Addressing the media, he said if the prices of bakery products increase, people will not buy, and that will lead to the collapse of the industry.

"Factories, including bakeries operating in the country, cannot bear the current electricity tariff increase as 100 percent electricity is needed for bakery productions. It is hard to find a bakery that runs without using electricity," Jayawardana said.

"Electricity charges have been increased by 400 percent. We have to pay 36 percent income taxes and 15 percent VAT. With all these increases, we will not be able to continue this industry," he said.

"We need to increase the prices of bakery products, but we are still waiting for the government's response. However, we maintain the prices at the current level as much as we can," Jayawardana said.

Therefore, there should be an electric tariff revision for factories, as well as for the bakery industry, to reconsider the heavy taxes imposed on us and to grant relief, the chairman added.

(Chaturanga Pradeep Samarawickrama)