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.
A Chinese aircraft carrier group entered Japan’s economic waters over the weekend, before exiting to conduct drills involving fighter jets, the Japanese Ministry of Defense said yesterday. The Liaoning aircraft carrier, two missile destroyers and one fast combat supply ship sailed about 300km southwest of Japan’s easternmost island of Minamitori on Saturday, a ministry statement said. It was the first time a Chinese aircraft carrier had entered that part of Japan’s exclusive economic zone (EEZ), a ministry spokesman said. “We think the Chinese military is trying to improve its operational capability and ability to conduct operations in distant areas,” the spokesman said. China’s growing
Taiwan yesterday denied Chinese allegations that its military was behind a cyberattack on a technology company in Guangzhou, after city authorities issued warrants for 20 suspects. The Guangzhou Municipal Public Security Bureau earlier yesterday issued warrants for 20 people it identified as members of the Information, Communications and Electronic Force Command (ICEFCOM). The bureau alleged they were behind a May 20 cyberattack targeting the backend system of a self-service facility at the company. “ICEFCOM, under Taiwan’s ruling Democratic Progressive Party, directed the illegal attack,” the warrant says. The bureau placed a bounty of 10,000 yuan (US$1,392) on each of the 20 people named in
Nine retired generals from Taiwan, Japan and the US have been invited to participate in a tabletop exercise hosted by the Taipei School of Economics and Political Science Foundation tomorrow and Wednesday that simulates a potential Chinese invasion of Taiwan in 2030, the foundation said yesterday. The five retired Taiwanese generals would include retired admiral Lee Hsi-min (李喜明), joined by retired US Navy admiral Michael Mullen and former chief of staff of the Japan Self-Defense Forces general Shigeru Iwasaki, it said. The simulation aims to offer strategic insights into regional security and peace in the Taiwan Strait, it added. Foundation chair Huang Huang-hsiung
PUBLIC WARNING: The two students had been tricked into going to Hong Kong for a ‘high-paying’ job, which sent them to a scam center in Cambodia Police warned the public not to trust job advertisements touting high pay abroad following the return of two college students over the weekend who had been trafficked and forced to work at a cyberscam center in Cambodia. The two victims, surnamed Lee (李), 18, and Lin (林), 19, were interviewed by police after landing in Taiwan on Saturday. Taichung’s Chingshui Police Precinct said in a statement yesterday that the two students are good friends, and Lin had suspended her studies after seeing the ad promising good pay to work in Hong Kong. Lee’s grandfather on Thursday reported to police that Lee had sent
RSS