The Punjab Cabinet, led by Chief Minister Bhagwant Mann, agreed on Thursday to extend the excise policy for three months, from April 1 to June 30 of the next fiscal year.
This decision was made during the Cabinet meeting this evening, which was presided over by Chief Minister Bhagwant Mann here at the CMO.
According to a spokesperson for the Chief Minister’s Office, the policy has been extended for three months to existing licensees who will provide 1.75 percent more revenue than the Minimum Guaranteed Revenue (MGR) for the Fiscal Year 2021-22 for their respective group/zone in order to maintain stability in the liquor trade. However, the number of groups/zones and liquor vends will remain constant.
Furthermore, the spokesperson stated that the MGR of the State’s groups/zones would be Rs 1,440.96 crore for a three-month period. However, the revenue target for this short-term Excise Policy remains at Rs 1,910 crore for the next three months.
To generate more revenue, the Minimum Guaranteed Quota (MGQ) of PML, IMFL, Beer, and IFL of each group/zone has been increased by 10% over the minimum guaranteed quota of the corresponding first quarter of the previous Financial Year. Furthermore, the amount of the additional fixed licence fee has been increased to allow retail licensees to lift liquor as needed, according to the spokesperson.