DBM releases P6.2B for monthly ‘ayuda’ for poor households

The Department of Budget and Management (DBM) said Friday it has released P6.2 billion to cover the P500 monthly cash aid for low-income families to ease their burden amid the rising fuel and commodity prices.

The amount released is for the Targeted Cash Transfer (TCT) Program of the Department of Social Welfare and Development (DSWD).

In March, then President Rodrigo Duterte ordered that the monthly cash aid for the poor be increased from P200, which was proposed by his economic managers, to P500 amid inflation concerns.

But up until Duterte's term ended on Thursday, June 30, the cash assistance remained undistributed. 

The cash subsidy will be distributed to six million beneficiaries from the poorest 50% of the country’s population “to help them cope with rising prices of fuel and other commodities," according to the DBM.

“Specifically, this includes four million households enrolled under the Pantawid Pamilyang Pilipino Program (4Ps) and two million social pension beneficiaries,” it added.

The beneficiaries shall receive P500 in monthly cash subsidies for six months, to be distributed in three tranches. 

“This implies they are expected to receive P1,000 for the first tranche, which will be distributed through the cash cards issued by the LandBank of the Philippines or other approved modes of distribution,” the DBM said.

“The DBM will ensure the timely and prudent release of funds and work closely with all implementing agencies to help ease the burden of the vulnerable population most affected by global crises,” it said. —VBL, GMA News