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Report No.'10053-PH Philippines Capital Market Study (In Two V&lumes) Volume II: Contractual Savings.Sector February 24, 1992 Industry and Energy Division Country Department I East Asia & Pacific Region FOR OFFICIAL USE ONLY 17 ~ ~ ~ ~ ~ ~ .. K; t tt- 6b;0X1-. '<,; '., '- ,' t'Afl. ~ ~ ~ ~ ~ I q9fl t" * ' .tli: : ...Y"..............' ' '''C. ;," "'-54-. , g 4 X -t $ ,>; Y - i l..9.,' ' vq 1 ~ . < - , t :t i t " '' ' I'.!' ' - S