An investigation by the Fair Trade Commission (FTC) into price increases of 23 consumer products has “missed the point,” because Taiwan Power Co (Taipower) and CPC Corp, Taiwan were the real catalysts behind the price hikes, the Taiwan Solidarity Union (TSU) said yesterday.
“What the commission should do is investigate the two state-run companies, which announced a 10.7 percent increase in [-petroleum-based] fuel prices on April 1 and a planned electricity price rise beginning on May 15,” TSU party whip Hsu Chung-hsin (許忠信) told a press conference.
The recent price increases of various products and services were “by-products” of the fuel and electricity price rises because manufacturers, store owners and service providers need to cope with rising costs, he said.
The commission announced on Wednesday it had launched an investigation into the prices of 23 products, including milk powder, beverages, sugar, petrochemical products, gasoline, automobiles, instant noodles, pork, chicken, eggs, shampoo and alcohol, to monitor potential price-fixing.
Despite Taiwan’s oligopoly oil market, Hsu added, the commission said it was not illegal for privately owned Formosa Petrochemical Corp to follow up with similar increases and there was no concerted price--fixing between the two companies.
Taipower is the sole electricity provider in Taiwan, he added.
“We cannot agree with the findings of the commission’s investigation, which is an impediment to free competition, and we call on the commission to investigate Taipower and CPC’s price cartel,” he said.
Hsu said the TSU demanded the commission complete investigation of the two companies before the end of June.
If the commission could fine local convenience stores for fixing the price of coffee last year and natural gas providers this year, TSU legislator Huang Wen-ling (黃文玲) said she did not know how it could ignore the two companies’ abuse of their monopolies.
A fugitive in a suspected cosmetic surgery fraud case today returned to Taiwan from Canada, after being wanted for six years. Internet celebrity Su Chen-tuan (蘇陳端), known as Lady Nai Nai (貴婦奈奈), and her former boyfriend, plastic surgeon Paul Huang (黃博健), allegedly defrauded clients and friends of about NT$1 billion (US$30.66 million). Su was put on a wanted list in 2019 when she lived in Toronto, Canada, after failing to respond to subpoenas and arrest warrants from the Taipei District Prosecutors’ Office. Su arrived at Taiwan Taoyuan International Airport at 5am today on an EVA Air flight accompanied by a
COVID-19 infections have climbed for three consecutive weeks and are likely to reach another peak between next month and June, the Centers for Disease Control (CDC) said yesterday. Weekly hospital visits for the disease increased by 19 percent from the previous week, CDC Epidemic Intelligence Center Director Guo Hung-wei (郭宏偉) said. From Tuesday last week to yesterday, 21 cases of severe COVID-19 and seven deaths were confirmed, and from Sept. 1 last year to yesterday, there were 600 cases and 129 deaths, he said. From Oct. 1 last year to yesterday, 95.9 percent of the severe cases and 96.7 percent of the deaths
Restarting the No. 2 reactor at the Ma-anshan Nuclear Power Plant would take up to 18 months, Minister of Economic Affairs J.W. Kuo (郭智輝) said today. Kuo was answering questions during a meeting of the Legislative Yuan’s Economics Committee, where legislators are considering amendments to the Renewable Energy Development Act (再生能源發展條) amid concerns about the consequences of the Pingtung County reactor’s decommissioning scheduled for May 17. Its decommissioning is to mark the end of Taiwan’s nuclear power production. However, Chinese Nationalist Party (KMT) lawmakers have proposed an amendment to the Nuclear Reactor Facilities Regulation Act (核子反應器設施管制法) that would extend the life of existing
The Ministry of Foreign Affairs yesterday demanded that Somalia reverse its decision prohibiting Taiwanese passport holders from entering or transiting through the country. Somalia said it is following the “one China” principle based on UN Resolution 2758. The ministry said that Somalia is misinterpreting the resolution under China’s instigation, creating a false impression that Taiwan is subordinate to China. The Somali Civil Aviation Authority told airlines on Tuesday last week that starting today, any passengers with passports or travel documents issued from Taiwan or its affiliated institutions would not be allowed to enter or transit through Somalia. The decision comes as Taiwan is boosting
RSS