The President’s Fund is an institution incorporated by the Act No.7 of 1978 of the parliament of the Democratic Socialist Republic of Sri Lanka. This Fund was established with an initial capital of Rs.237, 120 contributed by donors at an inaugural ceremony held to mark the tenure of office of the incumbent President J.R.Jayewardene. The Fund is called the President’s Fund and the power to act in management of the Fund in terms of the provisions of the Act is vested in His Excellency the President. The Accounts of the President’s Fund are audited annually by the Auditor General.
- Relief of poverty.
- Advancement of education of knowledge
- Advancement of religion or the maintenance of religious rites and practices.
- Awards to those who have rendered service to the nation.
- Other purpose, which is in the opinion of the President and the Board, of benefit or interest to the Public.
- Medical assistance for various diseases.
- Poverty relief program to improve people’s livelihood.
- Mahapola Scholarship Program.
- Providing scholarships for children who have passed G.C.E. A/L
- Providing scholarships to low-income children who have passed G.C.E. O/L
- Grants for religious reformation and construction works.
- Providing support for ‘Perahera’ and other cultural activities organized annually.
- Accounts maintained in State Banks and Public Trustee Department in the name of President’s Fund for the benefit of individuals.
- Benefits granted at the discretion of the President and the Board.
The sources of income
- Development Lotteries Board.
- Public Donations.