Liquor To Get Cheaper By 35-60% In Punjab As New Excise Policy Rolls Out
After the announcement of the New Excise Policy, the liquor prices in Punjab will get slashed by 35-40%. Read further to know about the policy.
On Thursday, June 09, the government of Punjab rolled out a New Excise Policy for 2022-23. As per the new p[olicy, the prices of liquor are likely to be slashed by 35-60 percent. With an effect from July 1, liquor will be sold at slashed prices. After the implementation of the new policy, Punjab is expecting to collect a total revenue of Rs. 9,647.85 crore in the financial year 2022-23, which was Rs 6,158 crore in the financial year 2021-22.
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Liquor to be sold at slashed prices
The liquor will be sold in Punjab at 10-15% discounted prices as compared to Haryana. The move has been taken with the purpose of stopping the smuggling of liquor in Punjab from Haryana and Chandigarh. Beer will be costing between Rs 120 - Rs 130 per bottle which is currently sold at Rs 180 to Rs 200 per bottle in Punjab. The rates for IMFL also slash to Rs 400 per bottle, currently costing Rs 700 per bottle in Punjab.
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Statement by the Excise Commissioner
Excise Commissioner, Varun Roojam said, "We have made several structural changes, but the policy has many checks and balances to ensure that smuggling into and from the state is kept in check. Though the quota is open for both IMFL and beer, the Excise Commissioner will have overriding powers to prohibit the excess lifting of liquor quota and demand will be continuously assessed", quoted as saying by The Tribune.
The New Excise Policy
- In the New Excise Policy, the role of distillers, liquor distributors, and retailers have been de-linked as they all were involved in the retail business of liquor.
- For country-made liquors, one distributor will be appointed by each distiller. The manufacturers will also have one distributor who will supply the quota to the retailers.
- Ban on the opening of new distilleries has also been lifted by the Punjab government.
- The Excise duty on IMFL, beer, and Imported Foreign Liquor (IFL) will be charged at only 1 percent.
