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The Islamabad High Court (IHC) on Wednesday granted bail to former Prime Minister Imran Khan in a recent Toshakhana case. Justice Miangul Hassan Aurangzeb presided over the hearing and approved the bail subject to the submission of two bonds worth Rs. 1 million each. The court instructed Imran Khan to appear before the trial court, warning that failure to cooperate could result in the revocation of bail.

Key Developments in the Toshakhana Case

  1. Accusations:
    • The Federal Investigation Agency (FIA) has accused Imran Khan and his wife, Bushra Bibi, of retaining an expensive Bulgari jewelry set — including a necklace, earrings, bracelets, and rings — gifted by a foreign leader.
    • The couple allegedly paid a fraction of the actual value for the jewelry, causing a significant loss to the national exchequer.
  2. Context of the Case:
    • During his tenure as Prime Minister, Imran Khan reportedly received 108 gifts from foreign dignitaries, out of which 58 gifts were retained against an undervalued payment of over Rs. 142 million.
    • The gifts include luxury items such as watches, jewelry sets, and other valuable items.
  3. Legal Proceedings:
    • The case was transferred to an FIA special court in September after the Supreme Court upheld amendments to NAB laws.
    • A lower court had previously rejected bail petitions for both Imran Khan and Bushra Bibi in October.
  4. Arrests and Bail:
    • Imran Khan and Bushra Bibi were arrested in the Toshakhana case on July 13, 2023, immediately after their acquittal in another case.
    • While Bushra Bibi secured bail in October and was released, Imran Khan remained incarcerated until now.

Court Conditions

  • Bail Requirements: Two bonds of Rs. 1 million each must be submitted.
  • Cooperation Clause: Imran Khan must fully cooperate with the trial court, failing which the IHC may revoke his bail.

Background on Toshakhana Controversy

The Toshakhana, or “State Gift Repository,” is a department that stores gifts received by public officials from foreign dignitaries. Officials are allowed to retain gifts by paying a percentage of their assessed value. Allegations have surfaced against multiple public figures, including Imran Khan, for undervaluing and misusing this privilege during his premiership.


Implications and Next Steps

Imran Khan’s release is likely to reinvigorate his political activities, although the Toshakhana case continues to pose legal challenges. With over 50 gifts retained under scrutiny, this case could have far-reaching consequences depending on the outcome of the trial.

ALI

ALI

Experienced Senior Research Analyst

SIKANDER RAZA

SIKANDER RAZA

Sikander Raza, a Senior Technical Analyst

HAMZA SALEEM

HAMZA SALEEM

Hamza Saleem, a Senior Business Analyst

IRSA

IRSA

Irsa Sajjad, as a Research Analyst for Equities

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