Business
Compassion over capital: Janashakthi partners President’s Fund to transform child healthcare access
By Ifham Nizam
In a landmark move that signals a shift in corporate philanthropy in Sri Lanka, Janashakthi Group (JXG) has entered into a pioneering partnership with the President’s Fund to provide financial support for children requiring urgent medical care—irrespective of ethnicity, religion, region, or social standing.
Addressing journalists at the Hilton, Colombo, Managing Director/Group CEO Ramesh Schaffter said the initiative was not born out of obligation, but conviction.
“Nobody asked us, because nobody had to. From our very inception, Janashakthi has stepped up where we have seen a need,” Schaffter said.
He added: “Today, we are stepping up again—not alone, but in partnership with the highest charitable institution in the country, the President’s Fund.”
This collaboration marks the first time a corporate entity has formally aligned itself with the President’s Fund in such a comprehensive and structured manner. While individuals and organisations have contributed financially in the past,
Janashakthi’s approach goes further—committing to match funding for medical cases approved by the Fund, effectively doubling the resources available for life-saving treatments.
At the heart of the initiative lies a simple yet powerful principle: every Sri Lankan child deserves equal access to healthcare.
“Which child? Any child. Which province? Any province. Which race? Any race. Which religion? Any religion,” Schaffter emphasised. “They are all children of Sri Lanka—the next generation that must take their place in this nation.”
The mechanism is deliberately streamlined. The President’s Fund, with its established network of medical experts and evaluative processes, will continue to vet applications and determine eligibility. Once approved, Janashakthi will mirror the financial support extended.
Responding to Ths Island Financial Review, he added:
“We are not here to reinvent the wheel,” Schaffter noted. “If the President’s Fund supports a case—whether treatment is in Sri Lanka or overseas—we will match it. If they give one, we give one. If they give two, we give two.”
This alignment ensures efficiency, credibility, and speed—critical factors in medical emergencies where delays can cost lives.
Beyond the operational framework, the initiative reflects a broader rethinking of corporate responsibility. Moving beyond conventional labels such as Corporate Social Responsibility (CSR) or Environmental, Social and Governance (ESG), Janashakthi is reframing its philosophy in more human terms.
“We just want to call it compassion—profit with a compassionate face,” Schaffter said. “Every corporate body has a responsibility not just to make profits, but to give back meaningfully to society.”
Importantly, the Group has made it clear that the initiative will not be used as a platform for publicity.
“We are not doing this for advertising mileage,” he stressed. “You will not see us parading children or showcasing beneficiaries. The purpose of this press conference is awareness—not recognition.”
This ethos is consistent with Janashakthi’s past interventions. During the COVID-19 pandemic, the Group quietly supported 14 hospitals with over Rs. 40 million worth of critical equipment, including ventilators, oxygen systems, and even the refurbishment of entire wards—without public fanfare.
“If this effort can save even one child, it will be worth it,” Schaffter said.
Senior Additional Secretary to the President and Secretary to the President’s Fund, G.G.S.C. Roshan, welcomed the partnership, noting that it would significantly enhance the Fund’s capacity to respond to urgent medical needs, including cases requiring treatment overseas.
“The President’s Fund already supports such cases, sometimes even facilitating treatment in countries like India or Singapore when necessary,” he explained. “With Janashakthi coming alongside us, that support can now be strengthened.”
The initiative is funded through contributions from Janashakthi’s operating businesses, effectively channelling a portion of corporate profits directly into life-saving interventions.
Group Chief Marketing Officer of JXG, Ghamike De Silva, stressed that this was not a one-off gesture but part of a sustained commitment to social responsibility.
“This is a significant financial commitment drawn from our business operations,” he said. “It reflects our belief that success must be shared—especially with those who need it most.”
Respoding to The Island Financial Review JXG Founder & Chairman Emeritus C T A Schaffter issued a broader call to action for Sri Lanka’s corporate sector, urging others to follow suit.
“This is a journey of recovery and progress that cannot be achieved by the government alone,” he said. “Corporate citizens and individuals alike must carry part of the responsibility. There is much more that can—and must—be done.”
His remarks were also deeply personal. Reflecting on his own childhood marked by loss and hardship, Schaffter spoke of growing up dependent on the generosity of others.
An emotional Schaffter added:
“When you have lived without, when you have relied on charity, you understand what it means to need help,” he said. “That understanding shapes how you choose to give.”
As Sri Lanka navigates its path toward economic recovery, initiatives like this highlight a growing recognition that financial performance and social impact are not mutually exclusive—but mutually reinforcing.
By embedding compassion into its business model, Janashakthi is not merely funding healthcare—it is redefining the role of corporate Sri Lanka in nation-building.
And in doing so, it may well set a precedent for others to follow.
The Ceylon Motor Traders’ Association (CMTA), established in 1919 is the most senior automotive association in Sri Lanka affiliated with the Ceylon Chamber of Commerce, is calling for greater consistency, transparency and fairness in the policies governing the country’s automotive sector, stressing that a sustainable vehicle import framework must ensure a level playing field across the entire industry.
