P16.4B credited to small business wage subsidy beneficiaries

As of May 12, P16.4 billion has been credited to beneficiaries of the Small Business Wage Subsidy program.

The subsidy covers around 2.1 million workers in the formal sector who were affected by the enhanced community quarantine and other restrictions.

Each qualified worker receives PHP5,000 to PHP8,000 depending on their region's minimum wage level.

The SBWS interagency task force is chaired by DOF Assistant Secretary Antonio Joselito Lambino II with SSS President Aurora Ignacio and BIR Deputy Commissioner Arnel Guballa as members.

MLhuillier Kwarta Padala through DBP serves as the partner-remittance center for unbanked beneficiaries.