DBM Releases over P7.68 B for Targeted Cash Transfer Program of DSWD; Over 7 Million to benefit
JG May 18, 2023
Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman has approved on 16 May 2023 the release of Special Allotment Release Orders (SARO) with a total amount of P7,684,844,352 to fund the Targeted Cash Transfer (TCT) Program of the Department of Social Welfare and Development (DSWD).
Some 7,597,546 beneficiaries are expected to benefit from the TCT.
“Hindi po natin pababayaan ang mga kababayan nating nangangailangan. 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,” Secretary Pangandaman said.
To recall, in fiscal year 2022, the DBM was able to release a total of P19.43 billion to the DSWD covering four out of six monthly fund requirements for the TCT.
The P7.68 billion fund recently approved for release covers the remaining two-month period of the TCT.
The program provides a P500-grant per month to beneficiaries, inclusive of administrative cost and bank charges.
“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,” Secretary Pangandaman said.