Punjab Finance Minister Harpal Singh Cheema announced on Saturday that the state cabinet, chaired by Chief Minister Bhagwant Mann, has approved the excise policy for 2024-25.
The new policy aims to generate revenue of Rs 10,145.95 crore from liquor sales. Under the policy, prices of imported foreign liquor (IFL) will decrease, while rates for country liquor will remain unchanged.
This marks the third excise policy under the Aam Aadmi Party (AAP) government, with Cheema highlighting that revenue from liquor sales during the previous Congress regime was Rs 6,151 crore.
Notable changes in the new policy include the allotment of liquor vends through a draw of lots, with an increase in the number of groups from 172 to 232.
Cheema outlined key reforms, including the reduction of group sizes for licensees and the introduction of an adjustable license fee.
The quota for country liquor (Punjab Medium Liquor or PML) for the financial year 2024-25 has been increased by 3 percent, with no price increase anticipated.
Additionally, adjustments have been made to license fees and security amounts to benefit various stakeholders. To address counterfeit liquor concerns, a new mechanism mandates the breaking of used liquor bottles at marriage palaces under excise inspectors' supervision.
Bar licensees are now required to provide alcometers for voluntary alcohol-level assessment and display a signage promoting responsible drinking with the message "Be Safe - Don't Drink and Drive", .
In another decision, the cabinet approved allowing colonizers to pay pending external development charges (EDC) in three installments over a year and a half, with interest charged at 10 percent per annum.
The one-time settlement scheme 2023 for tax arrears has been extended from March 31 to June 30. These measures reflect efforts to streamline the liquor trade and address various economic concerns within Punjab.
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