Rs 299.54 crore revenue generated from auction of 89 liquor vends in Chandigarh

| | Chandigarh
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Rs 299.54 crore revenue generated from auction of 89 liquor vends in Chandigarh

Tuesday, 30 June 2020 | PNS | Chandigarh

The UT Excise and Taxation has earned a total revenue of Rs 299.54 from the auction of 89 liquor vends in the city.

In the second round of e-tendering of liquor vends held on Monday, the Excise and Taxation Department received a total of 23 bids against 11 liquor vends.

“After opening of e-financial bids, 11 liquor vends were sold out and the Department received a revenue of 34.22 crores aganst Rs 27.82 crores reserve price with an increase of 23 per cent,” said an official of UT Excise and Taxation Department.

He said, “In totality, the Department got overwhelming response by collecting a total revenue of Rs 299.54 crores from 89 liquor vends in the shape of licenses fee against a reserve price ofRs  244.16 crores, registering an increase of around 22.68 percent over the reserve prices and also, received Rs 6.30 crore in shape of participation fee.”

On June 23, the Department had earned a revenue of Rs 265.32 crore from the auction of 78 liquor vends out of a total of 94. This time, five liquor vends did not receive any bids.

In the first round of auction, the highest bid ofRs  7.56 crores was received for a liquor vend at Sector 9 internal market against a reserve price of Rs 4.12 crore. The bid was won by Vault Liquor Private Limited.

The second highest bid of Rs 7.05 crores was received for a liquor vend in Dhanas.

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