Liquor worth ₹1.5k cr needs new price tag

Hyderabad: The recent announcement of slash in liquor prices brought cheer for tipplers but left distilleries in losses. The excise department had over 18 lakh cases of liquor with old stickers — worth approximately ₹1,500 crore — that needed to be labelled with new rates. As a result, even after more than a week, liquor stores are unable to sell the bottles at the reduced rates. Excise officials said the price — ranging from ₹10 to ₹80 per bottle — was cut to stop flow of liquor from other states into Telangana. “After the decision to cut down the prices, stickering of bottles took some time,” said sources in the industry. Traders lift the stocks from 19 liquor depots in the state. A section of the liquor industry argues that the government needs to reduce the prices of cheap liquor, which was doubled in the last three years.
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