Fri, Dec 31, 2004 - Page 10 News List

FSC head incompetent, lawmakers say

By Debby Wu and Joyce Huang  /  STAFF REPORTERS

Several opposition lawmakers yesterday demanded the government remove Financial Supervisory Commission Chairman Kong Jaw-sheng (龔照勝) from the Cabinet, saying he was incompetent and negligent in his duty to report to the legislature.

The bitter words came after the legislature's Finance Committee on Wednesday shelved the budget for the commission because a plan for how the money would be used is incomplete.

People First Party lawmaker Lee Tung-hao (李桐豪) said that Kong had taken leave for over half of the sittings arranged for legislative questioning of the Cabinet.

Lee said that Kong also missed more than half of the Finance Committee sessions, even when important bills such as the Financial Restructuring Fund (金融重建基金) were being reviewed.

In response to the comments, Kong said that the commission "is entitled to show respect to the legislature, which is responsible for checking and balancing the commission's power."

He said that in the past he had followed necessary procedures to take leave from legislative sessions.

He noted that he had taken leave yesterday morning due to an emergency that may jeopardize the nation's financial stability.

He refused to elaborate on the emergency, however, citing "inconvenience, and that its gravity might impact the financial market."

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