A government unit that manages public shareholding has formulated regulations to cap monthly salaries for heads of government-owned or partially state-funded financial institutions at NT$320,000.
The cap was calculated by doubling the monthly salary of NT$160,000 received by Susan Chang (張秀蓮), chairwoman of the government-owned Taiwan Financial Holding Co, the nation’s largest financial services provider.
The Executive Yuan’s Government Shareholding Management and Supervisory Unit passed the regulations on Wednesday after it was revealed that Taiwan Asset Management Corp (Tamco) chairman Chen Song-chu (陳松柱), allegedly lined his own pockets with company profits.
Chen was paid NT$400,000 a month, with an additional NT$150,000 in monthly public relations fees, far more than the NT$180,000 received by Minister of Finance Lee Sush-der (李述德), local media reports said.
The Tamco chairman reportedly distributed about NT$80 million (US$2.5 million) in corporate profits to 59 senior executives, including NT$20 million for himself and NT$10 million for a former company president.
The new regulations will apply to the chairmen and presidents of 108 government-owned or partially state-funded enterprises who are appointed or recommended for the position by the Ministry of Finance.
According to the regulations, those who are appointed or recommended by the ministry to serve as chairmen or presidents cannot receive a monthly salary that is more than double that of their counterparts in other state-run companies of about the same size, the same level and in the same field.
Salaries in excess of that will be taken into the national coffers or recouped by the companies, the regulations said.
Total variable income, such as performance rewards and other bonuses, for company heads should not exceed the total fixed income, the new regulations said.
In addition, there will be a cap of NT$200,000 on total performance bonuses, they said.
Meanwhile, the Cabinet yesterday approved an affordable housing project near the Taiwan Taoyuan International Airport MRT system’s Linkou (林口) station in Taipei County, with the price expected to be as low as NT$150,000 (US$4,695) per ping, an official said yesterday.
Lin Tsyr-ling (林慈玲), a deputy minister with the Ministry of the Interior, said the government might build more affordable housing on the outskirts of Taipei if the project is a success.
Construction is expected to be completed by 2013 to coincide with the opening of the MRT line. Under the proposal, the government will purchase 226.78 hectares of land from private land owners to build 4,000 units of affordable housing in the area where elementary and junior high schools and industry zones will be built.
Lin said the affordable houses would be restricted to certain income levels.
NATIONAL SECURITY: Authorities are working to confirm the identities of the military personnel involved and investigating possible illegal conduct and regulatory violations Authorities are probing possible national security implications after Kinmen police and immigration officers on Sunday found a Chinese woman allegedly posing as a tourist while engaging in prostitution involving more than 10 military personnel. The woman, surnamed Chen (陳), has since been deported, authorities said, adding that investigators are still working to confirm the identities of those implicated, as the records only listed code names and aliases. The case stemmed from a report received by the Kinmen District Prosecutors’ Office on Friday last week from the Jinhu Precinct of the Kinmen County Police Bureau. On Sunday, police, along with the National Immigration
STAY COOL: The HPA recommended that people stay hydrated, use air-conditioning or fans while indoors, wear loose-fitting clothes and walk in the shade while outdoors Employers must implement measures such as installing cooling equipment, and providing drinking water and rest breaks for outdoor workers starting from Monday next week, the Taipei Department of Labor said on Sunday. Employers who fail to comply could face fines of NT$30,000 to NT$300,000 under the Occupational Safety and Health Act (職業安全衛生法), the department said. Businesses in Taipei employing fewer than 100 workers, as well as registered self-employed workers with labor insurance coverage, could receive on-site assessments and guidance from occupational safety consultants to help them apply for central government subsidies to implement or improve heat-protection measures, it said. Under the Ministry of
GLOBALGIVING: ‘ Caving to external pressure is not acceptable for an organization that has cultivated justice reform and human rights for 30 years,’ one NGO said A slew of non-government organizations (NGOs) have withdrawn from the GlobalGiving fundraising platform after it announced it would use “Chinese Taipei” instead of “Taiwan” from next month. The Taiwan Good Rice Association wrote on Facebook on Friday that it was informed on April 28 via a teleconference call of the change, which was made because the platform wanted to operate in China. Taiwan Good Rice is to terminate all cooperative relationships with GlobalGiving in response to the platform’s “unilateral and non-negotiable” decision to remove references to Taiwan, the NGO said. “Taiwan is in the official name of Taiwan Good Rice Association and the
Chinese Nationalist Party (KMT) Chairwoman Cheng Li-wun (鄭麗文) yesterday briefed her party’s Central Standing Committee regarding her scheduled visit to the US between Monday next week and June 16, saying that her purpose would be to persuade the US that the Republic of China (ROC) Constitution was a “one China” constitution that would foster stable and peaceful cross-strait relations. The ROC Constitution is the most important defense for all Taiwanese citizens, as it upholds our democracy and has contributed to our robust economy, which aligns with international and US interests, she said. “We would not be troublemakers and drag the US under,”
RSS