The Department of Budget and Management (DBM) has released another round of targeted cash subsidy to the most vulnerable Filipino households reeling from increases in fuel prices and food costs.
In a statement, Budget Secretary Amenah F. Pangandaman said Tuesday, Aug. 2, that the DBM approved the release of the Special Allotment Release Order (SARO) amounting to P4.13 billion to the Department of Social Welfare and Development (DSWD).
Pangandaman said the budget allocation covered the second tranche requirements for the implementation of the Targeted Cash Transfer (TCT) program.
“This is good news, especially for the most vulnerable households, who will be the beneficiaries of the second tranche of the TCT Program. They are the ones who were severely affected by the increases in gasoline and other consumer goods,” Pangandaman said.
“We want them to know and feel that their government is here for them. We are ready to help them," she added.
The P4.13 billion budget allotment is expected to benefit over four million beneficiaries, Pangandaman said.
Under the program, each non-Pantawid Pamilyang Pilipino Program (4Ps) beneficiary identified by the DSWD shall receive an amount of P500 per month for two months.
Earlier, the Department of Finance (DOF), as chair of the TCT inter-agency committee, requested for the immediate release of the second funding for the cash aid, which aims to help mitigate the impact of inflation on highly vulnerable households.
In a separate statement on Tuesday, Finance Secretary Benjamin E. Diokno welcomed the DBM approval of the SARO order.
“The economic team has made sure that we have enough resources to provide targeted assistance to the most vulnerable households and sectors,” Diokno said.
“This targeted cash transfer program, proposed by the previous administration, will be continued by this government as rising fuel prices remain a burden to their daily lives,” he added.
In June, DBM had released P6.2 billion for first tranche of the TCT, in which beneficiaries will receive P500 in monthly cash subsidy in three tranches for six month.
“The Marcos administration stands ready to support the most vulnerable. We are prepared to implement necessary measures to make sure that they are cushioned from the impact of inflation,” said Diokno.