The release of targeted subsidies to the most vulnerable Filipino families will help cushion the impact of elevated prices of oil and other commodities, the National Economic and Development Author…
The release of targeted subsidies to the most vulnerable Filipino families will help cushion the impact of elevated prices of oil and other commodities, the National Economic and Development Authority said.
“The timely release of the fund is crucial in the government’s efforts to help the poor cope with the continuous rise in commodity prices due to external shocks and other factors,” said NEDA Secretary Arsenio Balisacan in a statement Wednesday. The NEDA is tasked to flesh out the eight-point socioeconomic agenda in the Philippine Development Plan 2023-2028, which it committed to deliver by the end of the year.
The PHP4.1-billion budget allotment is part of the second tranche requirements for implementing the TCT Program. It will benefit over four million beneficiaries, who mostly belong to the poorest of the country’s population.Under the program, the DSWD will also provide PHP500 per month for two months. Distribution will be through remittance centers, special disbursing officers, and the Land Bank of the Philippines.
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