The Department of Budget and Management (DBM) said the expected budget for the P500 monthly cash aid to poor households is estimated to, so far, fund three months’ worth of financial support.
Tina Rose Marie Canda, acting DBM secretary, said at the Laging Handa public briefing yesterday the government is only able to rely on excess revenues to fund the monthly cash subsidy.
Canda said the P500 cash aid for three months will require a budget of P20 billion.
“The P500 a month, what we can cover at this point is probably three months, based on the excess revenue collections of the Department of Finance,” Canda said.
“The excess revenues will either come from additional dividends from government-owned and -controlled corporations or excess value added tax collections as a result of the increase in the price of oil. We don’t have any other options (for additional fund sources) at this point,” she added.
Canda said the government won’t be able to tap regular collections as they are intended for other existing projects and programs.
“As soon as we receive a certification from the Bureau of the Treasury that the excess collections are available, we will be able to release it to the Department of Social Welfare and Development, which will then be released to the recipients of the unconditional cash transfer,” she said.
Meanwhile, Zona Russet Tamayo, regional director of the Land Transportation Franchising and Regulatory Board (LTFRB) said fuel subsidies for transportation have been distributed to 115,000 beneficiaries through Land Bank of the Philippines.
Land Bank continuously prints Pantawid Pasada cards to intended beneficiaries after the program was expanded to include transport vehicle service providers and UV Express.
“We anticipate that the card distribution will start next week,” Tamayo said. For the tricycles, the LTFRB coordinates with the local government units for the list of beneficiaries.
The LTFRB is also coordinating with the operators and drivers across the country while awaiting the actual download of funds to be used for the Service Contracting Program.
“Hopefully by next month, we can start the service contracting,” Tamayo said.
The program recorded a ridership of 44 million.
“We expect more driver- and operator- participants this year,” Tamayo said.
added.
