7 million Pinoys to receive inflation ayuda

MANILA, Philippines — More than seven million Filipinos will benefit from the P7.6-billion funding that the Department of Social Welfare and Development (DSWD) will receive for its Targeted Cash Transfer (TCT) program.

DSWD Assistant Secretary Romel Lopez said the department would facilitate the release of cash assistance of P500 per month to help beneficiaries cope with rising prices of basic goods and other commodities.

“The DSWD has set mechanisms to implement the TCT program in a timely manner. We hope that through this additional funding, we will be able to help our kababayans in their daily subsistence,” he said.

The Department of Budget and Management (DBM) announced on Tuesday the approval of a Special Allotment Release Order for a P7.68-billion budget for the TCT program.

DSWD Secretary Rex Gatchalian thanked the TCT inter-agency committee composed of the DSWD, DBM, Department of Finance and National Economic and Development Authority for prioritizing the budget allocation for the continuous implementation of the TCT program.