MANILA: A leader of the House of Representatives on Wednesday said the new cash transfers and other forms of subsidies in the 2024 national budget are expected to help vulnerable sectors cope with the potential rise in commodity prices due to the impact of El Niño.
In a statement, House Minority Leader and 4Ps Party-list Rep. Marcelino Libanan said the various forms of government support, such as expanded cash aid and food stamps, would serve as a “buffer” and provide relief to disadvantaged households as the weather event could dampen farm harvests and overall agricultural productivity next year.
‘Along with the recent increases in the regional minimum wage rates, the subsidies will help struggling families grapple with the upward pressure on consumer prices,’ Libanan said.
He noted that the tripartite wages and productivity boards in 16 regions have ordered increases ranging from PHP30 to PHP50 in the daily minimum wage of workers employed in private establishments.
These pay adjustments, Libanan said,
are expected to benefit an estimated 3.82 million workers receiving the minimum wage rate.
Speaker Martin Romualdez earlier announced that Congress introduced in the 2024 national budget a PHP60-billion program called Ayuda sa Kapos ang Kita (AKAP), which will provide a one-time PHP5,000 cash payment to 12 million poor and low-income households.
Next year’s spending law also includes another PHP30 billion for the Tulong Panghanapbuhay sa Ating Disadvantaged or Displaced Workers (TUPAD), and PHP23 billion for the Assistance to Individuals in Crisis Situation (AICS).
Libanan said the subsidies are on top of the PHP112.8 billion earmarked to pay for the cash transfers to 4.4 million households under the Pantawid Pamilyang Pilipino Program (4Ps).
Romualdez said Congress has also earmarked funds under the PHP5.768-trillion 2024 national budget to implement a government program that would drive down the price of quality rice through monthly rice discount vouchers for almost half of 28 million Filipinos.
‘This
subsidy program is our strong response to President Ferdinand ‘Bongbong’ Marcos Jr.’s call to the House of Representatives to come up with means to bring down the price of rice for disadvantaged Filipino families in difficult situations. It will benefit seven million families across legislative districts in the country, or roughly 28 million people,’ he said.
The new program aims to allow low-income families to buy 25 kilograms of affordable and good-quality rice monthly using Cash Assistance and Rice Distribution (CARD) as a discount voucher.
According to the forecast of the Department of Science and Technology, at least 65 provinces in the country may experience moderate-to-severe drought conditions from February to May next year due to a ‘strong’ El Niño.
Source: Philippines News Agency
