The Marcos administration has released some PHP7.68 billion in subsidies to more than seven million beneficiaries of the Department of Social Welfare and Development’s (DSWD) targeted cash transfer (TCT) program.

In a statement released Thursday, the Department of Budget and Management said the release of Special Allotment Release Orders (SARO) amounting to PHP7,684,844,352 has been approved on Tuesday.

“DBM Secretary Amenah F. Pangandaman has approved on 16 May 2023 the release of Special Allotment Release Orders with a total amount of P7,684,844,352 to fund the Targeted Cash Transfer Program of the Department of Social Welfare and Development,” the budget department said.

“Some 7,597,546 beneficiaries are expected to benefit from the TCT,” it added.

The DBM said the PHP7.68-billion fund approved for release covers the remaining two-month period of the TCT.

In 2022, the DBM released a total of PHP19.43 billion to the DSWD covering four out of six monthly fund requirements for the TCT.

Pangandaman said the release of funds is an indication of the Marcos administration’s strong commitment to helping poor Filipino households.

“Hindi po natin pababayaan ang mga kababayan nating nangangailangan (We will not neglect our countrymen who are in need). In adherence to the directive of President Ferdinand R. Marcos Jr., we will help ensure that our fellow Filipinos, especially those who are vulnerable or in need, will be given care and support,” she said.

“We are grateful to our beloved President for the swift approval of our recommendations to accommodate the special budget request of DSWD for the implementation of the TCT program. Pinapakita lang po nito na prayoridad ng Pangulo ang pagkalinga sa ating mga kababayan na nangangailangan (It only shows that the President’s priority is to help those who are in need),” Pangandaman added.

The DSWD’s TCT program grants unconditional cash transfers of PHP500 per month for six months to approximately 12.4 household beneficiaries.

The program aims to mitigate the impact of rising fuel prices and other non-fuel commodities on vulnerable populations.

The beneficiaries are composed of four million households under the Pantawid Pamilyang Pilipino Program (4Ps), six million non-4Ps who were former recipients of the Unconditional Cash Transfer Program; and 2.4 families on the DSWD’s “Listahanan,” a database established to identify the country’s poorest families. (PNA)