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Buyer could not afford to buy jewel watch for Rs50m from Imran Khan: data

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  • Net income of buyer’s shop is Rs12 million for year 2018 to 2022.
  • Tax returns show shop kept highest stock of Rs1.8m in 5 years.
  • Buyer sold watch shop at start of this year and fled to Dubai: sources.

ISLAMABAD: The wealth statement and tax returns of Muhammad Shafiq and his watch shop Art of Time show no indication that he could afford to buy the famous jewel watch set from ex-prime minister Imran Khan for Rs50 million, reveals official data available with The News.

The net income of the shop ‘Art of Time’, according to the tax returns filed by Shafiq for the year 2018 to 2022, is approximately Rs12 million, reflecting the income tax returns of Shafiq’s watch shop business. 

Interestingly, the wealth statement of Shafiq during these five years shows his total assets to have grown from Rs2.8 million in 2018 to Rs10.6 million in 2022. Further, details of Shafiq’s bank account show that from 2019 till now, he had the highest balance of up to Rs4.5 million in his bank accounts and had withdrawn a maximum of Rs1 million during this period.

The income tax returns of the watch shop ‘Art of Time’ further reveal that the shop had kept the highest stock of Rs1.8 million in these five years. Whereas net purchases by Art of Time from 2018 to 2020 stood at around Rs20 million. This means that the total stock of watches purchased by the Art of Time in all these years was worth Rs20 million only.

It is pertinent to mention here that Imran Khan had deposited sale receipts of the watch for Rs50 million to this same shop and to this same man, Shafiq. The former premier along with his party members are repeatedly claiming that the famous jewel class gifted watch by Saudi Crown Prince Mohammad bin Salman was sold to this man — Shafiq — for Rs50 million in January 2019.

A well-placed government official on condition of anonymity approved the authenticity of these documents related to Shafiq and revealed that an inquiry was also being done on the matter by the authorities.

Explaining further, the source said that the authorities are perplexed how can a man sell a watch worth Rs100 million for just Rs50 million. This Rs100 million value of this watch was too assessed by Imran Khan’s own government. 

“We are also intrigued that why would someone leave a private receipt in official records?” said the official. It is important to mention here that these receipts were not found in the Toshakhana record but from Prime Minister’s House, in the office of the military secretary to the prime minister.

When questioned about Shafiq, the source replied that the authorities are investigating his whereabouts and the National Accountability Bureau (NAB) is also looking for him in the Toshakhana case. According to sources, Shafiq has now sold this watch shop at the start of this current year and has fled to Dubai.

Fawad Chaudhary and Shahbaz Gill were approached for their comments but neither responded. The question sent to them was, “The wealth statement and tax returns of Muhammad Shafiq and his shop ‘Art of Time’ show no proof of his affordability to buy a watch for 50 million rupees. His acc details along with his business tax returns and wealth statement show that his total business capital was 2 million rupees. His total assets grew from 2m to 10m from 2018 to 2022. Q) How is it possible that such a man could buy such an expensive watch? Please comment. Your immediate response will be highly appreciated.”

Whereas, Umar Farooq Zahoor who possesses the same watch right now, when contacted by The News, insisted that he had bought the watch from Farah Khan in 2019 for Rs280 million. Umar said that Khan had sent a notice to him in which he also mentioned of selling the watch to Art of Time for Rs50 million. In his view, all claims by PTI and Khan regarding the gifted watch were lies.

Zahoor previously displayed this Special Edition Graff watch – one of its kind made by the finest craftsmen in the world – before the camera and claimed of buying it from Farah in Dubai back in 2019 in April for $2 million, which stood at around Rs280 million at that time.

On the other hand, the receipt of the sale of this same special edition watch to Art of Time was deposited by the former premier himself before the Cabinet Division. The receipt dated January 22, 2019, present with The News, specifically mentions of purchasing a set containing a Graff gents watch, a ring, pair of cufflinks and a pen from Khan.

On the same day on January 22, official documents of the State Bank of Pakistan show that Imran Khan deposited Rs20.1 million in the government treasury (20% of Rs100 million assessed value by Toshakhana). It is not clear whether the watch was sold before depositing Rs20.1 million in the government treasury or it was deposited after Khan sold the watch.

Whereas, Zahoor said on Geo News that he received a call from the then accountability minister Shahzad Akbar and was informed about the gifted watch and was asked if he was interested in buying it. He claimed that he bought this watch through Farah, who came to Dubai and took $2 million in cash (7.5-million-dirham approx.).

If Zahoor’s story is to be believed, Khan made a whooping profit of Rs250 million. Whereas if the ex-premier deposited sale receipts and his view is to be believed, he got a profit of Rs30 million.

The income tax returns of Shafiq’s business for the year 2018 show that the business’s total income stood at around Rs2 million during this whole year. The net purchases for the year by Art of Time stood at a little over Rs8 million. The cost of sales by the business for the year 2018 was around 8.1 million.

