Finance Secretary Benjamin Diokno (Contributed photo)

QUEZON CITY (PIA) -- Finance Secretary Benjamin Diokno has welcomed the Department of Budget and Management’s (DBM) approval of a P4.1-billion special allotment release order (SARO) to aid second tranche beneficiaries of the government’s Targeted Cash Transfer (TCT) Program.

The Department of Finance (DOF), as chair of the TCT inter-agency committee, requested the immediate release of the budget to help mitigate the impact of inflation on vulnerable Filipinos. 

Under the TCT program, each household identified by the Department of Social Welfare and Development (DSWD) shall receive an amount of Php 500 per month for six months.

“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,” Sec. Diokno said.

In a press release on Monday, Aug. 1, the DBM announced that Budget Secretary Amenah Pangandaman approved the release of a SARO amounting to P4,133,932,538 to the DSWD for the TCT Program.

The DBM estimates that over four million households will benefit from the budget allotment, which covers the program’s second tranche requirements for two months. 

“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,” Diokno added. (DOF/PIA-NCR)