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Chen calls for the passage of bill for solving bad debts

President Chen Shui-bian (陳水扁) yesterday urged lawmakers to pass the new resolution trust committee fund regulatory provisions (金融重建基金設置及管理條例) in its current session in a bid to solve local financial institutions' problems with bad debts and improve the nation's overall investment climate.

Chen, in his capacity as chairman of the Democratic Progressive Party (DPP), was speaking at a meeting of the party's Central Standing Committee.

"The passage of the bill depends on whether the bad-debt problems of Taiwan's banking sector can be relieved and whether a financial security network can be built ... This would affect the country's economic revitalization process as well as the investment environment," Chen said.

He said the problems originated with financial institutions and that a sound legal system was necessary for the management of financial structures to ensure a stable investment environment.

The Central Standing Committee yesterday invited Minister of Finance Lin Chuan (林全) and Vice Minister of Education Fan Sun-lu (范巽綠) to report what progress has been made in the current financial and education reforms.

Chen yesterday also commented on the newly crafted education reform goals.

"A total of 115 conclusions have been reached by academics, parents' representatives and education officials. These include closing the gap between the level of education in urban and rural areas, ensuring equal education opportunities, reducing the learning gap between rich and poor and improving the quality of higher education," Chen said.

DPP Deputy Secretary-General Lee Ying-yuan (李應元) said the protest over education reform by the National Teachers' Association for Sep. 28 would not affect the party's 17th anniversary celebrations, which will be held the same day.

"We predict that the protest will not be as vehement as it was last year, as solutions have been implemented for many of the problems they had with education reform," Lee said.
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