QuestionsQuestions (MEMORANDUM ORDER NO. 13)
QUEDANCOR was created pursuant to LOI No. 704 (s. 1978), as amended by Republic Act (RA) No. 7393, otherwise known as the Quedan and Rural Credit Guarantee Corporation Act.
To establish a sustainable guarantee system to improve access to credit in the agriculture sector and accelerate productivity and the flow of investments and credit resources.
Because QUEDANCOR is said to have exceeded the allowable outstanding guarantee obligation provided in its charter.
Under Section 5(a)(ii) of the GOCC Governance Act of 2011 (RA No. 10149), the GCG recommended abolition due to: (a) QUEDANCOR being dormant or nonoperational; (b) duplication/overlap of functions with other agencies/programs; and (c) failure to produce desired outcomes, lack of cost efficiency, and not generating sufficient social/physical/economic returns relative to resource inputs.
Section 5(a)(ii) of RA No. 10149, the GOCC Governance Act of 2011.
The Philippine Export-Import Agency, Small Business Corporation, and the Agricultural Guarantee Fund Pool, which is placed in trust with Land Bank of the Philippines.
It notes that QUEDANCOR has been operating at a loss for the last five (5) years and is allegedly dormant or nonoperational.
It abolishes QUEDANCOR.
QUEDANCOR’s assets shall be liquidated to settle its outstanding liabilities in accordance with applicable laws, rules, and regulations.
Yes. Section 3 states that affected officials and personnel (regular or contractual) may avail of the separation benefits stated in the Order in addition to retirement/separation benefits allowed under existing laws.
First 20 years: 1.00 x BMP x No. of years; 20 years and 1 day to 30 years: 1.25 x BMP x No. of years; 30 years and 1 day and above: 1.50 x BMP x No. of years. BMP means Basic Monthly Pay.
Funding shall be sourced from QUEDANCOR’s corporate funds.
It must ensure there are sufficient funds to cover the compensation for affected officials and personnel.
To assist GCG in implementing the provisions of the Memorandum Order.
Department of Agriculture; Department of Finance; Department of Budget and Management; and Land Bank of the Philippines.
All orders, issuances, or parts thereof inconsistent with the Order are repealed or modified accordingly.
If any provision is declared invalid or unconstitutional, the other provisions not affected remain valid and subsisting.
Immediately upon publication in the Official Gazette or in a newspaper of general circulation.
Salvador C. Medialdea, Executive Secretary, signing by authority of the President.