Former Pakistani Prime Minister Imran Khan sold three Toshakhana watches collectively worth more than 154 million Pakistani rupees to a local watch dealer, media reported.
Details of an official investigation show that Imran Khan earned millions of rupees from these jewel class watches given to him by foreign dignitaries. These watches are in addition to those reported earlier in the media, The News reported.
The most expensive watch worth more than 101 million rupees was withheld by the then Prime Minister at 20% of its value after his government changed the Toshakhana rules and settled the gift retention price at 50% of its original value.
Instead of buying these gifted jewelry watches from Toshakhana out of his own pocket, the ex-PM first sold the watches and then deposited 20% of each in the state treasury, documents and sales receipts reveal , reported The News.
Apparently these gifts were never delivered to Toshakhana. The gift received by any government official must be reported immediately, so that its value is assessed. And after that, the recipient deposits a specific amount if they want to keep it.
Toshakhana documents reveal that the former prime minister earned 36 million rupees from the sale of these three expensive watches donated by visiting dignitaries from friendly Gulf countries.
A real windfall profit was made from the sale of a watch given to him by a high dignitary in the Middle East. This watch has been officially valued at Rs 101 million.
The former Prime Minister said he sold it for Rs 51 million and deposited Rs 20 million in the Treasury, thus earning the modest sum of Rs 31 million. This reflects that the watch was sold for half the price of its real value, The News reported.
It is pertinent to mention here that this watch was sold on January 22, 2019 after the then PTI government changed the Toshakhana rules and set the withholding price of any gift at 50% of 20% of its assessed value .
A Rolex Platinum watch donated by a member of a royal family from a Gulf island has been sold by Imran Khan for Rs 5.2 million. This expensive gift, according to Toshakhana rules, was valued by official appraisers at Rs 3.8 million.
He deposited in the Treasury 20% of the value amounting to 0.75 million rupees, making almost 4.5 million rupees profit by selling this watch. This watch was sold in November 2018, two months after it was given to him.
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