Imran Khan’s austerity drive has taken the whole Pakistan by storm. In order to avert the nation’s financial crisis and massive budget deficit, ministers and government officials have been ordered not to indulge in lavish spendings.
The Prime Minister himself seems to be working day and night to elevate the country’s economy. And the latest contribution of Khan in national treasury is no different.
A news clip by Gourmet News Network reveals that Saudi Arabia’s Crown Prince Muhammad Bin Salman gifted an expensive watch by the Swiss watchmaker and jewelry maker, ‘Chopard’ to Prime Minister Imran Khan.
The report reveals that the watch was worth more than Rs. 16.8 million. It is a Happy Sport 36 MM Automatic that comes with 18-carat rose gold, stainless steel, and diamonds.
However, Imran Khan has submitted the watch to the national treasury.
As per law, the PM could have kept the watch by paying 10% of the price but he preferred not to.
In 2010, an expensive necklace was donated to the flood victims by the Turkish First Lady. However, PM Yousuf Raza Gilani kept it himself and returned to the authorities after an inquiry.
The patriotic move by Imran Khan is being lauded by media and is being considered as a proof of his loyalty to Pakistan.
The monetary limits to which the gifts can be retained by the recipients are as follows:-
- Gifts up to 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 million or more shall not be retained by the recipient, except the President and the Head of the Government. However, the recipient of the gift comprising distinct articles but gifted in a single transaction having a collective value of Rs. 1 million or more, shall have an option to retain any article(s) to the collective value of less than Rs. 1 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 a 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 Rs. 2.5 million. However, the gifts having value in excess of the limit of Rs. 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.