(COLOMBO) – The alcohol consumption and production has dropped by 19 percent in Sri Lanka during 2023 when compared with figures of the previous year, the country’s Parliament was told on Friday.
State Minister for Finance Dr. Ranjith Siyambalapitiya told Parliament that illegal alcohol is also prevalent in many areas and steps should be taken to curb this practice.
The wide spread illegal alcohol trade has started to flourish over the past two years following a near 150 percent increase in the prices of legal alcohol in order for the Government to raise more revenue to the country’s cash-strapped coffers.
The Government collects 75 percent in tax revenue from a 750 ml bottle of finished alcohol.
Excise revenue contributes to more than 50 percent of funds needed to pay the salaries in the public sector, according to officials.
