Acting Finance Minister says no reductions in liquor prices

By Saman Indrajith

Acting Finance Minister Ranjith Siyambalapitiya told Parliament on Tuesday that the government had no intention to bring down liquor prices in the near future.

Participating in the second reading debate on the Betting and Gaming Levy (Amendment) Bill, Minister Siyambalapitiya said it was being rumoured that the government was considering a reduction in liquor prices. “There are no such plans. We are not in a position to consider such price reductions. Following tax revisions, the excise revenue has come down by 7.4 percent. This has resulted in a drop in the projected excise revenue by 30 percent. The highest production of liquor so far this year was seen in March, but that amount, too, indicates a drop of 40 percent when compared with the figures of March last year,” the Minister said.

He went on to say that following the drop in licensed liquor sales, there was a sudden hike in illicit liquor consumption, depriving the government of tax revenue and causing health issues.

“However, the government is not ready to bring down the liquor prices,” he said.