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From Rs 10cr, J&K proceeds from liquor license auction jump to Rs 140cr | India News

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SRINAGAR: Jammu and Kashmir has seen a huge increase in its proceeds from the auction of 228 location-specific permits for liquor sales, from around 10 million rupees in previous years to 140 million rupees this time, courtesy of its new policy. of alcoholic beverages.
“The license fee that bidders must pay is at least 15 times what the J&K government would have previously obtained from hundreds of suppliers,” said an official with the excise department. “Around 800 bidders participated in the electronic auction process,” he added.
Unlike in previous years, a bidder, whose address should be J&K, could bid for only one location, depending on the policy, the official said.
Incidentally, only four bidders submitted their bids for four locations in the Kashmir valley, “due to religious and social barriers,” he added.
Excise officials said the invitation to the auction process received a “great response,” indicating high demand in the local market as tourism continues to be hit by the Covid pandemic.
“Two bidders listed more than 3 million rupees and four above 2 million rupees, while 34 participants have pledged to shell out more than one million rupees in license fees,” they said. More than 20 existing licensees maintained their sales by being the highest bidders for the locations.
Notably, J&K has previously been earning Rs 1.3 billion a year from liquor license auctions. The wine business was greatly affected in the Kashmir Valley with the advent of militancy in 1990 when various terrorist groups including the Jammu Kashmir Liberation Front (JKLF) and the outlawing of Hizbul Mujahideen (HM) banned the sale and supply of liquor for religious reasons.

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