In 2019, the documents available with this correspondent show that this watch shop generated a total income of Rs3.38 million with an opening stock of Rs0.85 million and a closing stock of Rs0.93 million.

In 2020, the total income declared by Art of Time was approximately Rs1.7 million with an opening stock of Rs0.93 million and a closing stock of Rs1.8 million. In 2021 and 2022, the watch shop showed a total income of nearly Rs5 million during both these years.

In addition to this, Shafiq’s wealth statement shows that his total assets increased from Rs2.8 million to Rs10.6 million from 2018 to 2022. In 2020, Shafiq also disclosed a 19 tola gold set belonging to his wife but nowhere did he mention the so-called watch bought from Khan, the former prime minister.

Further, the details of Shafiq’s bank account show the highest balance of up to Rs4.5 million from 2019 to 2022. The transaction details also reflect that a maximum of Rs1 million have been withdrawn by Shafiq in these all years.

The jewel-class watch box gifted to Khan by Saudi Prince Mohammad bin Salman had over 2,000 diamonds weighing almost 41.54 carats in total and was valued at around Rs100 million by the Cabinet Division during Khan’s tenure. Now, the same set is valued at over Rs1.7 billion by TimeZone Watch Ltd, Dubai.

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Supreme Court annuls trials of civilians in military courts

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In a unanimous verdict, a five-member bench of the Supreme Court on Monday declared civilians’ trials in military courts null and void as it admitted the petitions challenging the trial of civilians involved in the May 9 riots triggered by the arrest of Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan in a corruption case.

The five-member apex court bench — headed by Justice Ijaz Ul Ahsan, and comprising Justice Munib Akhtar, Justice Yahya Afridi, Justice Sayyed Mazahar Ali Akbar Naqvi and Justice Ayesha Malik — heard the petitions filed by the PTI chief and others on Monday.

The larger bench in its short verdict ordered that 102 accused arrested under the Army Act be tried in the criminal court and ruled that the trial of any civilian if held in military court has been declared null and void.  

The apex court had reserved the verdict earlier today after Attorney General of Pakistan (AGP) Mansoor Usman Awan completed his arguments centred around the domain and scope of the military courts to try the civilians under the Army Act. 

At the outset of the hearing today, petitioner lawyer Salman Akram Raja told the bench that trials of civilians already commenced before the top court’s verdict in the matter.

Responding to this, Justice Ahsan said the method of conducting proceedings of the case would be settled after Attorney General of Pakistan (AGP) Mansoor Usman Awan completed his arguments.

Presenting his arguments, the AGP said he would explain to the court why a constitutional amendment was necessary to form military courts in 2015 to try the terrorists.

Responding to Justice Ahsan’s query, AGP Awan said the accused who were tried in military courts were local as well as foreign nationals.

He said the accused would be tried under Section 2 (1) (D) of the Official Secrets Act and a trial under the Army Act would fulfill all the requirements of a criminal case.

“The trial of the May 9 accused will be held in line with the procedure of a criminal court,” the AGP said.

The AGP said the 21st Amendment was passed because the terrorists did not fall in the ambit of the Army Act.

“Amendment was necessary for the trial of terrorists [then] why amendment not required for the civilians? At the time of the 21st constitutional amendment, did the accused attack the army or installations?” inquired Justice Ahsan.

AGP Awan replied that the 21st Amendment included a provision to try accused involved in attacking restricted areas.

“How do civilians come under the ambit of the Army Act?” Justice Ahsan asked the AGP.

Justice Malik asked AGP Awan to explain what does Article 8 of the Constitution say. “According to Article 8, legislation against fundamental rights cannot be sustained,” the AGP responded.

Justice Malik observed that the Army Act was enacted to establish discipline in the forces. “How can the law of discipline in the armed forces be applied to civilians?” she inquired.

The AGP responded by saying that discipline of the forces is an internal matter while obstructing armed forces from discharging duties is a separate issue.

He said any person facing the charges under the Army Act can be tried in military courts.

“The laws you [AGP] are referring to are related to army discipline,” Justice Ahsan said.

Justice Malik inquired whether the provision of fundamental rights be left to the will of Parliament.

“The Constitution ensures the provision of fundamental rights at all costs,” she added.

If the court opened this door then even a traffic signal violator will be deprived of his fundamental rights, Justice Malik said.

The AGP told the bench that court-martial is not an established court under Article 175 of the Constitution.

At which, Justice Ahsan said court martials are not under Article 175 but are courts established under the Constitution and Law.

After hearing the arguments, the bench reserved the verdict on the petitions.

A day earlier, the federal government informed the apex court that the military trials of civilians had already commenced.

After concluding the hearing, Justice Ahsan hinted at issuing a short order on the petitions. 

The government told the court about the development related to trials in the military court in a miscellaneous application following orders of the top court on August 3, highlighting that at least 102 people were taken into custody due to their involvement in the attacks on military installations and establishments. 

Suspects express confidence in mly courts

The same day, expressing their “faith and confidence” in military authorities, nine of the May 9 suspects — who are currently in army’s custody — moved the Supreme Court, seeking an order for their trial in the military court be proceeded and concluded expeditiously to “meet the ends of justice”.

