Sri Lanka, July 29 -- The renewal of beedi licenses of beedi manufacturers has dropped remarkably after the increase in tobacco tax on beedi sticks, which has resulted in a revenue loss, a Parliamentary Committee has revealed.

This was revealed at the Committee on Public Finance Chaired by MP Harsha de Silva held at the Parliamentary complex recently.

The Commissioner General of the Excise Department reported that while 1,140 licenses were issued to beedi manufacturers last year, only 840 have renewed their licenses this year following the tax increase.

It was also revealed that revenue collection has also fallen short of expectations, with only Rs. 1,055 million collected last year against a target of Rs. 2 billion, and just Rs. 469 ...