New rules bar retention of gifts worth over $300.

ISLAMABAD -- The federal cabinet on Tuesday introduced a new policy for Toshakhana gifts, under which public office-holders can only retain presents worth less than $300.

The policy titled 'Toshakhana Procedure for the Acceptance and Disposal of Gifts, 2023', which was framed on March 8, was made public on Tuesday after a cabinet meeting approved it.

As per the policy, the government functionaries 'except those in BPS-1 to BPS-4' were barred from receiving cash awards as gifts. In case they could not decline the cash, the amount shall be immediately deposited to the treasury and a copy of the treasury challan shall be provided to the Toshakhana in-charge, it said.

The new policy also prohibited government functionaries from receiving gifts for their spouses or family members. 'Such gifts received by...