Car auction falls short of expectation

Lower-than-expected sales in an auction of government vehicles have dealt another early setback to Prime Minister Imran Khan’s populist vow to raise quick revenues through cost-cutting. The auction on Monday raised about Rs200 million ($1.6 million), an official Mohammad Asif told Geo TV.

That is just one-tenth of the amount he had predicted, and only 61 of just over 100 vehicles were sold.

Nearly three-quarters of the 101 vehicles on offer on Monday were more than 10 years old. (Reuters)