In retaliation for the Executive Yuan's plan to enact a special law that would empower the government to investigate the KMT's assets, the former ruling party yesterday demanded a thorough probe into the government's role in the loss of up to NT$240 billion the National Stabilization Fund (國安基金) and four other government funds have suffered.
Leaders of the KMT legislative caucus announced that they would join lawmakers across party lines to set up an investigative committee as soon as the legislature reopens after the Dec. 1 legislative elections.
Justin Chou (
The KMT lawmakers, meanwhile, said they had no objection to any investigation into the KMT's assets as long as it is backed up by evidence.
"If the DPP government is to enact a special law based on solid facts, we will approve it according to the evidence presented," said Cheng Feng-chi (鄭逢時), a lawmaker and deputy executive-director of the KMT's Policy Committee. "The DPP cannot fabricate charges and spread rumors to defame the KMT. We can never accept a tactic such as this."
The party said the DPP government should be subject to investigation based on the same standard for "embezzling national assets."
James Chen (陳健治), also a deputy chief of the Policy Committee, said that the DPP government began intervening in the stock market using money from government-run funds when the TAIEX stood at 8,200 points, soon after the DPP came to power last year. The nation's main stock market index yesterday closed at 4,548 after dipping below 3,500 last month.
Losses related to the government's market interventions total about NT$240 billion, which Chen said were a result of the DPP's incompetence.
According to Chen, the losses have jeopardized the retirement benefits of veterans and government employees and are expected to increase government debt.
Chen said the government owes the people an explanation as to who was responsible for the decision to intervene and if any corrupt practices were involved.
The lawmakers suspect that the money was poured into the stock market to save firms owned by President Chen Shui-bian's (
People First Party Chairman James Soong (
Soong said he would support the Executive Yuan's move if any government assets were shown to be illegally obtained by the party.
DPP Chairman Frank Hsieh (
Information released by the Control Yuan shows that many of the KMT's assets were obtained illegally, according to Hsieh.
KEY INDUSTRY: The vice premier discussed a plan to create a non-red drone supply chain by next year, which has been allocated a budget of more than NT$7.2 billion The government has budgeted NT$44.2 billion (US$1.38 billion) to cultivate Taiwan’s uncrewed aerial vehicle (UAV) industry over the next five years, which would make the nation a major player in the industry’s democratic supply chain in the Asia-Pacific region, Premier Cho Jung-tai (卓榮泰) said yesterday. Cho made the remarks during a visit to the facilities of Cub Elecparts Inc (為升電裝). Democratic Progressive Party (DPP) Legislator Chen Su-yueh (陳素月) and Chinese Nationalist Party (KMT) Legislator Hsieh Yi-fong (謝依鳳) also participated in the trip. Cub Elecparts has transitioned from the automotive industry to the defense industry, which is the top priority among the nation’s
SOUTH KOREA DISPUTE: If Seoul continues to ignore its request, Taiwan would change South Korea’s designation on its arrival cards, the foreign ministry said If South Korea does not reply appropriately to a request to correct Taiwan’s name on its e-Arrival card system before March 31, the government would take corresponding measures to change how South Korea is labeled on the online Taiwan Arrival Card system, the Ministry of Foreign Affairs said yesterday. South Korea’s e-Arrival card system lists Taiwan as “China (Taiwan)” in the “point of departure” and “next destination” fields. Taipei has asked Seoul to change the wording. Since March 1, South Koreans who hold government-issued Alien Resident Certificates (ARC) have been identified as from “South Korea” rather than the “Republic of Korea,” the
‘UNFRIENDLY’: Changing the nationality listing of Taiwanese residents to ‘China’ goes against EU foreign policy as well as democratic and human rights principles, MOFA said Taiwan yesterday called on Denmark to correct its designation of the nationality of Taiwanese residents as “China” or face retaliatory measures. The Danish government in 2024 changed the nationality of Taiwanese citizens on their residence permits from “Taiwan” to “China.” The decision goes against EU foreign policy and contravenes democratic and human rights principles, Ministry of Foreign Affairs (MOFA) spokesman Hsiao Kuang-wei (蕭光偉) said. Denmark should present a solution acceptable to Taiwan as soon as possible and correct the erroneous designation to preserve the longstanding friendship between the two nations, Hsiao said. The issue could damage Denmark’s image and business reputation in Taiwan,
SUFFICIENT: The president said Taiwan has enough oil for next month, with reserves covering more than 100 days and natural gas enough for 12 to 14 days A restart plan for the Guosheng Nuclear Power Plant in New Taipei City’s Wanli District (萬里) and the Ma-anshan Nuclear Power Plant in Pingtung County’s Hengchun Township (恆春) would be submitted to the Nuclear Safety Commission by the end of the month, President William Lai (賴清德) said yesterday, reversing the government’s policy to abolish nuclear energy. On May 17 last year, Taiwan shut down its last nuclear reactor and became the first non-nuclear nation in East Asia, fulfilling the Democratic Progressive Party (DPP) government’s pledge of a “nuclear-free homeland.” Even without nuclear power, Taiwan can maintain a stable electricity supply until 2032,
RSS