Panay (pänĪˈ) [key], island (1990 pop. 3,136,425), 4,446 sq mi (11,515 sq km), one of the Visayan Islands, 6th largest of the Philippines, NW of Negros. Primarily agricultural with extensive lowlands, it is a major rice and sugarcane producing area. Industries include sugar-processing, lumbering, and fishing. The island comprises the provinces of Aklan, Antique, Capiz, and Iloilo.