By Ellalyn De Vera-Ruiz
The remaining 2.6 million household-beneficiaries of the government’s unconditional cash transfer (UCT) program will receive P2,400 cash grants before the end of 2018.
The UCT is the largest tax reform mitigation program under the current administration’s Tax Reform for Acceleration and Inclusion (TRAIN) Law.
It seeks to provide cash subsidies to over 10 million indigent Filipino families/individuals to cushion the effect of the adjustments in the excise tax of petroleum products and sweetened beverages.
The beneficiaries include Pantawid Pamilyang Pilipino Program recipients, social pensioners, and households listed under the Listahanan or the National Household Targeting System for Poverty Reduction.
According to Department of Social Welfare and Development (DSWD) Undersecretary Florita Villar, DSWD has so far prepared and uploaded the payroll documents for the P2,400 UCT grants of 8,603,905 beneficiaries to the Land Bank of the Philippines.
She said the remaining 2,600,000 beneficiaries are expected to have their scheduled payouts via over-the-counter or conduits this December.
Under the program, beneficiaries will receive a one-time P2,400 subsidy for 2018, and P3,600 grant each year for 2019 and 2020.
The DSWD earlier emphasized that the UCT grant is just an added assistance to help the poor cope with the increase in prices of basic commodities and not meant to address all their needs.
Studies have also shown that the impact of the excise tax adjustment is very minimal compared to the impact of the price increases of crude oil in the global market.