DBM approves P4.1 billion inflation aid for hardest-hit households

The Department of Budget and Management (DBM) on Monday approved a P4.1 billion special allotment to aid four million beneficiaries to mitigate the impact of inflation on the most vulnerable households.

Through the Targeted Cash Transfer (TCT) program, individuals identified by the Department of Social Welfare and Development as non-beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) shall receive P500 per month for two months.

In a statement, the DBM said its chief, Amenah Pangandaman, approved the release of the Special Allotment Release Order (SARO) amounting to P4,133,932,538 to the DSWD upon the request of the Department of Finance (DoF).

“This is good news, especially for the most vulnerable households, who will be the beneficiaries of the second tranche of the TCT Program,”Pangandaman said. “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.”

The P4.1 billion budget allotment will cover the second tranche requirements for the implementation of the TCT Program.

“Hangga’t kaya natin, patuloy po nating susuportahan ang mga programa ng pamahalaan na magbibigay-tulong sa ating mga kababayan,” added Pangandaman. “Sa kabila ng pandemya at pagtaas ng presyo ng mga bilihin, patunay po ang ayudang ito na hindi po kayo pinababayaan ng gobyerno sa panahong kayo ay nangangailangan.”

DoF Secretary Benjamin Diokno welcomed the approval of the SARO.

“The economic team has made sure that we have enough resources to provide targeted assistance to the most vulnerable households and sectors,” said Diokno in a separate statement. “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.”

The Finance chief stressed that 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,” he said.

In June, the Philippine Statistics Authority reported that the country’s headline inflation rate rose to 6.1 percent, the highest in more than three years.

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