IK sold three watches to local dealer gifted to him as PM for Rs37 million

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan reportedly sold three luxury watches worth more than Rs154 million to a local watch dealer in Islamabad. The watches were gifted to him by visiting dignitaries from Gulf countries when he was Prime Minister (PM), reports The News.

By selling these watches, Khan earned a whopping amount of Rs37million. According to the news report, instead of buying these watches from Toshakhana with his own money, Khan first sold the watches and then deposited 20 per cent of each in the government treasury.

It has been revealed that these gifts were never deposited in Toshakhana. 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.

The most expensive watch among these three was assessed at Rs101 million. However, Khan had declared he sold it for Rs51 million and deposited the 20 per cent of its sales money, which is Rs20 million, in the government treasury, thus earning a whopping Rs31 million. The watch was sold on January 22, 2019.

By selling a Rolex Platinum watch gifted by a member of a royal family from a Gulf island, Khan almost earned Rs4.5 million profit 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 PM. This time Khan made Rs1.5 million profit from this deal.

It is pertinent to mention that these watches are in addition to the ones reported earlier in the media.

In April, PM Shehbaz Sharif revealed that Khan took gifts worth Rs140 million from Toshakhana and sold them in Dubai.

Earlier, responding to the Toshakana controversy, Khan had said they were his gifts, so it was his choice whether to keep them or not.