Nearly 83% of the 3.4 million target beneficiaries of the Small Business Wage Subsidy program have already received the cash aid, President Rodrigo Duterte told Congress on Monday.
In his ninth weekly report, Duterte said the government had released P21.7 billion to cover 2,816,682 employees, representing 82.84% of the 3.4 million target beneficiaries as of May 20. He also said 3.05 million applications have been approved.
The P51-billion financial assistance program ranges from P5,000 to P8,000 per tranche for every beneficiary, depending on the minimum wage levels in their respective regions. The payout schedule for the first tranche was from May 1 to May 15.
Last week, Duterte said the Bureau of Treasury transferred to the Development Bank of the Philippines on May 13 the remaining P25.5 billion for the distribution of the second tranche, which was scheduled from May 16 to 31. —LDF, GMA News