In order to assist around 9.3 million households deal with the ongoing high inflation trend, the Marcos administration would shortly distribute the P1,000 cash assistance under the extended Targeted Cash Transfer (TCT) program, according to Finance Secretary Benjamin Diokno via GMA News report.
“Na-identify na namin kung saan kukunin ang pera at siguro in a few days or a few weeks mabibigay na namin ito sa mga naapektuhan ng inflation,” Diokno said.
“Napaka-importante rin sabi namin na since mataas ang inflation, siguro ipagpatuloy natin ‘yong mga ayuda na binibigay natin sa mga nangangailangan,” Diokno added.
The qualified beneficiaries include the 4 million household beneficiaries of Pantawid Pamilyang Pilipino Program (4Ps), former Unconditional Cash Transfer (UCT) beneficiaries (implemented in 2018-2022 under RA 10963 aka Train Law) together with the beneficiaries of Social Pension for Indigent Senior Citizens Program and household under 1st-5th income decile in the list or any poverty data sources.
Additionally, Diokno said that this year’s cash assistance will fall under the extended TCT scheme. The program, which was started by the previous administration, intends to ease the financial hardship experienced by low-income families as a result of the rise in the cost of products brought on by the rise in the price of oil caused by the conflict in Russia and Ukraine.
The P500 cash aid will be given for two months, or P1,000 to more than 9 million indigent family through cash cards.
“Majority ng mga beneficiaries dito, meron nang mga cash cards, hinihintay pa ang ibababa na guidelines sa atin ng Department of Budget and Management (DBM) pero ‘yong implementation po nito ay reding-ready na po ang DSWD,” Spokesperson ASEC. Romel Lopez stated.
In case you missed it, the Targeted Cash Transfer (TCT) program is a P500 cash aid program to be received by the bottom 50% households each month in the Philippines. This was implemented by the DSWD through a period of 6 months to ease the effect of increasing prices of fuel.