Toshakhana gifts: Ex-PM Imran Khan earned Rs 36 million from selling three gifted watches to local dealer

ISLAMABAD: Deposed Prime Minister of Pakistan Imran Khan earned Rs 36 million by illegally selling three watches given to him by foreign dignitaries to a local watch dealer, according to media reports on Wednesday.
According to the details of an official investigation shared with Geo News, Khan during his tenure as prime minister made millions of rupees from these high-end watches worth more than 154 million rupees. The watches were given to him by foreign leaders.
The most expensive watch – worth more than Rs 101 million – was kept by the then prime minister at 20% of its value after his government revised it Toshakhana rule and finalize the price withholding the gift at 50% of its original value, the report said.
Geo News reported that these watches in addition to the ones sold Gift Toshakhana previously reported in the media.
Under Pakistani law, any gift received from dignitaries of a foreign state must be deposited in the state depository or Toshakhana.
The report said that, instead of buying jewelry watches donated from Toshakhana out of his own pocket, the cricketing politician first sold these watches and then deposited 20% of each into the main treasury. government.
Apparently, these gifts were never sent into Toshakhana. Gifts received by any government official will be reported immediately, so its value can be assessed. Only after sending the gift can the recipient pay a specific amount if he wants to keep it.
Toshakhana’s documents reveal that Khan earned Rs 36 million from selling these three people expensive watches donated by dignitaries from friendly Gulf countries to visit.
A real profit was made through the sale of a watch – officially valued at Rs 101 million – gifted to him by a high dignitaries from the Middle East.
The 69-year-old Pakistan head Tehreek-e-Insaf (PTI) has stated that he sold the watch for Rs 51 million and deposited Rs 20 million in the government treasury, thus earning a whopping 31 million. million Rs. This reflects the watch was sold for half its true value.
The watch went on sale on 22 January 2019 after the then PTI government revised Toshakhana’s rules and kept the price of any gift at 50% from 20% of its assessed value. .
A Rolex Platinum watch gifted by a member of the royal family from a Gulf island was sold by Khan for Rs 5.2 million.
This expensive gift, according to the Toshakhana rules, was valued by the official appraisers for Rs 3.8 million. He deposited into the government treasury 20% of the value up to Rs 0.75 million, making almost Rs 4.5 million in profit selling this watch. This watch went on sale in November 2018, two months after it was presented to him.
Another Rolex watch gifted by a dignitary from the same Gulf country was sold by the former prime minister for Rs 1.8 million. The officially assessed value for this watch is Rs 1.5 million.
The former prime minister paid Rs 0.29 million, earning an additional Rs 1.5 million from the deal, the report said.
All of these gifts were sold to a local watch dealer. The listing has sales receipts along with pictures of these luxury watches.
Responding to the Toshakana controversy, Khan previously said that they were his gifts, so keeping them or not was his choice.
“Mera tohfa, meri marzi (my gift, my choice),” PTI President told reporters in an informal chat.
The matter came to light when the prime minister Shehbaz Sharif Khan said during his tenure sold Toshakhana gifts in Dubai worth Rs 140 million.
According to reports, the former prime minister received 58 gifts worth more than Rs 140 million from world leaders during his 3 and a half years and kept it all by paying a negligible amount or even without even needing any payment.
Meanwhile, accusing the current coalition government of corruption, Khan on Tuesday said 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, describing it as the only way to get the country out of political turmoil.
In his speech on the video link, the President of PTI wondered what disaster had struck in the country where within two months soaring inflation and reduced electricity load were making public life miserable, while The economy is down and the unemployment rate is increasing.
Teasing the incumbent government of Shehbaz Sharif, Khan said the government must come up with a plan to fight inflation or fix the economy as they are considered “very experienced”.
“Two families have ruled the country for 30 years. Instead of reducing inflation and fixing the economy, they just did one thing, NRO-2, to end up Rs1.1 trillion worth of corruption cases against the government. them,” said the former prime minister.
Khan said his government would not allow electricity, diesel and gasoline prices to rise despite pressure from the IMF.

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