Liquor auction makes Chandigarh richer by Rs 266 crore

In high spirits: Chandigarh earns Rs 266 crore from auction of 78 liquor vends, no takers for 15, last year UT earned Rs 202 crore.

punjab Updated: Mar 29, 2018 14:24 IST
HT Correspondent
HT Correspondent
Hindustan Times, Chandigarh
Liquor auction,Chandigarh,liquor vend
Excise officials arranging financial bids for liquor vends at Chandigarh College of Engineering and Technology in Sector 26 on Wednesday. (Sikander Singh/HT)

The liquor vend in Raipur Khurd village fetched the highest bid of Rs 6.66 crore, against the reserve price of Rs 2.5 crore during the auctions held by the UT administration at the Chandigarh College of Engineering and Technology, Sector 26, here on Wednesday.

Raipur Khurd shares border with Zirakpur and Panchkula and here the liquor availble will be cheaper by Rs 30 to Rs 40 fetched the highest bid due to its border with Zirakpur and Panchkula, where the liquor will be cheaper by Rs 30 to Rs 40 per bottle.

The vends will be selling Indian Made Foreign Liquor (IMFL). In total, 78 liquor vends were auctioned. There were no takers for 15 vends. The vends will start selling from April 1.

The UT excise and taxation department had received 166 bids for 79 vends. The department earned Rs 266 crore from the auction process against the reserve price of Rs 211 crore, an increase of 26%.

On Wednesday, liquor vend of Sector-7 internal market could not be auctioned as its reserve price quoted was low. As there were no takers for 15 vends, tenders for them will be floated again.

The high fetchers

The liquor vend at Manimajra on Kalka road fetched the second highest bid of Rs 5.67 crore, against the reserve price of Rs 1.75 crore, while the third highest bid went to Sector 35 C liquor vend at Rs 5.61 crore, against the reserve price of Rs 2.2 crore. Liquor vend at Hallomajra went for Rs 5.3 crore against the reserve price of Rs 2.5 crore and liquor vend at Sector 40 market went for Rs 4.52 crore against the reserve price of Rs 3.5 crore.

Last year, the liquor vend in Sector 42 had fetched the highest bid amount of Rs 9.51 crore, against the reserve price of Rs 4.46 crore.

11 vends taken by one company

As many as 11 liquor vends were taken by Liquor World Ventures Private Limited, which is owned by Kamal Bajaj . In fact, the Raipur Khurd vend and other top two bids were made by this company.

Liquor to cost 15% more

However, bachhus lovers will have to shell out more to get their favourite brand with the UT administration hiking the price of both countrymade and Indian Made Foreign Liquor (IMFL) by 15%.

But under the new excise policy released for 2018-19 the rates of beer and wine are unchanged. In fact, the policy states that it wants to promote low alcoholic content beverages. Meanwhile, despite the hike, the prices are still lesser than that in the neighbouring Punjab and Haryana.

Also under the excise policy 2018-19, the quota of liquor bottles has been increased. For IMFL, the increase is from 74 lakh proof litre to 90 lakh proof litre and for country made liquor, the increase is from 8 lakh to 10 lakh.

22 more vends from last year

One year after closure, the UT excise and taxation department will be opening 22 liquor vends on the state and the national highways from April 1. These were closed due to the liquor ban imposed by the Supreme Court order on April 1 last year.

First Published: Mar 29, 2018 14:24 IST