DPP lawmakers yesterday accused the KMT of stealing more than US$100 million in US economic aid in the 1970s and channeling the money to its party-owned business empire.
As part of the DPP's continuing campaign to shed light on KMT assets which the opposition party alleges were obtained illegally, DPP lawmaker Cheng Pao-chin (鄭寶清), who leads a task force called the KMT Assets Reclaiming Agency, made public a finance ministry document from 1976 to support his accusation that the KMT had misappropriated aid money.
"The Bankers Trust International Limited based in the US loaned Taiwan's government US$100 million at a low interest rate -- 1.75 percent -- to be used in assisting state-run businesses," Cheng said.
PHOTO: CHIANG YING-YING, TAIPEI TIMES
"But the KMT took that money and invested it in party-run businesses, including the China Development Corp [now China Development Bank, CDB], the Broadcasting Cooperation of China [BCC], and China Airlines [CAL]," he said.
According to other documents that Cheng revealed yesterday, the KMT took US$86.1 million from the 1976 aid package -- which included the low-interest loan -- and invested it in CAL.
Some of the documents were signed off by former Minister of Finance Fei Hua (
Cheng appealed to the government to take back ownership of CAL and list it as a state-run business.
DPP lawmaker Yeh Yi-chin (
"We can see from those documents that China Development Corp had already taken about US$20 million as of Dec. 31, 1976. We want to ask whether the KMT has returned that money, and why the government has to borrow money to help the KMT's party-run businesses," Yeh said.
Meanwhile, 126 lawmakers, including 34 KMT legislators, 68 from the DPP, 10 from the New Party, and 13 independents, signed a petition demanding that the KMT make public its assets before the March presidential election.
DPP lawmaker Trong Chai (
"Especially those assets taken from the Japanese government after Japan ended its rule over Taiwan should be returned to the people," Chai said.
KMT lawmaker and party official Chen Hung-chi (
"We certainly plan to make public our assets. And we will accomplish it as soon as possible because we do underestimate people's expectations," Chen said.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
REGIONAL STABILITY: Taipei thanked the Biden administration for authorizing its 16th sale of military goods and services to uphold Taiwan’s defense and safety The US Department of State has approved the sale of US$228 million of military goods and services to Taiwan, the US Department of Defense said on Monday. The state department “made a determination approving a possible Foreign Military Sale” to the Taipei Economic and Cultural Representative Office in the US for “return, repair and reshipment of spare parts and related equipment,” the defense department’s Defense Security Cooperation Agency said in a news release. Taiwan had requested the purchase of items and services which include the “return, repair and reshipment of classified and unclassified spare parts for aircraft and related equipment; US Government
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from