P16.4-B subsidies released to 2.1M small business workers
MANILA – The first tranche of a two-month wage subsidy package has been credited to the accounts of more than 2.1 million qualified beneficiary-workers of the Small Business Wage Subsidy (SBWS) program, jointly implemented by the Department of Finance (DOF), Bureau of Internal Revenue (BIR), and the Social Security System (SSS). The SBWS was designed to support qualified workers who were not able to receive their salaries for at least two weeks due to the enhanced community quarantine (ECQ) and other containment measures imposed by the national and local governments since middle of March to prevent the spread of the coronavirus disease 2019 (Covid-19).
This SBWS initiative is one of the intervention programs that the Duterte administration has rolled out in support of low-income families, workers of small businesses, and other vulnerable sectors that are hardest hit by the Covid-19 pandemic’s economic fallout.
The SBWS interagency task force is chaired by the DOF, represented by Assistant Secretary Antonio Joselito Lambino II, and with SSS President A total of about PHP16.4 billion CEO Aurora Ignacio and BIR Deputy worth of subsidies were credited to Commissioner Arnel Guballa as the accounts of SBWS beneficiaries members. as of May 12, equivalent to PHP5,000 to PHP8,000 per qualified worker, Lambino said MLhuillier Kwarta depending on the minimum wage level Padala, through the Development in his or her region. Bank of the Philippines (DBP), is the partner-remittance center of the SSS in SBWS subsidies are either the disbursement of wage subsidies to credited to the beneficiaries’ bank or unbanked beneficiaries. PayMaya accounts or sent through cash remittance via MLhuillier financial The task force decided to tap services. the DBP because of its experience May 16-22, 2020 |
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