The Democratic Progressive Party (DPP) said yesterday it will seek a NT$30 million (US$911,000) bank loan to address its financial deficit.
The party's Central Standing Committee passed a resolution on the matter yesterday.
DPP Chairman Yu Shyi-kun told reporters after the committee meeting yesterday that the party would also raise funds as its finances were in dire straits.
"The financial condition of the party is terrible. We will not be able to cover staffers' paychecks after September. We must take out a loan," he said. "Everyone knows that the DPP does not have party assets. A large part of the expenditures has to be covered by funds raised by party officials."
Yu said the party's revenues this year and last year had been NT$60 million less than in previous years. Part of the reason for this, his said, was his decision, after he became chairman in January last year, to abolish the fund-raising quota by each party official, saying the scheme "could easily be misunderstood as collusion between government officials and business circles."
Yu said raising funds for the party had become even more difficult following last year's anti-President Chen Shui-bian (
"The situation the DPP finds itself in shows that the DPP is a party with integrity," he added.
The party began experiencing financial difficulties toward the end of last year, Yu said.
Last December, the party began planning personnel cutbacks, abolishing 20 percent of the 168 existing positions within the party.
The party also began merging some of its departments and to reorganize its office while not extending a lease of one of the three office floors it occupies.
UNDER WATCH: Taiwan will have to establish a standardized nucleic acid testing method to identify the virus and monitor its spread, the CDC said The Langya henipavirus, which can be transmitted from animals to humans, has been discovered in China, with 35 human infections reported so far, Taiwan’s Centers for Disease Control (CDC) said, adding that the nation would establish a nucleic acid testing method to identify the virus. A study titled “A Zoonotic Henipavirus in Febrile Patients in China” that was published in the New England Journal of Medicine on Thursday said that a new henipavirus associated with a fever-causing human illness was identified in China. The study said an investigation identified 35 patients with acute infection of the Langya henipavirus in China’s Shandong
If any war were to break out between the US and China, one trigger might be the increasingly frequent fighter jet encounters near Taiwan. Almost every day, Taiwanese fighter pilots hop in their US-made F-16s to intercept Chinese warplanes screaming past their territory. The encounters probe the nation’s defenses and force the pilots on both sides to avoid mistakes that could lead to a crisis that spins out of control. “I didn’t know whether they would fire at me,” said retired colonel Mountain Wang, recounting a tense five-minute confrontation he had with Chinese People’s Liberation Army (PLA) jets more than a decade
RESTRICTION EASED: Passengers would no longer be directed to designated waiting areas, and be allowed to shop and dine, the operator of the airport said International travelers transiting at Taiwan Taoyuan International Airport would from today be allowed to go shopping and dine in the airport’s departure areas, the airport operator said, as the Central Epidemic Command Center (CECC) eased some border restrictions imposed to contain the spread of COVID-19. Taoyuan International Airport Corp said reopening borders is a global trend, and since reallowing transit passengers from June 15, the airport has continued to review its procedures to improve services and efficiency. Deputy Minister of Health and Welfare Victor Wang (王必勝), who heads the CECC, inspected the airport on July 22, while Deputy Minister of Transportation and
BLOCKADE RUNNERS: The military should prepare to cope with a possible blockade of Taiwan, and the latest drills give China a new basis for exercises, security experts said Taiwan should pay close attention to whether China will normalize military drills around the nation, experts said yesterday, adding that the military must devise coping strategies. China from Thursday to yesterday conducted its largest-ever military exercises around Taiwan in retaliation for a visit last week by US House of Representatives Speaker Nancy Pelosi, who is the highest-ranking US official to visit Taiwan in 25 years. Although the nation’s armed forces have won public support by condemning the Chinese People’s Liberation Army (PLA) for bullying Taiwan, the military should bolster its capabilities, Institute of National Defense and Security Research research fellow Su Tzu-yun