QUEZON CITY (PIA) -- About P6.2 billion has been released by the Department of Budget and Management (DBM) to cover the first tranche of the Targeted Cash Transfer (TCT) Program of the Department of Social Welfare and Development (DSWD) for the second half of the year.
The beneficiaries shall receive P500 monthly cash subsidies for six months to be distributed in three tranches. This means 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.
This cash subsidy will be distributed to six million beneficiaries from the poorest 50% of the country’s population to help them cope with the rising prices of fuel and other commodities. Specifically, this includes four million households enrolled under the Pantawid Pamilyang Pilipino Program (4Ps) and two million social pension beneficiaries.
The implementing guidelines of the TCT program are issued under DOF-DSWD-DBM-NEDA Joint Memorandum Circular No. 1, s. 2022.
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. (DBM/PIA-NCR)