DBM says cash grant of P500 to poorest families will '' probably last for three months''
The Department of Budget and Management (DBM) says that the increased subsidy of P500 for the poorest families who belong to the unconditional cast transfer will ''probably last for three months''.
'' At this point, the program will probably last for three months. Maybe the funds will come from excess revenues collected by the DOF (Department of Finance), Canda told the ''Laging Handa'' virtual public briefing Wednesday.
Thirteen million beneficiaries will benefit from this program, said Canda. This will cost P20 billion for three months, she added.
She said the excess revenues will come from dividends of government corporations or excess VAT (value added tax) collections as a result from the increase of the value of oil.
Canda told ANC Headstart she expects that ''April the Btr (Bureau of Treasury) it will be able to certify excess revenues so it can trigger release of these funds.''
President Rodrigo Duterte approved an increase in monthly subsidy of P200 for poor families and P500 last Monday. He ordered Finance Secretary Carlos Dominguez III to look for sources to sustain the amount. DMS
