A lawmaker has promised to revive a measure that seeks to rehabilitate and modernize the Philippine National Railways to help address the problems in traffic and mass transportation.
Reelectionist Rep. Gus Tambunting of Parañaque City said he would refile in the coming 17th Congress his House Bill 6017 that will amend certain sections of Republic Act 4156, as amended by RA 6366 to modernize the PNR.
RA 4156 creates the PNR while RA 6366 provides for the rehabilitation and modernization of the railway agency and its facilities.
“An effective and systematic mass transportation program provides a significant positive economic impact. It also creates a transit investment on jobs and business revenues and affirms a variety of broader indirect benefits,” Tambunting, vice chair of the House committee on trade and industry, said.
PNR is believed to be one of the most doable solutions pertaining to the traffic in Metro Manila. However, its purely manual operations, aged and obsolete train system equipment and facilities result in bigger losses
Under the bill, Section 3 of RA 4156 authorizes PNR a capital stock of P50 billion divided into 3,113,000 common shares all with par value of P200 each.
Additional provision in Section 3 states that all existing long term obligations of the PNR to the Philippine government including its agencies or instrumentalities, tax obligation to any local government unit shall be converted into capital stock of PNR and made a part of the subscription.
Section 3-A also authorizes PNR to contract loans, credits and indebtedness in domestic or in any convertible foreign currency or capital goods from foreign governments or their financial institutions.
A new subsection 2-E shall also be added which allows PNR to enter into a joint venture with a qualified private sector partner exclusively for the purpose of operations and maintenance.
Additionally, new Section 2-F shall require LGUs to enforce and implement the PNR’s right-of-way and restore its right to use.
Section 2-G, on the other hand, shall penalize criminally or civilly any person interfering with the free flow, unhampered use and passage of PNR trains along with their tracks, bridges, turnouts, interconnections and all associated linkages.
In Section 9, the PNR managing head shall be appointed by the president of the Philippines and shall hold office for a term of six to eight years.