Imran Khan, the former prime minister, and his wife Bushra Bibi reportedly retained gifts from Saudi Crown Prince Mohammed Bin Salman stored in Toshakhana by paying only Rs180 million, significantly less than their estimated value of Rs3.16 billion, as per a National Accountability Bureau (NAB).
The NAB report revealed a lack of a proper system for accurately assessing the value of gifts in Pakistan, with gifts valued at Rs3.16 billion assessed at just Rs180 million. Allegedly, the Pakistan Tehreek-e-Insaf (PTI) founder and his wife retained the gifts after making a partial payment of Rs90 million.
The report highlighted that no institution in Pakistan could determine the value of a jewelry set gifted by the Saudi crown prince. Estimates from Dubai suggested a loss of Rs1.57 billion to the treasury. A committee comprising the Federal Board of Revenue of Pakistan (FBR) and the Collectorate of Customs admitted its inability to ascertain the gifts’ value.
Efforts to obtain valuation from the Industries and Production Division were thwarted as the Gems and Jewellery Development Company was inactive. Additionally, the Gems and Jewellery Traders Association and the Pakistan Mineral Development Corporation could not provide estimates. Despite MLA inquiries in Britain, UAE, Italy, and Switzerland, no responses were received.
Imran Bashir of Embo Ampex FZE, hired by the Pakistani Consulate General in Dubai, claimed the actual value of the gifts to be Rs3.16 billion, implying that Imran Khan and his wife could have retained the gifts by paying Rs1.57 billion.
The NAB report clarified that there was no evidence indicating intentional undervaluation by government officials for financial gains, resulting in the non-implication of government officials.
