P5.2B released for cash transfer scheme

THE Department of Budget and Management (DBM) announced it has released P5.2 billion for the government’s Targeted Cash Transfer (TCT) program as of November 2022.

Budget Secretary Amenah F. Pangandaman has approved last November 17 the release of the Special Allotment Release Order (SARO) to the DSWD. The amount, which is expected to reach 9.8 million Filipinos, is the third tranche of the TCT and will be charged against the government’s unprogrammed appropriation.

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

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

The DBM 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.

The P5.2-billion release is part of the P9.1B billion computed requirement to cover the 1-month grant for the 9.8 million identified beneficiaries and 3-month grants for additional 2.6 million beneficiaries of the TCT program.

“Special Provision of the Unprogrammed Appropriations” (UA) under Republic Act 11639 (FY 2022 General Appropriations Act), provides that the UA may be availed of when there are new revenue collections or those arising 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.

Total
0
Shares

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

Romualdez says ‘best is yet to come’ under PBBM admin

Next Article

Pag-IBIG commits ₧250B for housing

Related Posts

Credit worthy

IN the “Marvel Cinematic Universe,” one is deemed “worthy” if they can lift Thor’s hammer, just like what (spoiler alert!) Captain America did in the movie “Avengers Endgame.” In consumer lending, one of the most common ways to determine whether an individual is “worthy” of a loan is through credit scoring, a statistical analysis performed by lenders and financial institutions to determine the creditworthiness of an individual or sole proprietor, according to Investopedia.com.