An extra financial assistance in the 2024 General Appropriations Act (GAA) could help vulnerable families cope with higher prices amid the El Niño phenomenon, a party-list lawmaker said.
According to 4Ps party-list Rep. Marcelino Libanan, the cash aid in the form of new cash transfers and other subsidy programs in the 2024 national budget were “expected to help vulnerable sectors cope with potential basic commodity price increases due to the harsh impact of the El Niño phenomenon on farm harvests.”
“We are counting on the expanded cash aid and other forms of government support, such as food stamps, to serve as a buffer and provide relief to disadvantaged households,” Libanan said.
“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,” he added.
The tripartite wages and productivity boards in 16 regions have ordered increases ranging from P30 to P50 in the daily minimum wage of workers employed in the private establishments.
The pay adjustments are seen to benefit 3.82 million workers receiving the minimum wage rate.
Speaker Martin Romualdez earlier said the 2024 national budget included P60 billion for the Ayuda sa Kapos ang Kita (AKAP) that provides a one-time P5,000-cash payment to 12 million poor and low-income households.
President Ferdinand Marcos Jr. has signed into law the 2024 budget, including another P30 billion for the Tulong Panghanapbuhay sa Ating Disadvantaged or Displaced Workers (TUPAD) plus P23 billion for the Assistance to Individuals in Crisis Situation.
The subsidies are on top of the P112.8 billion earmarked to pay for the cash transfers to 4.4 million households under the Pantawid Pamilyang Pilipino Program or 4Ps.
Up to 65 provinces in the Philippines may experience drought by May 2024 as a result of a stronger and prolonged El Niño phenomenon, according to the Department of Science and Technology.