the then PTI government amended the Toshakhana rules and the value of any gift was retained at 20 per cent to 50 per cent of its assessed value.
A Rolex Platinum watch gifted by a member of a royal family from a Gulf island was sold by Khan for Rs 52 lakh.
As per Toshakhana rules, this expensive gift was valued by official appraisers at Rs 3.8 million. By selling this watch, he deposited 20 percent of the amount of Rs 0.75 lakh in the government treasury, earning a profit of about Rs 45 lakh. The watch was sold in November 2018, two months after it was gifted to him.
Another Rolex watch gifted by a dignitary from the same Gulf country was sold by the former Prime Minister for Rs 18 lakh. The official value of this watch was estimated at Rs 1.5 million.
The report said the former prime minister paid Rs 0.29 million, making another Rs 15 lakh profit from the deal.
All these gifts were sold to a local watch dealer. The records also contain sales receipts along with photographs of these luxury watches.
Responding to the Toshkana controversy, Khan had earlier said that they were his gifts, so it was his choice whether to keep them or not.
“Mera tohfa, meri marzi (my gift, my choice),” the PTI president told reporters during an informal interaction.
The matter came to the fore when the Prime Minister Shahbaz Sharif He said that Khan sold Toshakhana gifts in Dubai for Rs 14 crore during his tenure.
According to reports, the former prime minister received 58 gifts worth over Rs 14 crore from world leaders during his three-and-a-half-year tenure and retained all of them either by paying a negligible amount or even without any payment.
Meanwhile, accusing the current coalition government of corruption, Khan said on Tuesday that the only way to fix the economy was to bring back half of the billions of dollars held abroad by the Zardari and Sharif families.
The former prime minister reiterated his demand for a fair and transparent general election, calling it the only way to lift the country out of political turmoil.
In his speech over video-link, the PTI president wondered what had happened in the country that within two months, inflation had skyrocketed and electricity loads were making public life miserable, while the economy collapsed. and unemployment was rising.
Taking a jibe at the current government of Shahbaz Sharif, Khan said the government will have to come up with a plan on inflation or fix the economy as he is considered “very experienced”.
The former prime minister said, “Two families are ruling the country for 30 years. Instead of bringing down inflation and fixing the economy, they did only one thing i.e. NRO-2 cleared corruption cases worth Rs 1,100 billion against them. finished.”
Khan said that his government did not allow the prices of electricity, diesel and petrol to rise despite pressure from the IMF.
According to details of an official investigation shared with Geo News, Khan earned lakhs of rupees from these jewelry-class watches, which were collectively worth over Rs 154 million, during his tenure as prime minister. The watches were gifted to him by foreign leaders.
The most expensive watch – valued at over Rs 101 million – was retained by the then prime minister at 20 percent of its value after it was modified by his government. toshakhana rule and fixed the gift retention value at 50 per cent of its original value, the report said.
Geo News told that these watches are in addition to being sold Toshakhana Gifts Earlier reported in the media.
As per the law of Pakistan, any gift received from dignitaries of a foreign state must be kept in the State Depository or Toshakhana.
The report quoted documents and sales receipts as saying that instead of buying those gifted ornaments from Toshakhana out of his own pocket, the cricketer-turned-politician first sold watches and then deposited 20 per cent of each in the exchequer. .
Apparently, these gifts were never deposited in Toshakhana. Any government official has to report the gift received immediately, so that its value can be assessed. Only after the gift is deposited, can the recipient pay a specific amount if he/she wants to keep it.
Toshakhana documents show that Khan earned Rs 36 million from the sale of all three expensive watches Presented by dignitaries from friendly Gulf countries.
A real windfall profit was made through the sale of a watch – officially valued at Rs 101 million – gifted to him by a high dignitary from the Middle East.
The 69-year-old Pakistan Tehreek-e-Insaf (PTI) chief had announced that he had sold the watch for Rs 51 million and deposited Rs 20 million in the exchequer, thus earning Rs 31 million. This shows that the watch was sold at half of its original price.
The watch was sold on January 22, 2019 after the then PTI government amended the Toshakhana rules and the value of any gift was retained at 20 per cent to 50 per cent of its assessed value.
A Rolex Platinum watch gifted by a member of a royal family from a Gulf island was sold by Khan for Rs 52 lakh.
As per Toshakhana rules, this expensive gift was valued by official appraisers at Rs 3.8 million. By selling this watch, he deposited 20 percent of the amount of Rs 0.75 lakh in the government treasury, earning a profit of about Rs 45 lakh. The watch was sold in November 2018, two months after it was gifted to him.
Another Rolex watch gifted by a dignitary from the same Gulf country was sold by the former Prime Minister for Rs 18 lakh. The official value of this watch was estimated at Rs 1.5 million.
The report said the former prime minister paid Rs 0.29 million, making another Rs 15 lakh profit from the deal.
All these gifts were sold to a local watch dealer. The records also contain sales receipts along with photographs of these luxury watches.
Responding to the Toshkana controversy, Khan had earlier said that they were his gifts, so it was his choice whether to keep them or not.
“Mera tohfa, meri marzi (my gift, my choice),” the PTI president told reporters during an informal interaction.
The matter came to the fore when the Prime Minister Shahbaz Sharif He said that Khan sold Toshakhana gifts in Dubai for Rs 14 crore during his tenure.
According to reports, the former prime minister received 58 gifts worth over Rs 14 crore from world leaders during his three-and-a-half-year tenure and retained all of them either by paying a negligible amount or even without any payment.
Meanwhile, accusing the current coalition government of corruption, Khan said on Tuesday that the only way to fix the economy was to bring back half of the billions of dollars held abroad by the Zardari and Sharif families.
The former prime minister reiterated his demand for a fair and transparent general election, calling it the only way to lift the country out of political turmoil.
In his speech over video-link, the PTI president wondered what had happened in the country that within two months, inflation had skyrocketed and electricity loads were making public life miserable, while the economy collapsed. and unemployment was rising.
Taking a jibe at the current government of Shahbaz Sharif, Khan said the government will have to come up with a plan on inflation or fix the economy as he is considered “very experienced”.
The former prime minister said, “Two families are ruling the country for 30 years. Instead of bringing down inflation and fixing the economy, they did only one thing i.e. NRO-2 cleared corruption cases worth Rs 1,100 billion against them. finished.”
Khan said that his government did not allow the prices of electricity, diesel and petrol to rise despite pressure from the IMF.