President Ferdinand Marcos Jr. expressed his desire to resurrect the Philippine Sugar Corp. (PHILSUCOR), which was defunct during the previous administration during a meeting with sugar sector stakeholders in Malaca&ntilde;ang on Wednesday
The Presidential Communications Office (PCO) published a video message from Marcos, recommending that PHILSUCOR be revitalized and that possible changes be made to respond to the current situation and continue the task of giving financial help to farmers.
He explained that PHILSUCOR is a finance firm for farmers, notably cooperatives and farmers' associations, and that the farmers were unable to work since the firm was attempting to be disbanded in 2019.
Former President Ferdinand Marcos Sr. formed PHILSUCOR in 1983 with the objective of financing the acquisition, restoration, and/or development of sugar mills, refineries, and other related assets."
Roberto Benedicto, a fraternity member and UP Law School classmate of the Marcos patriarch, identified it as one of the organizations supporting the sugar industry's monopoly.

Meanwhile, on October 25, 2018, a document from the Official Gazette stated that former President Rodrigo Duterte abolished the PHILSUCOR through Memorandum Order 30, stating that the Governance Commission for Government-Owned and Controlled Corporations recommended its abolition due to the overlapping of its functions and purpose with projects of the Sugar Regulatory Administration (SRA) and state-run financial institutions.

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