New Excise Policy comes into effect in J&K, 30% bidders yet to deposit first installment

Jammu: Finally the much discussed new Jammu and Kashmir Excise Policy have come into force from Saturday but more than 30 percent of the top bidders have yet to deposit the first installment of bid to the government.
Reliable sources in the Excise Department said that as the new policy has come into effect from May 1 in Jammu and Kashmir and the government has also allocated licences by e-auctioning them to liquor operators but many bidders have not yet deposited the money.
"An e-auction was conducted by the department for the licences of a total of 280 shops and the bidders were instructed to deposit the first installment of the amount within a week," official sources said.
They added that although how many people have deposited the installment of money and how many shops are going to open, will be known in days but about 30 percent bidders have not deposited the first installment of total money after e-auction even despite getting the highest bid and the license.
"At present the shops are already shut due to the lockdown, but once the situation settles, the new vends will open with fresh rate list of different brands of liquor to be issued by the department," sources added.
They said that all liquor shops in Jammu and Kashmir remained closed till May 1, adding, "though licences were issued to these shopkeepers will be valid till 2023, the Excise Department has cancelled all old licences by introducing new guidelines under the new policy."
Sources said that most of the old stock has been sold but the remaining, which is still dumped in shops, cannot be sold unless fresh rate list is out.
"Out of the total bidders, 20-30 have been allotted the licences by bidding," they said adding that in view of COVID pandemic, the government may extend the priod of depositing bid money.
Reliable sources however, said that the bidders are looking for space to open a shop, adding, "the Jammu and Kashmir Excise Department, however, claimed that the e-auction process was to be completely transparent and only the Domicile holders would be allotted a license but some of the Punjab based companies have been able to get the maximum licences through e-auction and many licences were obtained in the name of locals."
Updated On 5/2/2021 11:19:12 AM