DBM OKs release of P4.1B for 2nd tranche of monthly ‘ayuda’ for poor households

The Department of Budget and Management (DBM) said Tuesday it has approved the release of P4.1 billion to cover the second tranche of the P500 monthly cash aid for low-income families intended to ease their financial burden amid the rising fuel and commodity prices.

In a statement, the DBM said Budget Secretary Amenah Pangandaman approved on August 1, 2022 the release of the Special Allotment Release Order (SARO) amounting to P4,133,932,538.

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

The P4.1-billion budget allotment will cover the second tranche requirements for the implementation of the TCT Program, according to the DBM.

Early last month, the Budget Department 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 DBM said the latest release for the TCT is expected to benefit over four million beneficiaries.

"This is good news, especially for the most vulnerable households, who will be the beneficiaries of the second tranche of the TCT Program. Sila iyong mga kababayan natin na lubhang naapektuhan ng pagtaas ng gasolina at iba pang bilihin. We want them to know and feel that their government is here for them. We are ready to help them," said Pangandaman.

The DBM said the immediate release of the P4.1-billion SARO was requested by the Department of Finance (DOF) to help mitigate the impact of inflation on our fellow countrymen.

Under the second tranche of the TCT, each beneficiary identified by the DSWD shall receive an amount of P500 per month for two months.

In a separate statement, Finance Secretary Benjamin Diokno welcomed the approval of the P4.1-billion SARO for the second tranche of the TCT Program.

"The economic team has made sure that we have enough resources to provide targeted assistance to the most vulnerable households and sectors. 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," said Diokno.

"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," added the Finance chief. — RSJ, GMA News