THE GOVERNMENT has approved the release of P7.68 billion for its targeted cash transfer (TCT) program.
In a statement on Thursday, the Department of Budget and Management (DBM) said the fund will cover the remaining two months of the financial aid program, with each of the 7.6 million beneficiaries to get P500 per month.
Earlier this year, Department of Finance Secretary Benjamin E. Diokno said that the government was allocating P9.3 billion for the cash transfer program.
“We have recomputed the TCT fund requirements based on the recalibrated number of targeted beneficiaries for the two-month period amounting to P7.68 billion,” Budget Undersecretary Goddes Hope O. Libiran said in a Viber message.
Last year, the government released a total of P19.43 billion under the TCT program.
The program was launched in June last year to help mitigate the impact of rising fuel prices and commodities on the most vulnerable households. — Luisa Maria Jacinta C. Jocson