Jun 22, 2022

Demand for alcohol drops by 30%

Demand for alcohol in the country has fallen by about 30 percent, according to the Committee on Public Finance.

It is reported that the main reason for this is the recent increase in the price of liquor in the country and the decrease in people’s income. 

This was revealed during the discussion on the plans prepared to increase government revenue and their current status.

Accordingly, officials representing the Ministry of Finance, Economic Stabilization and National Policies, the Inland Revenue Department, the Excise Department of Sri Lanka and the Sri Lanka Customs joined the discussion.

The Excise Department officials had pointed out at this meeting that there were several obstacles in reaching their targeted revenue. 

According to the officials, this is due to problems in limiting the quantity of ethanol available to produce alcohol and limiting and distributing diesel and furnace oil.