The government plans to release the P500 monthly ayuda or cash assistance to poor Filipinos starting April, a budget official said Wednesday after President Rodrigo Duterte ordered the subsidy increased due to rising commodity prices.
Some P20 billion in funds are needed to provide the P500 cash aid to over 13 million Filipinos for three months, Budget Usec. Tina Canda said.
"Iyang P500 a month na iyan, ang kaya pa lang at this point is probably mga tatlong buwan ‘no, siguro sa mga excess revenues na makukolekta ng DOF (Department of Finance)," Canda said in a televised briefing.
READ: Duterte Orders Increase of Monthly Ayuda for the Poor to P500
President Duterte initially approved a P200 monthly subsidy for the bottom half of the population to help the poorest Filipino families cope with soaring fuel prices.
But earlier this week, the President ordered the finance department to increase the subsidy to P500, saying the initial approved amount was too small.
Asked how the government plans to fund the P500 subsidy for the rest of the year, Canda said these could be sourced from excess revenues from tax collections and dividends of government-owned or controlled corporations.
"Talagang excess revenues lang ang puwedeng pagkuhanan nito at ang excess revenues makukuha lang either sa, ito nga, excess VAT collections at tsaka iyong dividends ng government corporations. At this point, iyon pa lang ang naa-identify natin," Canda said.