By Genalyn Kabiling
More than 114,000 workers have so far benefited from the second tranche of the Small Business Wage Subsidy program (SBWS) of the government, according to President Duterte.
President Rodrigo Roa Duterte TOTO LOZANO/PRESIDENTIAL PHOTO/ FILE
In his 10th weekly report to Congress on Monday, the President said the government has released P634.3 million for the cash grants of 114,302 employees of small businesses affected by the coronavirus lockdown as of May 27.
At least P25.5 billion budget allocation has been allocated for the payout of the second tranche that started last week. The Social Security System is assigned to release the cash grants to an estimated 3.05 million approved employees.
According to the President, at least 2.87 million workers have already received their subsidy during the first tranche of the small business wage subsidy program. At least P23.7 billion of the P25.5 billion budget allocation has been released.
Under the two-month program, the government aims to give a subsidy of P5,000 to P8,000 per worker depending on the minimum wage of a region. The first tranche was supposed to be implemented from May 1 to May 15 while the second tranche will be released from May 16 to May 31.
GSIS loans
The President also reported to Congress that the Government Service Insurance System (GSIS) has released P4.48 billion in emergency loans for 3258,372 members and old-age pensioners as of May 27.
The amount is in addition to the P143.46 million granted to 3,230 members and pensioners who applied for consolidated loan, policy loan, and pension loan online.
He said the GSIS also released P1.56 billion to 54,229 members and pensioners who applied for loan through the GSIS wireless automated processing system kiosks.