PM Imran Khan deposits precious watch gifted by Saudi Crown Prince

ISLAMABAD: Prime Minister Imran Khan deposited a precious wrist watch gifted to him by the Saudi Crown Prince Mohammad Bin Salman to the Toshakhana.

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The wrist watch, reportedly a Chopard, priced more than sixteen million, was gifted to the prime minister by the Saudi Crown Prince during a recent visit to the Kingdom.

According to a report on Imran Khan official Facebook page, the premier could have retained this precious gift by paying 10% of the price but he preferred not to.

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A necklace donated by the Turkish First Lady to the flood victims in 2010 triggered controversy when the then PM Yousuf Raza Gilani kept it with himself and returned to the authorities after an inquiry.

The monetary limits upto which the gifts can be retained by the recipients are as follows:-

• Gifts upto a value of Rs. 10,000/-(Rupees ten thousand only) may be retained free of cost by the recipient subject to the provision of these rules.
  
• Gifts valued above Rs. 10,000/- may be allowed to be retained by the recipient on payment of 20% of the value exceeding the basic exemption of Rs.10,000/-.
  
•  Gifts valued at Rs. 1.0 million or more shall not be retained by the recipient, except the President and the Head of the Government. However the recipient of gift comprising distinct articles but gifted in a single transaction having collective value of Rs. 1.0 million or more shall have an option to retain any article(s) upto the collective value of less than Rs. 1.0 million only subject to the condition that part of an article will not be allowed to be taken. This exemption shall however not be available in case of antiques and gifts of intrinsic historical value.
  
• Different gift articles given by a single dignitary to a functionary at one occasion will be treated as single gift for the purpose of valuation.
  
• The maximum monetary limit to be allowed for retention of gifts in one calendar year for any functionary other than the President or the Prime Minister should not exceed Rupees 2.5 million. However the gifts having value in excess of the limit of Rupees 2.5 million can be retained by the recipient on payment of 65% of the assessed value of the gifts.
  
• The recipient should collect the gifts after payment of retention price within four months failing which it will become the property of the Toshakhana and will be disposed of as per Toshakhana Rules.