Liquor manufacturers reject request by Excise Chief!
The liquor manufacturing companies have rejected a request made by Excise Commissioner General M.G. Gunasiri to increase the production of alcohol to achieve excise revenue targets.
The request has been made during a discussion held between the officials of 23 liquor manufacturing companies and the Commissioner General of Excise.
The excise revenue target for 2022 is Rs.185 billion and a revenue of Rs. 90 billion has been recorded as of June this year.
However, the liquor manufacturers have pointed out that it is difficult to achieve revenue targets due to the decline in alcohol sales since July.
The manufacturers have said that the price of alcohol has gone up due to the increase in VAT, imposition of social security tax, steep rise in ethanol and fuel prices.
However, the Finance Ministry has informed the Excise Department that the expected revenue targets should be reached.
The liquor manufacturers have warned that the rise in alcohol prices could increase the demand for illegal alcohol.
According to a global report released by the World Health Organization regarding alcohol consumption in Sri Lanka, 37% of consumers consume illegal alcohol.
Therefore, the manufacturers have requested to regulate illegal alcohol.
Meanwhile, it is also reported that with the increase in the price of a bottle of arrack by Rs.150 from yesterday, the alcohol sale will further decrease.