CM Revanth Reddy: Transparent policy for supply of new liquor brands, no compromise on rates- CM Revanth Reddy

CM Revanth Reddy: CM Revanth Reddy has directed officials to follow a transparent process to select the companies coming forward to supply liquor in the state. Companies which are already supplying to TGBCL said they should follow the easy trade policy for supplying new brands. He warned of being strict in granting permission to new companies. The CM ordered to issue a notification and give a fixed time limit of at least one month to accept applications from new companies. He said that those companies should apply with their brand names, the quality standards and supply capacity of those companies should be examined and the selection process should be done in a transparent manner. CM Revanth Reddy reviewed with Excise Department officials on Saturday.

Deputy CM Bhatti Vikramarka, Minister Jupalli Krishna Rao, CS attended this meeting along with the CM. Recently, officials drew the Chief Minister’s attention to the fact that United Beverages Company has been forced to increase the prices of beer by 33.1 percent. Not one to bow down to pressure from companies, the CM has ordered officials to check beer prices in neighboring AP, Maharashtra and other states. He said that the decision on price increase will have to be taken on the basis of the report of the pricing committee headed by a retired judge of the High Court. He said that he has been paying the bills to the Excise Department from time to time since last year. CM Revanth Reddy ordered the Finance Department officials to gradually repay the dues of the previous government.

KF beer supply suspended in Telangana

United Breweries Limited has announced suspension of supplies of Kingfisher and Heineken beers in Telangana. It was learned that this decision was taken due to non-payment of old dues. As per Regulation 30 of SEBI Listing Regulations… the Company has decided to stop supplying beer to Telangana Beverages Corporation Limited (TGBCL) with immediate effect.

TGBCL has said that its company has not revised the basic price of beer since 2019-20. Telangana has suffered huge losses due to this. Apart from this, the company said that the dues of beer supplied recently on TGBCL are quite high. For these reasons they have announced that they are stopping the supply of their beer in Telangana.

It is learned that this decision has been taken in view of the losses incurred by his company due to past dues and price hike. Dues from Telangana for the last two quarters amount to Rs. Rs 900 crore, UBL said. Analysts estimate Telangana’s dues to exceed Rs 1,000 crore with the festive season and another quarter of sales.