[1] 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.

[2] 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.

[3] Crews working from the north and south met at the railway track's highest elevation in a flag stop near Passi's border with Dumarao, later called Summit.

[12] Also convicted of a lesser charge was Filipino Felipe Abreu Buencamino, whip of the Philippine Assembly and confidant of President Quezon, who allegedly received $50,000 (equivalent to $1,059,722 in 2023) to cooperate with the plan.

[12] In 1974, then-President Ferdinand Marcos entrusted its ownership, management and operations to Philippine Veterans Investment Development Corporation (PHIVIDEC) under DBP BR No.

On March 8, 1977, Phividec Railways, Inc. mortgaged in favor of DBP certain machinery and equipment located in Iloilo City and parcels of land.

Despite the prohibition contained in the aforementioned Deed of Undertaking, PRI obtained a loan from the Traders Royal Bank (TRB) in the amount of ₱20.000 million and executed a Real Estate Mortgage on April 20, 1982.

18, then-President Corazon Aquino abolished the PHILSUCOM and created the Sugar Regulatory Administration (SRA) which assumed trusteeship of assets and records of PRI.

On February 15, 2016, a memorandum from Executive Secretary Paquito Ochoa Jr. to Chairman Cesar L. Villanueva of the Governance Commission for Government Owned or Controlled Corporations (GCG) on the subject of Abolition of PRI stated, among others, the 1) approval by the Office of the President through the Executive Secretary of the GCG’s recommendation to abolish PRI and 2) the creation of a Technical Working Group (TWG) composed of representatives from various government agencies to coordinate with the GCG to implement the activities of abolition.

[15] On March 24, 2022, Panay Railways announced it was opening to foreign ownership to facilitate the reconstruction of its former train lines.

[16] The plan received support from the current administration of President Bongbong Marcos, with several foreign firms expressing interest, including China Railway International Group Ltd. (CRIG)[17] and United Kingdom-based Global Wealth Centres.

[18] As of January 2023, eleven investors from Turkey, the United States, Saudi Arabia, Japan, England, and China had shown interest in reviving Panay Island's railway system.

[19] The first phase of the plan is to reconstruct the original route of Panay Railways which was 117 kilometers long, including 19 permanent and 10 flag stations.

Mayor Treñas suggested relocating the main passenger terminal to Santa Barbara, which already hosts a station previously used and also serves as the entry point to Iloilo International Airport.

[17] The original route was 117 kilometers (73 mi) long, included 19 permanent and 10 flag stations and connected the then-towns of La Paz and Jaro (now districts of Iloilo City), Pavia, Santa Barbara, New Lucena, Pototan, Dingle, Dueñas and Passi in Iloilo and Dumarao, Dao, Panitan, Cuartero and Loctugan in Capiz.

Since ceasing operations, the company has continued to exist and periodically announces plans to rebuild the railway,[1] either along the original route or with a change to include a connection to the Iloilo International Airport.

Some plans include a second phase to extend the line from Roxas City to the Caticlan port, from where ferries to the resort island of Boracay depart.

[13] The bridge in Passi City was spared because of its historical value as an execution site of Philippine guerrillas by Japanese occupation forces during World War II.

It currently leases its property to landless households (among others) from which it derives revenue to defray the personnel and administrative costs of looking after its assets.

[27] Central Station was at the corner of Leon Kilat and P. Del Rosario streets, which is what now the South Bus Terminal, CityMall Bacalso, the Elizabeth Mall, and the SSS building.