Nine out of more than 100 suspects, who were in the army’s custody, filed their petitions in the apex court via an advocate-on-record.

The May 9 riots were triggered almost across the country after former prime minister Imran Khan’s — who was removed from office via a vote of no confidence in April last year — arrest in the £190 million settlement case. Hundreds of PTI workers and senior leaders were put behind bars for their involvement in violence and attacks on military installations.

Last hearing

In response to the move by the then-government and military to try the May 9 protestors in military courts, PTI Chairman Imran Khan, former chief justice Jawwad S Khawaja, lawyer Aitzaz Ahsan, and five civil society members, including Pakistan Institute of Labour Education and Research (Piler) Executive Director Karamat Ali, requested the apex court to declare the military trials “unconstitutional”.

The initial hearings were marred by objections on the bench formation and recusals by the judges. Eventually, the six-member bench heard the petitions.

However, in the last hearing on August 3, the then-chief justice Umar Ata Bandial said the apex court would stop the country’s army from resorting to any unconstitutional moves while hearing the pleas challenging the trial of civilians in military courts.

A six-member bench, led by the CJP and comprising Justice Ijaz Ul Ahsan, Justice Munib Akhtar, Justice Yahya Afridi, Justice Sayyed Mazahar Ali Akbar Naqvi, and Justice Ayesha Malik, heard the case.

In the last hearing, the case was adjourned indefinitely after the Attorney General for Pakistan (AGP) Mansoor Usman Awan assured the then CJP that the military trials would not proceed without informing the apex court.

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Pakistan

Sea conditions ‘very high’ as Cyclone Tej moves towards northwestward

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An Extremely Severe Cyclonic Storm (ESCS) named “Tej”, which has been brewing in the southwest Arabian Sea for the past few days, has continued to move northwestward toward the Arabian Peninsula’s coast.

According to the Pakistan Meteorological Department (PMD), over the past 12 hours, Cyclone Tej has been moving in a northwestward direction and is now “centred around latitude 14.4 N & longitude 53.2 °E”.

The update, which was issued today (Monday) at 10:00am (PST), also revealed that the brewing cyclone is situated “about 300km southwest of Salalah (Oman), 220km southeast of Al Ghaydah (Yemen) and 1520km southwest of Gwadar (Pakistan)”.

Additionally, the cyclone’s maximum sustained surface winds are between 150-160km/h, with gusts reaching 180km/h.

Moreover, sea conditions are currently very high, with maximum wave heights of 35ft around the system centre, according to the Met Office.

The system is expected to continue moving in a northwest direction and is likely to cross the Yemen coast, near Al Ghaydah by midnight as a very severe cyclonic storm (VSCS) with winds packing speeds of 120-130km/h and gusts reaching 150km/h.

However, it is important to note that there will be no impact on any of Pakistan’s coastal areas from this system.

According to PMD’s Daily Forecast, the weather is expected to remain dry for the next few days in most districts of Sindh, one of the coastal provinces of Pakistan.

Meanwhile, strong winds and thundershowers are likely to occur in and around some parts of Balochistan today, but dry weather is expected for the next few days.

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Pakistan

PCB ‘dismisses’ objections over players support for Palestinians

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LAHORE: Pakistan’s cricket team, which is currently busy participating in the ICC Men’s T20 Cricket World Cup, has shown their firm support and shared their prayers for all Palestinians suffering at the hands of Israel.

However, there have been many questions raised by Indian fans and cricket experts on the players’ constant support for Palestine asking ICC — the governing body of the game — whether such moves were allowed in the tournament.

According to sources, the Pakistan Cricket Board (PCB) rejected the objections over players’ conduct saying: “The team’s expression of solidarity was a personal decision.”

Pakistan’s national team on Wednesday, posted a picture of the Palestinian flag on their individual X, formerly known as Twitter, accounts to show that they stand in solidarity with Palestine and that they are praying for the people suffering there including children.

Prior to this Pakistan’s wicket-keeper batsman, Mohammad Rizwan, dedicated the team’s victory over Sri Lanka to his “brothers and sisters in Gaza”.

Meanwhile, Indian fans and cricket experts used the team’s support for Palestine to create controversies, claiming that the national team had violated ICC rules.

Sources from PCB added that the team is “allowed to express whatever they wanted to,” and that the players “did not violate any code of conduct by the ICC or PCB”.

The Health Ministry in Gaza reports that at least 3,061 Palestinians have died and over 13,750 more have been injured as a result of Israel’s shelling.

Pakistan has categorically condemned the Israeli atrocities and called for an immediate cessation of the bombardment, which has not even spared hospitals or schools, in solidarity with its Palestinian brothers and sisters.

Even Pakistani cricket legends who are not participating in the team anymore showed their support for Palestine.

Moreover, Pakistan is set to face Australia tomorrow (Friday) in M Chinnaswamy Stadium, Bengaluru after a few days of rest.

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