Solons propose creation of Mindanao Railways Corp.

MANILA, Philippines - Two legislators have filed a bill in the House of Representative, which seeks to create a railway corporation in Mindanao.

Cagayan de Oro City Rep. Rufus Rodriguez and Abante Mindanao partylist Rep. Maximo Rodriguez Jr. said that under House Bill 3055, a  Mindanao Railways Corporation will own and operate railroads, tramways and other kinds of land transportation, vessels and pipelines, for the purpose of transporting for consideration, passengers, mails and property between any point in Mindanao.

The Cagayan de Oro congressman cited the experience of Japan, Canada, the United States and most of Europe, which shows that their railroad networks have sped up national development.

He said in these nations, railroads opened up vast land areas, making it possible for tremendous numbers of people to settle and huge volume of goods to be transported there at the lowest cost.

"The influx of people into areas previously unsettled and the easy availability of goods needed for civilized life means higher productivity of the land," he said.

Under the bill, the MRC shall also have the powers to own and/or operate powerhouses, hotels, restaurants, terminals, warehouses, timber concessions, coal mines, iron and other mineral properties and manufacture rolling stocks, equipment, tools and other appliances and construct and operate in connection with its railroad lines, toll viaducts, toll tunnels and the like.

The MRC shall have an authorized capital of P1 billion for its initial operation divided into P10,000,000 shares at par value share of P100, which shall be fully subscribed by the government, the bill said.

The MRC shall be exempted from payment of all taxes of every name and nature, municipal, city, provincial or national.

A continuing annual appropriation of P200 million shall be appropriated from any funds in the National Treasury.