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Nation

DBM releases P6.2 billion ayuda for poor families  

Louise Maureen Simeon - The Philippine Star

MANILA, Philippines — Low-income households are assured of receiving their monthly cash assistance for the next six months as the budget department released P6.2 billion to cover the financial aid before the term of the Duterte administration ended.

The Department of Budget and Management (DBM) said the amount would cover the first tranche of the targeted cash transfer program of the Department of Social Welfare and Development.

Six million people or about half of the targeted 12.4 million will receive the aid.

Four million are households enrolled under the Pantawid Pamilyang Pilipino Program or 4Ps while two million are social pension beneficiaries.

The beneficiaries will come from the poorest 50 percent of the population.

They will receive cash subsidy of P500 for six months, to be distributed in three tranches or two months at a time.

This means beneficiaries will receive P1,000 for the first tranche, which they can receive either through the cash cards issued by the Land Bank of the Philippines or other approved modes of distribution.

Duterte ordered the distribution of monthly financial assistance or ayuda for poor families in March when fuel prices started to increase amid the conflict between Ukraine and Russia.

The budget department vowed to ensure the timely and prudent release of funds to help ease the burden of the most vulnerable sectors of the population as prices of fuel and basic commodities continue to increase.

Inflation rose to 5.4 percent in May, the highest in nearly four years.

DBM

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