The Association’s concerns come at a time when the automotive sector continues to operate under significant fiscal and regulatory pressures, with recent policy measures, including the introduction of a 50% surcharge on vehicles, adding further complexity to an already challenging market. While the CMTA recognises the Government’s need to manage foreign exchange, generate revenue and regulate vehicle imports responsibly, it believes that such measures must be structured in a manner that does not disproportionately disadvantage legitimate businesses or distort competition between different segments of the market.
At the centre of the Association’s concerns is the continued application of a blanket 15% depreciation on the Cost, Insurance and Freight (CIF) value of used vehicle imports for duty calculation purposes. The CMTA maintains that this mechanism creates an unintended advantage for certain used vehicle imports, particularly when vehicles entering Sri Lanka as used units can be virtually identical to brand-new vehicles in terms of model, specification and, in most cases, mileage.
The Association estimates that the existing depreciation mechanism resulted in approximately Rs. 40 billion in lost to government revenue in 2025 alone. Without corrective action, a similar level of revenue leakage could occur in 2026, representing a significant loss at a time when government revenue remains critical to strengthening public finances and supporting national development.
The issue, the CMTA emphasises, is not about restricting consumer choice or opposing the used vehicle market rather, it is about ensuring that vehicles entering the country are assessed fairly and consistently, based on their actual value and circumstances. When two substantially identical vehicles can attract different levels of taxation simply because one has been registered overseas before being imported, the Association believes the resulting disparity warrants policy reconsideration.
The CMTA argues that the same principle of fairness should also apply when considering the impact of newer fiscal measures, including the recent 50% surcharge. Such a substantial additional cost can have implications across the automotive value chain, affecting vehicle prices, consumer affordability, business viability and the broader ecosystem supporting vehicle sales and after-sales services.
Sampath Bank PLC announced the appointment of Dilip de S Wijeyeratne as Deputy Chairman, effective 10th September 2026, further strengthening the Bank’s leadership as it advances its strategic priorities and continues to evolve as a purpose-led, technology-enabled financial institution.
Wijeyeratne brings extensive experience across banking, finance, risk management and compliance, investment banking and treasury, complemented by a strong understanding of corporate governance, strategic planning and financial markets. His breadth of experience and forward-looking perspective will support Sampath Bank’s focus on translating purpose and strategy into sustainable growth, while advancing data-driven decision-making and the intelligent application of artificial intelligence across the organisation.
Wijeyeratne’s association with Sampath Bank spans nearly eight years. He joined the Bank as a Non-Independent, Non-Executive Director in November 2018 and was appointed an Independent Director in August 2019. He subsequently served as Senior Independent Director from May 2022 and continued as an Independent, Non-Executive Director from June 2026. He currently serves as Chairman of the Board Audit Committee and contributes to the Bank’s Sustainability, Human Resources and Remuneration, Treasury, Strategic Planning, Nominations and Governance, and Related Party Transactions Review committees.
A senior finance and banking professional and principal consultant,Wijeyeratne provides advisory services to organisations across the Middle East, Sri Lanka and Australia. His professional career includes senior roles with HSBC Group in Bahrain, where he held responsibility for finance and operations, global markets and treasury, corporate treasury sales and asset and liability management. He subsequently moved into entrepreneurship and advisory services, providing financial and strategic consultancy to private and public sector organisations.
In addition to his responsibilities at Sampath Bank, Wijeyeratne serves as Senior Independent Director of Singer (Sri Lanka) PLC and Hayleys Fibre PLC, and as an Independent, Non-Executive Director of Janashakthi Insurance PLC. His extensive governance experience across these institutions has provided him with broad exposure to financial oversight, risk, strategy and corporate governance.
Wijeyeratne is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka, a Fellow Member of the Chartered Institute of Management Accountants, UK, and a Graduate Member of the Australian Institute of Company Directors. His combination of financial expertise, governance experience and strategic insight positions him to make a significant contribution to Sampath Bank’s continued growth and transformation.
KOKO, Sri Lanka’s leading Buy Now, Pay Later (BNPL) platform, has partnered with Ceylinco General Insurance to introduce Sri Lanka’s first customised medical insurance offering designed exclusively around the needs of KOKO customers.
The partnership marks a first for Sri Lanka’s fintech and insurance sectors, bringing together Ceylinco General Insurance’s decades of expertise in health insurance with KOKO’s understanding of its customer community to create a medical protection solution built specifically for the digital lifestyle and financial needs of KOKO users.
Unlike a standard health insurance product adapted for a partner platform, this offering has been developed as a customised value package for KOKO customers, focusing on accessibility, affordability and ease of activation within the digital journey they already use. The policy provides medical insurance cover of up to USD 40,000, offering meaningful protection against hospitalisation, treatment costs and major medical expenses.
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