Memorandum Circular No. 157




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ Memorandum Circular No. 157, February 15, 1968 ] URGING DIRECT ASSISTANCE IN THE INSTALLATION OF THE DBP PAYROLL SAVINGS PLAN IN GOVERNMENT OFFICES. The Development Bank of the Philippines has launched an all-out campaign of the promoting savings and investment-consciousness among government employees through its Payroll Saving Plan on DBF Progress Bonds. The plan offers the privileged opportunity of acquiring the high-earning and liquid bonds through payroll deductions with an incentive premium on the monthly or weekly deductions almost equivalent to that of a savings depeit. Considering the laudable objectives of the DBF in this project, more particularly its significance in relation to the Administration’s economic program, all heads of departments and chiefs of bureaus and offices including government-owned or controlled corporations, are hereby urged to extend their direct assistance to staff members of the DBF Securities Marketing Department for the proper and wisely-participated installation of the DBF Payroll Savings Plan in their respective offices to enable all interested employees to subscribe to the plan. By authority of the President: (SGD.) RAFAEL M. SALAS Executive Secretary 1âшphi1 Manila, February 15, 1968 The Lawphil Project - Arellano Law Foundation