Liquor stock worth Rs.10 cr to expire; HRAWI seeks permission to liquidate the same

Liquor stock worth Rs.10 cr to expire; HRAWI seeks permission to liquidate the same

The Hotel and Restaurant Association of Western India (HRAWI) has written to the Maharashtra Government pleading hotels and restaurants in the State to be given permission to liquidate perishable liquor stocks lying with them. Estimated to be in excess of Rs.10 Crore with all License holders, the goods including liquors and beers are likely to perish due to the expiry of the products. The Association has stated that allowing liquidation of the unsold stock will minimize the losses and introduce working capital by encashment of the existing liquor stock.

“ Now with the Government relaxing the ban on the sale of liquor we are hoping to salvage from the unsold stock which in turn can induce some liquidity into our businesses. This will introduce working capital for many establishments that are bleeding in outgoing expenses and are sitting on dormant stocks,” says  Gurbaxish Singh Kohli, President, HRAWI.

In the letter to the Government, the HRAWI has requested that either it directs manufacturers to replace liquor stocks that are on the verge of expiry or already expired or allow the sale of perishable liquor stocks from the outlets of FL3 License Holders, as and when the same is advisable, under the present circumstances.

“Under the present situation of chaos at the liquor shops across the country, we believe allowing all FL3 licensees to sell liquor would help the cause of social distancing, maintenance of law and order and reducing the risk of crowding at public places. Our suggestion is only complementary to the Government’s decision of allowing the sale of liquor across the State. Being a highly capital and labour-intensive industry, we need something to work with, something that allows us to continue to remain in business. We are hopeful that the Government takes into account the Hospitality industry’s catastrophic situation during the phase of the lockdown and allows us this opportunity to survive,” concludes Kohli.

 

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