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.
Business
Ceylon Chamber welcomes IMF review approval, urges continued reform momentum amid external pressures
The Ceylon Chamber of Commerce welcomes and commends the Government of Sri Lanka on the successful completion and approval of the 5th and 6th Reviews under the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme. This milestone enables Sri Lanka to access approximately USD 695 million in financing support, reinforcing confidence in the country’s ongoing economic recovery and reform agenda.
At a time of heightened global uncertainty and external sector pressures arising from the conflict in the Middle East, the Chamber believes this approval sends a strong positive signal to markets, investors, and the private sector. Continued engagement with the IMF programme remains critical to preserving macroeconomic stability, restoring investor confidence, and strengthening Sri Lanka’s external resilience.
The Chamber notes that the IMF review underscores the importance of sustaining structural reforms, including improving the investment climate, enhancing competitiveness, and accelerating infrastructure and institutional reforms that support private sector-led growth.
At the onset of the Middle East crisis, The Ceylon Chamber of Commerce submitted recommendations to the Government addressing several immediate economic and energy-related risks. These recommendations remain highly relevant in managing emerging pressures on the exchange rate, energy costs, and overall external sector stability.
In line with the Ceylon Chamber’s earlier recommendations, the following priority measures are reiterated:
Strengthen and optimize the fuel QR system as a digital platform to improve efficiency and facilitate better targeted support mechanisms for priority groups such as public transport and school transport operators, while maintaining cost-reflective pricing principles.
Continue to ensure clear and consistent communication on the direction of economic policy to further reinforce confidence among businesses and investors, support orderly exchange rate expectations, reduce market uncertainty, and sustain overall macroeconomic stability.
The Ceylon Chamber also emphasises the importance of accelerating reforms that improve Sri Lanka’s competitiveness in trade, investment, tourism, logistics, and digitalisation. Advancing these reforms will be essential to sustain and improve macroeconomic stabilisation and resilience. The Ceylon Chamber has also urged its members to act responsibly during this critical period by supporting measures that preserve economic stability and safeguard Sri Lanka’s long-term interests.
The Ceylon Chamber of Commerce remains committed to actively engaging with policymakers and stakeholders in supporting progressive economic reforms, the successful completion of future IMF programme reviews, and Sri Lanka’s transition towards a resilient and competitive economy.
Abans Finance PLC (Abans Finance) recently marked the official listing of its maiden 13,384,000 debentures on the Colombo Stock Exchange (CSE) with a bell ringing and market opening ceremony held at the CSE trading floor.
The offer for subscription for the initial issue of ten million (10,000,000) listed, rated, senior, unsecured, redeemable five-year (2026/2031) debentures of LKR 100/- each, was rapidly oversubscribed, having received subscriptions for 13,384,000 debentures for a value of LKR, 1,338,400,000/-, reflecting strong investor confidence in Abans Finance’s strengths and the debt market.
Abans Finance is a licensed non-banking financial institution and subsidiary of the Abans Group and currently operates with nine branches, nine customer centres and four kiosks in addition to the head office, leveraging on the island wide presence of Abans Group to reach customers across the island. Abans Finance services include finance leasing, hire purchase, mortgage loans, personal loans, real estate development and acceptance of time and savings deposits. Founded in 2006, the Abans Finance was also listed on the CSE in 2011 and enjoys a Fitch Credit Rating of A – (lka) Stable Outlook.
Through its first debenture, which carries an “A-” (lka) rating from Fitch Ratings Lanka Limited and was managed by NDB Investment Bank Ltd, Abans Finance aims to expand its asset base, strengthen loan portfolios, grow its presence by leveraging the Abans Group financial ecosystem to drive digital transformation and deliver integrated solutions.
K.J.C. Perera, Chairman of Abans Finance PLC and keynote speaker at the ceremony, remarked upon the company’s debenture issue, commenting “This milestone underscores strong investor confidence in Abans Finance PLC and strengthens our capital base as we advance our strategy for sustainable growth and innovation.”
Delivering his welcome address at the event Rajeeva Bandaranaike, CEO of CSE, remarked upon the debenture listing, stating: “Today’s listing of the debt issue by Abans Finance PLC reflects a broader engagement by companies to use the capital market for their funding requirements. More recently we have seen a fair growth in the primary issuances of debt. In 2024 approximately LKR 95 Bn was from debt. In 2025, LKR 113 Bn was raised through debt – and in 2026 approximately LKR 60 bn was raised through debt.”
2025 saw 22 debt listings including 3 new companies listing on the exchange by way of debt initial public offerings (IPOs) including several firsts in the country from GSS+ debt instruments (Green, Social, Sustainability linked), Shariah compliant debt instruments and High Yield Bonds, with access to investors and brokers facilitated by a fully digitized CSE platform, which can be accessed through CSE’s website and mobile app.
Sun Siyam Pasikudah, Sri Lanka’s five-star boutique retreat and part of the Privé Collection within Sun Siyam, reinforced its commitment to community and conservation with a beach cleanup along Pasikudah Bay on 08th May 2026. Held under the group-wide Sun Siyam Cares umbrella, guided by “Caring for our People, Nature and Culture”, the morning brought together school students, hotel staff, and in-house guests for hands-on environmental action.
Unlike typical cleanup drives, this initiative placed education at its heart. Students from a local school joined guided sessions on coastal ecosystems, the impact of marine litter on biodiversity, and the role every individual plays in protecting Sri Lanka’s coastline, giving young people from the surrounding community a firsthand understanding of why this bay matters, ecologically, culturally, and economically.
Arshed Refai, General Manager of Sun Siyam Pasikudah, said: “What makes this cleanup different is who we did it with. When a child understands why this bay is worth caring for, its ecology, its beauty, what it means to the families who live here, that knowledge stays with them. That is the most sustainable investment we can make.”
Pasikudah Bay’s shallow, crystal-clear turquoise waters and the Eastern Province’s rich marine and cultural heritage, from centuries-old mosques and kovils to the vibrancy of Kattankudy, make it a coastline worth protecting. Participants spread across the shoreline collecting and sorting waste in line with the resort’s zero-waste management principles, while guests noted the activity deepened their connection to the destination beyond a typical resort experience.
Sun Siyam Pasikudah holds the Travelife Gold Certification across 147 criteria spanning energy, water, wildlife, waste, and community welfare. The resort grows over 38 varieties of fruits, vegetables, and herbs on its organic farm, operates solar-powered installations, has eliminated single-use plastics entirely, and sources locally wherever possible. The Sun Siyam Cares Fund supports CarePhant, backing the care of Kalo, a young elephant at the Elephant Transit Home in Udawalawe, ahead of his return to the wild in 2029.
As part of Sun Siyam Resorts, named Most Influential Sustainable Hotel Group of the Year at the 2025 GO TRAVEL Awards, initiatives like this reflect a sustained, year-round commitment to ensuring tourism on the East Coast is a force for renewal, not depletion. For reservations, visit www.sunsiyam.com/sun-siyam-pasikudah or call 065 205 5555.
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Prime Minister and United Nations Resident Coordinator discuss post-Ditwah recovery and humanitarian cooperation
Further embrace the values of Buddhism founded upon non-violence, compassion and boundless loving-kindness towards all living beings – President
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