Once again, we, the concerned employees of Quedan and Rural Credit Guarantee Corporation (QUEDANCOR), are seeking your intervention relative to the latest plan for our office- the reduction of the personnel complement from 897 to 258 by the end of June 2009. This decision is being pursued despite the public pronouncement of Her Excellency that no single government worker will lose his job.
First and foremost, the primary consideration for this mass lay-off is the financial problem confronting QUEDANCOR. According to the Management, the corporation could only sustain 258 employees. We decry this allegation. From our perspective, it is apparent that the reduction of personnel is designed to generate savings to pay the corporation’s private creditors. In effect, the employees become the sacrificial lambs who shall bear the effects of the mismanagement suffered by the corporation under its previous administration. Inevitably, the more than 600 employees who will be terminated will swell the ranks of the unemployed amidst the global economic crisis gripping countries worldwide.
We maintain our stand that the solution for the problems gripping QUEDANCOR is the infusion of funds so that QUEDANCOR could reactivate its credit and guarantee programs and deliver its mandate. We believe that the provision of funds would once again trigger the interest and active participation of the lending banks in agricultural credit. More importantly, the strengthening of QUEDANCOR with new funds would send a very strong signal to all stakeholders- farmers, fishermen, rural workers, cooperatives, retailers and wholesalers- that the national leadership recognizes the vital role of credit towards agricultural development.
The Resuscitation of QUEDANCOR would boost its collection efforts and enable the corporation to meet its maturing obligations. The infusion of funds is the only way to minimize the losses to the government and at the same time sustain the growth of the nation’s agricultural sector.
It is for these reasons that we appeal again to you Madame President to assist us in this biggest challenge befalling us, the mere rank and file employees of QUEDANCOR. We hope that you will favorably respond to our plea.