Ejercito remains optimistic on PH steel industry revival plans

By Nora Sorino,
Iligan Bureau Chief
and Nene Lechica,
Correspondent

Iligan City – Senator Joseph Victor G. Ejercito remains optimistic that the revival of the Nation Steel Corporation (NSC) will push through under the Duterte administration.

This after he disclosed that he will soon make a privilege speech on the senate floor to underscore the need to revive the country’s steel industry through the NSC.

Speaking before the students of the MSU-Iligan Institute of Technology late last week in a forum called “Yough Economic Forum: The Road to Sustainable and Inclusive Growth” the senator said that this is among the thrusts of of the administration under Pres. Duterte in the economic front as the steel industry is needed by the country now.

When asked whether its revival could be achieved, considering that the shuttered steel plant is still  “very problematic” as it is, and presently under receivership and that the liquidation team under  Atty. Danilo Concepcion “would not take it sitting down” current efforts to revive it without consideration to its present state of receivership, Ejercito said that things can be worked out, specially with the President being keen on the matter.

To note, the  plant is being levied by the city government due to unpaid obligations in the form of real property taxes which the city claims to be over P4 billion due the city, which includes penalties and surcharges.

Concepcion then had opposed the move saying the company had paid the taxes due as it had made use of the the offer of amnesty then being offered by the city in 2004 and which, the city, under then Mayor Lawrence L. Cruz had accepted it.

Moreover, the liquidation team had questioned too the inclusion of their equipment being slapped with real property taxes which they claim is not in compliance with the law as idle equipment is not subject to real property tax but the city nonetheless slapped real property taxes on them, thus the bloating of the amounts due.

The senator said that all these problems with the steel plant can be addresed under the present government of Duterte. He was with Cong. Frederick Siao who earlier made a privilege speech at the House of Representatives regarding the revival of said steel plant.

It can be recalled Mayor Celso Regencia has formed a NSC Technical Working Group which aims to revive operations of said plant by luring investors after levying it, with the would-be investors to deal now with the city government as it is now in the process of owning the plant through the on-going process of levy.

The senator was well aware that there are court battles with regards to the shuttered plant, but he remained positive because.

“The government is committed to it,” the senator said.