The two were sentenced to 14 years in jail each by an accountability court on January 31 for alleged corruption in state gifts they got from the state depository, days before the general elections.
They challenged the conviction in the Islamabad High Court (IHC) where a two-member bench headed by IHC Chief Justice Aamer Farooq heard the case.
On Monday, the IHC gave temporary relief to the couple in the case by suspending their sentences and granting them bail in the case.
However, the court announced that their appeals against the conviction would be heard after the Eid festival next month.
But, Khan may not be released as he is convicted in other cases and cannot be released until absolved from charges in other cases. Similarly, Bushra is also convicted in another case and may not be released after her sentence has been suspended.
In the Toshakhana corruption case, the 71-year-old former cricketer-turned-politician is accused of retaining expensive state gifts they received during his tenure as Pakistan's premier.
Under the rules governing Toshakhana -- a Persian word meaning treasure house -- government officials can keep gifts by paying a price for them but first the gift should be deposited. Khan and his wife either failed to deposit the gift or got it for a low price by allegedly using their authority.
The conviction of Khan in the Toshakhana case came a day after he was awarded 10 years in jail in the cipher case on January 30.
Earlier, he was also convicted in a different Toshakhana case in August 2023, leading to his arrest.
The latest conviction was based on the charges of misusing his authority as prime minister to retain gifts he or his spouse got during his tenure. It was filed by the National Accountability Bureau.
The previous Toshakhana graft case was filed by the Election Commission of Pakistan in the charges of hiring the sale of state gifts.
So far, Khan has been convicted in four different cases since losing power in April 2022. He has got bail in both Toshakhana cases.