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The country’s largest paper mill, Paper Industries Corporation of the Philippines, is sadly now teetering on the brink of bankruptcy and collapse. Last week reports said the power of Picop’s plant in Bislig went off and its operations had stopped, laying off thousands of laborers and giving bleak future to their dependent families and to Bislig itself. The workers are now protesting for payments of their wages and the alleged mismanagement in the company.
At this writing, reports said that no negotiation has yet occurred to address the issues raised by the Picop workers while the Land Bank of the Philippines is girding for a takeover in the operations of the firm which is heavily indebted to it. Furthermore, opportunistic elements from the management are reportedly fleecing the plant of the its heavy equipment, materials and other saleables in the like manner when the National Steel Corporation in Iligan City was fleeced when it went bankrupt years ago.
Bislig since it was created out from the paper mill’s operations has never have it so good these days. Everytime its town economy revved up and went brisk it was always due to vigor of the operations of the firm. Now it is facing a herculean challenge on how thousands of resident-dependents could survive the crisis in the wake of massive layoffs and unemployment brought about by alleged mismanagement of Bernardino group and other contributory factors attendant to its present closure. That the firm could not even pay for the electric bills it incurred for its latest operations before the closure tells serious implications to its ability to pay unpaid wages and benefits due to now striking Picop workers.
The impending Picop collapse is a case in point challenging other towns dependent only to one or two propulsive industries. At its best, local economy or a town dances to the tune of the vivacity of the industry it is dependent on. At its worst, the dependent town coughs up loud and strong whenever the industry merely sneezes, or it hibernates whenever the industry is falling asleep. (Cha Monforte/Rural Urban News) http://ruralurbanews.blogspot.com
Filed under: bernardino, bislig, surigao city, bernardino, bislig, iligan, picop
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