The Government has decided to increase the price of locally manufactured liquor in view of the increase in Value Added Tax (VAT) which came into effect yesterday (31).
Excise Commissioner Kapila Kumarasinghe explained that the increase in VAT would increase the cost of production.
Accordingly, some companies have increased the price of a bottle of liquor by Rs. 520 and a can of beer by Rs. 30.
Kumarasinghe added that since this is a non-essential product, the relevant companies are free to decide the selling price without requiring the permission of a regulatory body.
By Tharaka Samman