Hyderabad, April 14 -- The Indian liquor industry has appealed to the Telangana government to clear outstanding dues worth Rs 3,100 crore, citing severe liquidity and working capital challenges.
The Confederation of Indian Alcoholic Beverage Companies (CIABC) and other industry bodies have written to Chief Minister Revanth Reddy and Excise Minister J Krishna Rao, stressing the urgent need for payment clearance and a price hike to offset rising production costs, a statement said on Monday.
Since late 2023, payments from the Telangana State Beverages Corporation Ltd (TSBCL) have been delayed beyond the 45-day credit period outlined in the Rate Contract Agreement (RCA), pushing the cumulative interest burden to over Rs 325 crore. Despite thi...