Banquet and catering charges increased by 15% amid economic pressures

By T.K.G Kapila 

Colombo, April 8 (Daily Mirror) - The All Island Banquet Owners and Caterers Association (AIBOCA) has announced that it will increase the prices of food and related services by 15% from April 8, citing rising costs in the face of the ongoing global economic situation.

Addressing a press conference held at a hotel in Seeduwa, Ambalamulla this morning (8), Association President Akila Jayaratne said that escalating prices of food, raw materials, gas, and diesel have severely impacted the sector.

He said that approximately one million people are employed directly and indirectly within the industry, stressing that the price revision is necessary to safeguard jobs amid current economic challenges.

Jayaratne further highlighted several difficulties faced by members of the association, including issues in obtaining diesel, the recent 20.50% increase in Value Added Tax (VAT), sudden and unannounced power cuts in various parts of the country, and the temporary suspension of the parade law until the end of the year.

He said these factors have collectively placed significant strain on banquet halls and catering businesses across the country, making the price increase unavoidable.