THE Department of Budget and Management (DBM) has released a total of P5.2 million to the Department of Social Welfare and Development (DSWD) for the third tranche of the Targeted Cash Transfer (TCT) program.

DBM Secretary Amenah Pangandaman approved on November 17, 2022 the release of the funds, which are charged against the unprogrammed appropriations.

She said around 9.8 million identified beneficiaries under the program are expected to be covered by the fund release.

In March, then President Rodrigo Duterte ordered the release of an additional P500 monthly subsidy for three months to poor families to cushion the effects of rising prices of basic commodities brought about by the oil price hike due to the Ukraine invasion by Russia.

When he assumed office, President Ferdinand “Bongbong” Marcos Jr. ordered the program to continue.

Over the past two months, the DBM has released a total amount of P10.33 billion to the DSWD for the program.

The P5.2 billion release is part of the P9.1 billion computed requirement to cover the one-month grant of the 9.8 million beneficiaries and three-month grants for additional 2.6 million beneficiaries.

“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,” said Pangandaman. (SunStar Philippines)