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Toshakhana wristwatches sold in Dubai or Islamabad? Contradiction found in Geo, Jang media reports

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Toshakhana wristwatches, Geo News report, The News report, Jang report, Kasim Abbasi

Contradictions were found in the news stories published by the Geo and Jang Media Groups regarding the Toshakhana wristwatches whether they were sold in Dubai or Islamabad.

The English daily The News owned by Jang Media Group had reported on June 29 that former prime minister and Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan sold three watches from Toshakhana collectively worth more than Rs154 million to a local watch dealer.

Toshakhana’s wristwatch sale saga: It’s govt, Geo News, Umar Farooq vs PTI

The report published by journalist Kasim Abbasi read, “Details of an official inquiry shared with this correspondent reflect Imran Khan earned millions of rupees from these jewel-class watches gifted to him by foreign dignitaries. These watches are in addition to the ones reported earlier in the media.”

“The most expensive watch — more than Rs101 million value — was retained by the-then prime minister at 20 percent of its value after his government amended the Toshakhana rules and settled the gift retention price at 50 percent of its original value.”

“Instead of buying those gifted jewel watches from Toshakhana from his own pocket, the ex-prime minister first sold the watches and then deposited 20 percent of each in the government treasury, reveals documents and sale receipts available with this scribe.”

Apparently, these gifts were never deposited in Toshakhana. The gift received by any government official is to be reported immediately, so its value is assessed. And after that the recipient deposits specific amount if he wants to keep it.

Toshakhana documents reveal the former prime minister earned Rs36 million from the sale of these three expensive watches gifted by visiting dignitaries from friendly Gulf countries. A real windfall profit was earned through sale of a watch gifted to him by a high dignitary from Middle East. This watch was officially assessed at Rs101 million. 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.

It is pertinent to mention here that this watch was sold on January 22, 2019 after the-then PTI government amended the Toshakhana rules and made retaining price of any gift at 50 percent from 20 percent 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 20pc 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.

Geo News report

On the other hand, Geo News brought forwarded a Norwegian-Pakistani millionaire Zahoor Farooq Zahoor who claimed that he has evidence to prove he bought the rare Graffe wristwatch and three other Toshakhana gifts from Farhat Shahzadi alias Farah Gogi for 7.5 million Dirhams in cash.

The expensive wristwatch worth at least Rs2 billion was gifted by Saudi Crown Prince Mohammad bin Salman to former prime minister Imran Khan and was allegedly sold by Farah Gogi and Shahzad Akbar to Dubai-based businessman Umar Farooq Zahoor, according to Geo News.

The businessman appeared on Aaj Shahzeb Khanzada Kay Sath on Geo News to show evidence of the purchase as well as all the Toshakhana gifts he owns now.

The businessman alleged that he was later on blackmailed and fake cases of money laundering were registered against him by the Federal Investigation Agency (FIA) at the behest of Shahzad Akbar after he refused to listen to the demands made by his former wife Sophia Mirza.

In an affidavit, Zahoor says: “I Umar Farooq, S/O late Zahoor Ahmed resident of R/o (Address as Per Cnic) House No D-102/1, Block-4, Clifton Karachi, currently Residing at Muhammad Bin Rashid City, District One, Dubai, United Arab Emirates (UAE) do hereby solemnly affirm and declare on oath that I was introduced to Ms Farhat Shahzadi by Mr Shehzad Akbar and bought the following ornaments, jewellery SET 2 by Graff from Ms Farhat Shahzadi having CNIC No 35201-2625741-8 and passport No. BP5147413 for AED Seven Million and Five Hundred Thousand Dirhams (AED 7,500,000) paid as cash”.

Zahoor’s affidavit lists the four gifts he purchased from Farah Gogi, which were given to former PM Imran Khan by Saudi Crown Prince Mohammad bin Salman.

The gifts mentioned include Diamond MasterGraff Tourbillon Minute Repeater with Makkah Map Dial GM2751, Diamond Cufflinks with 2.12ct H IF and 2.11ct I IF Round Diamonds GR46899, Diamond Gent’s Ring 7.20cts, VVSl Rose Gold Pen Set with Pave Diamonds and Enamel Mecca Map.

Fawad Chaudhry’s clarification

PTI leader Fawad Chaudhry tweeted, “As per Geo TV own report Gifts were sold in 2019. Evaluation was done on 15-11-2022. I.e Today from a corner shop in IDFC Dubai, apparently just before recording todays TV program.” He said that the political rivals said in a Twitter that a wristwatch worth Rs5 million was never given to any prime minister.

After the latest revelations regarding the Toshakhana wristwatch saga, questions arose about whether the government will hold an inquiry into claims and counterclaims made by Geo News, Pakistan Tehreek-e-Insaf (PTI) leaders and other media reports.

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