The Democratic Progressive Party (DPP) caucus said yesterday it would propose an amendment to the Petroleum Management Law (石油管理法) to restrict and impose taxes on oil product exports.
DPP Legislator Wong Chin-chu (翁金珠) told a press conference that while CPC Corp, Taiwan (台灣中油, CPC) made profits of just NT$15.4 billion (US$510 million) last year, Formosa Petrochemical Corp (台塑石化) made NT$78.5 billion. In the first quarter of this year Formosa has enjoyed a surplus of NT$13 billion, while CPC has incurred losses of more than NT$20 billion.
Wong said she suspected Formosa had profited from exporting oil products.
DPP Legislator Chen Ting-fei (陳亭妃) said statistics showed that while Formosa has exported 63 percent of the petroleum it refines, CPC has only exported 21 percent. Formosa exported 84 percent of the diesel oil it refined, while CPC exported just 29 percent.
Wong said the proposed amendment would restrict oil companies from exporting oil products.
She said the amendment also imposes export taxes on oil products.
The Chinese Nationalist Party (KMT) caucus expressed support.
KMT caucus deputy secretary-general Chang Hsien-yao (張顯耀) said: “We agree to this proposal. After all, Taiwan does not produce oil, but has to rely on imports for all crude oil and gasoline products.”
Additional reporting by Flora Wang
The Ministry of Education (MOE) is to launch a new program to encourage international students to stay in Taiwan and explore job opportunities here after graduation, Deputy Minister of Education Yeh Ping-cheng (葉丙成) said on Friday. The government would provide full scholarships for international students to further their studies for two years in Taiwan, so those who want to pursue a master’s degree can consider applying for the program, he said. The fields included are science, technology, engineering, mathematics, semiconductors and finance, Yeh added. The program, called “Intense 2+2,” would also assist international students who completed the two years of further studies in
Former president Tsai Ing-wen (蔡英文) departed for Europe on Friday night, with planned stops in Lithuania and Denmark. Tsai arrived at Taiwan Taoyuan International Airport on Friday night, but did not speak to reporters before departing. Tsai wrote on social media later that the purpose of the trip was to reaffirm the commitment of Taiwanese to working with democratic allies to promote regional security and stability, upholding freedom and democracy, and defending their homeland. She also expressed hope that through joint efforts, Taiwan and Europe would continue to be partners building up economic resilience on the global stage. The former president was to first
Taiwan will now have four additional national holidays after the Legislative Yuan passed an amendment today, which also made Labor Day a national holiday for all sectors. The Chinese Nationalist Party (KMT) and Taiwan People’s Party (TPP) used their majority in the Legislative Yuan to pass the amendment to the Act on Implementing Memorial Days and State Holidays (紀念日及節日實施辦法), which the parties jointly proposed, in its third and final reading today. The legislature passed the bill to amend the act, which is currently enforced administratively, raising it to the legal level. The new legislation recognizes Confucius’ birthday on Sept. 28, the
MORE NEEDED: Recall drives against legislators in Miaoli’s two districts and Hsinchu’s second district were still a few thousand signatures short of the second-stage threshold Campaigners aiming to recall Chinese Nationalist Party (KMT) legislators yesterday said they expect success in 30 out of 35 districts where drives have passed the second-stage threshold, which would mark a record number of recall votes held at once. Hsinchu County recall campaigners yesterday announced that they reached the second-stage threshold in the recall effort against Legislator Lin Szu-ming (林思銘). A total of 26,414 signatures have been gathered over the past two months, surpassing the 10 percent threshold of 23,287 in Hsinchu County’s second electoral district, chief campaigner Hsieh Ting-ting (謝婷婷) said. “Our target is to gather an additional 1,500 signatures to reach
RSS