The UT Excise and Taxation Department on Tuesday auctioned 119 liquor vends, earning a revenue of Rs 92.32 crores.
A total of 54 liquor vends remained unsold during the auction.
The auction was held for 173 liquor vends ((99 ordinary, 24 modern liquor shop and 50 country liquor shops) on Tuesday by UT Excise and Taxation Department. 119 liquor vends including 76 ordinary, 15 modern liquor shop and 28 country liquor shops were auctioned, generating a revenue of Rs 92.32 crore as against the minimum reserve price of Rs 79.26 crore for these liquor vends.
The Department officials called it an enhancement in revenue collection by 16.48 percent as compared to last year’s revenue of Rs 79.26 crore by auctioning the same
liquor vends.
A liquor vend in Sector 42 market went for highest bidding price of Rs 2.61 crore while a liquor vend in Sector 20 went for lowest bidding price of Rs 41 lakh. As many as 23 liquor vends had attracted the bidding price of more than Rs 1 crore.
The tenders invited by the UT Excise and Taxation Department were opened in the presence of the interested bidders at Government Medical College and Hospital in Sector 32 on Friday. The process commenced at 10 am and continued for about five hours. UT Assistant Excise and Taxation Commissioner, RC Bhalla said that 119 liquor vends have been sold out today out of 173 vends.
He said, “The total revenue fetched was Rs 92.32 crore against the total minimum reserve price of Rs 79.26 crore of these liquor vends.”
The UT Excise and Taxation Department would soon organise second round of auction for the remaining 54 liquor vends.
The new UT excise policy announced on May 12 will remain in force for a period of 10 months commencing from June 1.
Under the new policy, the UT Administration has decreased the number of retail sale vends from 217 to 173 vends, which will be granted license for a period of 10 months.
In the new policy, the Administration has increased the earnest money to be paid along with application by the traders. For liquor vends above Rs 1 crore to Rs 1.5 crore, the earnest money has been increased from Rs 13 lakh to Rs 30 lakh. For shops above Rs 1.5 crore to Rs 2.5 crore, the earnest money has been increased from Rs 25 lakh to Rs 40 lakh.
Also, to curb the monopolisation of trade by certain liquor contractors in a particular area, the waiting list of tenderers have been prepared this time.
And, in case a successful bidder surrenders his vend after offering higher bid amount, his earnest money will be forfeited and offer will be given to the second highest bidder.
During fiscal 2013-14, not a single bid was received for as many as 70 liquor vends while about 17 vendors had
surrendered their liquor vends after they failed to pay 30 per cent of the bid amount within the stipulated period of time.