DSWD: Depositing of P500 monthly ayuda may take 5-6 days

The Department of Social Welfare and Development plans to deposit the recently released funds for the P500 monthly cash aid for the country’s poorest household beneficiaries within five to six days, DSWD Secretary Erwin Tulfo said Saturday.

In an interview on Dobol B TV, Tulfo said the monthly cash subsidies to be distributed for six months in three tranches would be deposited in the existing cash cards of beneficiaries of the DSWD's social assistance programs.

“This may take five to six days,” the DSWD chief said.

On Friday, the DBM announced it had released P6.2 billion to cover the P500 monthly cash aid for low-income families to ease their burdens amid the rising fuel and commodity prices.

The amount released is for the Targeted Cash Transfer (TCT) Program, which was approved by then President Rodrigo Duterte in March for the P500 monthly cash grants to help the poor cope with rising inflation.

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

The cash subsidy would be distributed to six million beneficiaries from the poorest 50% of the country’s population, including four million households enrolled under the Pantawid Pamilyang Pilipino Program (4Ps) and two million social pension beneficiaries as identified by the DSWD's National Household Targeting System for Poverty Reduction.

The Duterte administration earlier said that government programs — including subsidies — were among the reasons why it could not suspend the imposition of excise tax on fuel despite unabated oil price hikes.

Meanwhile, Tulfo promised that the cash aid distribution would be timely as “it’s just a matter of depositing sa accounts,” noting that targeted beneficiaries already have existing cash cards issued by the Land Bank of the Philippines. — DVM, GMA News