QUEZON CITY (PIA) -- Some 7,597,546 beneficiaries are expected to benefit from the Targeted Cash Transfer (TCT) Program of the Department of Social Welfare and Development (DSWD) as the Department of Budget and Management (DBM) approved on 16 May 2023 the release of Special Allotment Release Orders (SARO) with a total amount of P7,684,844,352.

The fund recently approved for release covers the remaining two-month period of the TCT.

This government program provides financial assistance to low-income households by giving a cash subsidy of P500 per month for six months or a total of P3,000. It aims to cushion the impact of the elevated costs of fuel and other basic commodities.

DBM Secretary Amenah F. Pangandaman assures that the administration will “ensure that our fellow Filipinos, especially those who are vulnerable or in need, will be given care and support.”

“We are grateful to our beloved President for the swift approval of our recommendations to accommodate the special budget request of DSWD for the implementation of the TCT program. Pinapakita lang po nito na prayoridad ng Pangulo ang pagkalinga sa ating mga kababayan na nangangailangan,” Secretary Pangandaman said.

To recall, in fiscal year 2022, the DBM was able to release a total of P19.43 billion to the DSWD covering four out of six monthly fund requirements for the TCT. (KSAA – PIA CPSD with information from DBM)

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File photo.