DBM releases P5.2 billion for 9.8 million beneficiaries of targeted cash transfer

DBM releases P5.2 billion for 9.8 million beneficiaries of targeted cash transfer

MANILA, Philippines — The Department of Budget and Management (DBM) on Tuesday said it has released P5.2 billion to cover the one-month requirement of the Targeted Cash Transfer (TCT) program of the Department of Social Welfare and Development (DSWD).

According to the agency, Budget Secretary Amenah Pangandaman has approved the release of the Special Allotment Release Order (SARO) amounting to P5.2 billion to the DSWD on November 17, 2022.

This was charged against the Unprogrammed Appropriation, the DBM said.

It added that the amount released seeks to cover part of the third tranche of the TCT program, benefiting around 9.8 million identified beneficiaries.

“The DBM fully supports the projects and programs that provide social assistance to our fellow kababayans. It was the President himself who gave the marching order not to neglect those in dire need. Thus, we will do everything we can in our capacity so that they may receive the benefits entitled to them,” Secretary Pangandaman said in a statement.

The TCT Program grants unconditional cash transfers of P500 per month to the most affected households for six months to mitigate the effects of the increase in the prices of fuel and other non-fuel commodities on vulnerable populations.

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The DBM said it has previously released a total amount of P10.33 billion to the DSWD covering two months of cash transfers for 10 million target household beneficiaries.

It added that the P5.2 billion release is part of the P9.1 billion computed requirement to cover the one-month grant for the 9.8 million identified beneficiaries and three-month grants for additional 2.6 million beneficiaries of the TCT program.

The Special Provision of the Unprogrammed Appropriations (UA) under the 2022 budget law provides that the UA may be availed of when there are new revenue collections or those from new tax or non-tax sources that are not part of, nor included in, the original revenue sources reflected in the Budget of Expenditure and Sources of Financing.

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