The Department of Social Welfare and Development on Tuesday said they are ready to provide cash assistance to small rice retailers who may incur losses due to the Malacanang-mandated price ceiling on rice which became effective yesterday 5 September.

DSWD Secretary Gatchalian said he was directed by President Ferdinand R. Marcos Jr. to use the department's Sustainable Livelihood Program to help small rice retailers recover their would-be losses from the temporary price cap.

"We discussed with the President that we will use the DSWD's Sustainable Livelihood Program once again so that our small retailers affected by this temporary price cap on rice can be assisted," Gatchalian said.

Under Executive Order No. 39 signed by Executive Secretary Lucas Bersamin on 31 August, the mandated price ceiling for regular milled rice is P41 per kilo while the mandated price cap for well-milled rice is P45 per kilo.

The DSWD chief said the SLP currently has a P5.5 billion budget which can be immediately used to help cushion the impact of the price cap on rice particularly among small rice retailers who have a very small inventory.

The SLP is a capacity-building program that provides start-up capital for those who wish to start a small business, capital build for cases similar to the effects of the EO 39 to small businesses, and employment grants.

Gatchalian said the Department is just waiting for the list of qualified small rice retailers, which will be provided by the Department of Trade and Industry  and the Department of Agriculture.

"Hopefully, by next week, we can conduct a payout for the sustainable livelihood grant to our affected rice retailers," Gatchalian said.

To date, the DTI and the DA are currently coming up with a list of affected rice traders and rice retailers who will receive the government's assistance.

Gatchalian pointed out that the DSWD is ready to begin the nationwide payout to the qualified recipients of financial aid amounting to a maximum of Php15,000.

"Bagamat kino-compute pa ng DTI at DA ang dapat matanggap ng bawat tatamaang rice retailers, ang maximum na ibinibigay ng programang SLP ay P15,000. One time big time," the DSWD chief pointed out.

Last Monday, the DSWD chief said he had a meeting with Speaker Martin Romualdez who vowed to raise P2 billion to help augment the SLP budget for the benefit of more small rice traders and retailers.

"I told Speaker Romualdez that the SLP's P5.5 billion is enough to help the distressed small rice retailers. But I also welcome the additional budget as this would mean more Filipinos will be given assistance under the SLP," Gatchalian said.