Philippine Sugar Corporation

Established on 14 November 1983 by virtue of Presidential Decree No. 1890.

Its creation was brought about by the need to support the sugar industry at that time, it being one of the biggest and most reliable sources of foreign exchange earnings of the country.

During that time, many of the obligations of the sugar mills, refineries and other sugar facilities acquired after the war at heavy financing cost to rehabilitate the damaged sugar industry remain unpaid and in arrears; it created an onerous burden, not only to their owners, but to the local financing institutions as well.

Philsucor was thus, created, specially charged and empowered to design and implement a program for sugar mills, refineries and other sugar facilities.