The Department of Budget and Management (DBM) said the P9.3-billion budget for the new round of cash aid to Filipinos could be released within this month after it identified the funding sources for the program.
Budget Secretary Amenah F. Pangandaman said the funding for the extended Targeted Cash Transfer (TCT) program would come from the “unreconciled” budget from the previous TCT round and from the contingent fund of the Office of the President (OP).
Pangandaman added that about P7 billion would come from the unreconciled budget of the previous TCT and the remaining from the OP’s contingent fund.
Pangandaman also said President Ferdinand R. Marcos Jr. is well aware of the extended TCT program, including tapping the contingent funds of the OP, noting that it was the Chief Executive himself who instructed the Executive branch to bankroll another cash aid program.
“We can release the first P7 billion initially then yung next P2 billion since [the program would run for] two months,” she told reporters in a recent interview.
Pangandaman said the disbursement of the P9.3-billion fund would be through Special Allotment Release Orders.
Earlier, Finance Secretary Benjamin E. Diokno disclosed that some 9.3 million poor Filipino households will soon receive P1,000 as the Marcos administration is extending the government’s TCT program aimed at mitigating the impact of rising costs of goods and services.
The TCT program will be extended for two months and shall start “soon” as it is just awaiting the announcement from Malacañang, Diokno said.
“This will be different from the 4Ps [Pantawid Pamilyang Pilipino Program]. Sometimes even if you are part of the 4Ps you will still be included in this program,” Diokno told reporters on the sidelines of the annual Reception for the Banking Community last week.
The TCT program ended last December 31, 2022 with 9.2 million Filipino households benefiting from the monthly P500 cash aid meant to help poor households cope with the economic impact of the Ukraine-Russia war.
The cash aid program, which was initiated by the previous administration, distributed a total of P18.2 billion, with the last payouts being given last January 4 to 14.