Ms. Carlota P. Valenzuela

March 19, 1982 Ms. Carlota P. Valenzuela Supervision and Examination Sector Central Bank of the Philippines Manila, Metro Manila Dear Ms. Valenzuela: This has reference to your letters dated January 20, 1982 and July 6, 1981, relative to your proposal to create an inter-agency committee composed of representatives from the Bureau of Internal Revenue, the Securities and Exchange Commission and the Central Bank of the Philippines "to undertake the task of establishing a regulatory framework to encourage the formation/expansion of leasing companies as a means of direct usage of funds." cdlex In view of the vital role that leasing companies play in the economic development of the country, we believe that your proposal is, indeed, timely and meritorious. Kindly advise us if the Bureau of Internal Revenue has already given its conformity to the proposal and we can set a date to thresh out the preliminaries on the formation of the proposed inter-agency committee. I hope to hear from you at the soonest. LexLib Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner