HomeLatest News & UpdatesEx-PM's 'earning through Toshakhana watches exposed' IV News

Ex-PM’s ‘earning through Toshakhana watches exposed’ IV News

Ex-PM’s ‘earning through Toshakhana watches exposed’

Another scam involving former premier Imran Khan in selling Rs154 million watches gifted to him during his premiership, 24NewsHD TV channel reported Wednesday.

These watches were supposed to be submitted to Toshakhana as per the laws that restrict any head of the state to possess the gifts they receive from officials of other countries.

Former prime minister Imran Khan earned Rs36 million by illegally selling three watches gifted to him by foreign dignitaries to a local dealer

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A real windfall profit was made through the sale of a watch gifted to him by a high dignitary from the Middle East. This watch was officially assessed at Rs101 million. The former prime minister had declared he sold it for Rs51 million and deposited Rs20 million in the government treasury, thus earning a whopping Rs31 million. This reflects the watch was sold at half the price of its actual worth.

This watch was sold on January 22, 2019 after the then PTI government amended the Toshakhana rules and made retaining the price of any gift at 50% from 20% 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 Rs5.2 million. This expensive gift, as per the Toshakhana rules, was assessed by official evaluators for Rs3.8 million. He deposited in the government treasury 20% of the value amounting to Rs0.75 million, earning almost Rs4.5 million profit by selling this watch. This 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 island was sold by the former prime minister for Rs1.8 million. The official value assessed for this watch was Rs1.5 million. The former PM paid Rs0.29 million, earning another profit of Rs1.5 million from this deal.

All these gifts were sold to a local watch dealer. The record has the sale receipts along with pictures of these luxury watches.


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