MANILA -- A total of P5,200,000,000 has been released by the Department of Budget and Management (DBM) to cover the one-month requirement of the Targeted Cash Transfer (TCT) program of the Department of Social Welfare and Development (DSWD).

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

The amount seeks to cover part of the third tranche of the TCT program. Around 9.8 million identified beneficiaries will be covered by the latest fund release.

"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.

TCT Program grants unconditional cash transfers to the most affected households in the amount of P500 per month for 6 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 one-month grant for the 9.8 million identified beneficiaries and three-month grants for additional 2.6 million beneficiaries of the TCT program.

Special Provision of the Unprogrammed Appropriations (UA), Republic Act No. 11639, FY 2022 General Appropriations Act (GAA) 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. (DBM)