Philippine News Agency
Initial P10.1-B wage subsidies given to workers
The Department of Finance (DOF) announced that P10.1 billion in cash aid has been distributed to 1.26 million workers through the Small Business Wage Subsidy (SBWS) program as of May 6.
The SBWS program, a component of the Duterte administration's COVID-19 relief efforts, aims to support workers in the formal sector.
This initiative is particularly focused on aiding employees from businesses that have been forced to close or operate with a skeleton workforce due to quarantine measures.
The disbursed funds, totaling P10.1 billion, have been sent to beneficiaries' bank accounts, PayMaya accounts, or through MLhuillier remittance centers.
The program is designed to cover approximately 3.4 million workers employed by about 1.5 million businesses affected by the economic downturn caused by the pandemic.
The SBWS interagency task force, led by the DOF with the SSS and BIR as members, manages the distribution of these subsidies.
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