Panay Railways

Panay Railways, Inc. is a government-owned and controlled corporation of the Philippines that formerly operated railway systems on the islands of Panay and Cebu. It is headquartered in La Paz, Iloilo City, and is a subsidiary of Phividec Railways, Inc. under the Philippine Veterans Investment Development Corporation (PHIVIDEC). While Panay Railways currently does not operate any trains, it leases its property, and the generated revenue is utilized to cover personnel and administrative costs associated with maintaining its assets.

The company has been owned in succession by the Rehabilitation Finance Corporation which became the Development Bank of the Philippines (1945–74), and then it was sold to the PHIVIDEC (1974–79). In 1979, management and operations were transferred to the Philippine Sugar Commission (PHILSUCOM) which changed the company's name to the current Panay Railways, Inc. On September 26, 1995, PHIVIDEC re-acquired ownership of Panay Railways from the Sugar Regulatory Administration, PHILSUCOM's successor.

There have been feasibility studies and proposals to revive the railways, including discussions about opening the company to foreign ownership to facilitate the reconstruction of its former train lines. The reconstruction is planned to proceed in four phases: the first phase will cover the route from Iloilo City to Roxas City, the second phase will extend from Roxas City to Caticlan (Boracay) in Malay, Aklan, the third phase will extend from Caticlan to San Jose, Antique, and the fourth phase will complete the loop back to Iloilo City.