State-run pension fund Social Security System (SSS) received the biggest amount of monthly subsidy from the national government for the second straight month in May as it, in turn, stepped up disbursement of wage subsidies for workers of small businesses badly hit by the COVID-19 crisis.
The latest Bureau of the Treasury data showed that of the P29.8 billion in total subsidies to government-owned and/or -controlled corporations (GOCCs) last month, the SSS cornered the bulk or P25.5 billion.In April, the SSS also got P25.5 billion, bringing its year-to-date subsidy it had received to P51 billion—equivalent to the amount allocated for the small business wage subsidy (SBWS) program.
In a statement last Friday, the Department of Finance (DOF) said that as of June 24, 3.1 million employees had already received their two months’ worth of wage subsidies of P5,000-8,000 a month.
“This means that more than P45.6 billion-worth of subsidies have been credited directly to more than three million beneficiaries in less than two months since the end of the application period on May 8,” Assistant Finance Secretary and spokesperson Antonio Joselito Lambino II said.“What has allowed the government to quickly distribute the aid relatively smoothly was the use of automated processing and digital technologies in running the program. By design, the SBWS program is largely automated and digital, with manual processing kept to a minimum,” Lambino noted.
“In the implementation of the program, the agencies took advantage of available technologies, cloud computing and the electronic databases of the SSS and the Bureau of Internal Revenue to accurately target intended beneficiaries and quickly distribute the subsidy to millions of employees with zero face-to-face contact between the beneficiaries and government,” Lambino added.
Treasury data showed that the Philippine Health Insurance Corp. (PhilHealth) received just P1 million in subsidies in May, the first month it got such support from the national government this year.
National Treasurer Rosalia de Leon earlier said about P27 billion in subsidies were released to PhilHealth this month.Budget Secretary Wendel Avisado said last month that PhilHealth would be granted P71.3 billion in subsidies this year.From January to May, GOCC subsidies totaled P100.4 billion.
Besides subsidy, the national government also extended equity and net lending support to GOCCs.
But as allowed by the Bayanihan to Heal as One Act, the Department of Budget and Management in April reduced the programmed budgetary support for GOCCs by P5.1 billion.
These budget cuts were instead reallocated to COVID-19 response efforts. INQ