Through the first five rounds, the Chandigarh excise department could allot only 70 of the total 95 vends in the city; if the remaining 25 vends go unsold, UT is set to suffer a revenue setback of at least ₹121.19 crore
Struggling to find contractors for 25 unsold liquor vends, the UT excise and taxation department held the sixth auction on Tuesday after slashing the reserve price by 20%, but could not sell even a single vend.
Through the first five rounds, the department could allot only 70 of the total 95 vends in the city. If they go unsold, UT is set to suffer a revenue setback of at least ₹121.19 crore, their total reserve price.
Last year, the department had held seven auctions, yet three of the 96 vends had gone unsold.
A senior UT officer said, “We did not expect such a poor response. After reducing the reserve price by 20%, we were expecting to allot at least seven to eight liquor vends on Tuesday. We will be holding a meeting to discuss the further action plan.”
Darshan Singh Kler, the owner of Kler Wines, who has bought six liquor vends, said unless the UT administration amended its policy to offer more perks, it will not find investors.