Imran admits to diverting SKMT funds

PTI Chairman and former premier Imran Khan on Saturday admitted investing an amount of $3 million from the Shaukat Khanum Memorial Trust (SKMT) funds in a private housing project, saying later the money was returned.

The revelation came during a hearing of Rs10 billion defamation case against Defence Minister Khawaja Asif at Islamabad District and Sessions Court.

The PTI chief appeared before the court via video link from his Lahore's Zaman Park residence.

The case was heard by Additional Sessions Judge Umeed Ali Baloch.

Asif and Imran's counsels were present during the hearing.

Asif's lawyer Barrister Haider Rasul cross-examined Imran for one hour and fifteen minutes and asked questions about investment in the private housing project with SKMT funds.

The PTI chairman admitted investing the funds in the project, saying the SKMT board had told him about the investment. However, he said he did not remember the name of the project.

The lawyer asked whether he was informed about the investment by the board in writing to which Imran said that he could not recall whether it was conveyed verbally or in writing.

The former premier said that the $3 million were deposited back by the board member and that the matter was closed.

Asif’s counsel maintained that the matter had not ended but would start “from the same point”.

"When the amount was invested, the dollar rate was [equivalent to] Rs60 and when the amount was returned, the rate had reached Rs120," he contended.

The PTI chief said that the matter could be resolved “quickly” if the lawyer came “straight to the point rather than asking ‘pointless questions’”.

The lawyer said he could complete the cross-examination in “just two hours” during the next hearing.

Later, the court adjourned the hearing of the case till January 28.