(COLOMBO) – The Excise authorities in Sri Lanka are finding it hard pressed to meet a tax revenue target sought by the Government since liquor consumption has drastically reduced owing to the ever increasing steep rise in prices, a senior top official has warned.
“Meeting a record annual tax revenue target of Rs.232 billion for the year 2024 is questionable since liquor production when compared with the year 2022 has dropped by 6.5million litres during the whole of last year”, Excise Commissioner General M J Gunasiri said.
He said that the sales of 29 million bottles (750ml) of liquor, 54 million half bottles (375ml) and the most popular quarter bottles (180ml) had been reduced by 115 million during last year owing to the spike in prices.
“However, fresh figures have been given by the Ministry of Finance for this year to achieve a target of Rs.232 billion, which is going to be questionable as the consumption is gradually reducing,” Gunasiri warned.
The Excise Chief said that compared to January 2023, the total production of finished liquor products had reduced by 657, 000 litres in January this year.
Meanwhile on the other hand the Main Opposition Leader Sajith Premadasa informed the Parliament on Tuesday that the cash-strapped Government is planning to issue 200 fresh licenses to operate wine stores and 15 had already been approved.
Premadasa also revealed that six liquor manufacturing licenses have already been issued targeting the elections.
Premadasa told Parliament that the Excise Commissioner General M. J. Gunasiri had become a fund raiser for the government’s forthcoming election campaign.
