Chairmen and top executives of Veterans Affairs Council (VAC) natural gas reinvestment businesses have drawn NT$2 million to NT$3 million (US$63,763 to US$95,645) annual salaries, despite none of the 15 entities showing a profit that would have required them to deposit into a provident fund, a report by the Legislative Yuan’s Budget Center said.
Article 12 of the Privately Owned Public Utilities Supervisory Act (民營公用事業監督條例) stipulates that when “the net income of privately owned public utilities exceeds 25 percent of the total paid-in capital, half of such excess amount shall be used for the betterment and expansion of the equipment, while the remaining half shall be the users’ provident fund in the event of a fee-reduction.”
Data provided by the council showed that of the 15 businesses, six chairmen and five chief executives are retired military officials.
Amid accusations that the firms are haboring “fat cats,” questions have been raised over whether the top-tier salaries are linked to performance and whether they are affecting profits.
Council Deputy Director Lee Wen-chung (李文忠) said the profitability of the natural gas reinvestment companies is higher than the reinvestment businesses of other government agencies and private natural gas companies, but the expenses have increased due to renovations and upgrades to pipelines, while natural gas prices have decreased greatly in the past few years.
Democratic Progressive Party Legislator Wang Ting-yu (王定宇) said the council should put in place performance evaluation criteria for top executives to counter the appearance that the appointments are political rewards.
New Power Party Legislator Freddy Lim (林昶佐) said the council should undertake a review examining the qualifications of the executives.
Lee said the council is working on a performance evaluation system that would limit the term of a top executive director to three years and only those who score more than 90 points on a 100-point yearly evaluation could extend their terms.
LOOKING NORTH: The base would enhance the military’s awareness of activities in the Bashi Channel, which China Coast Guard ships have been frequenting, an expert said The Philippine Navy on Thursday last week inaugurated a forward operating base in the country’s northern most province of Batanes, which at 185km from Taiwan would be strategically important in a military conflict in the Taiwan Strait. The Philippine Daily Inquirer quoted Northern Luzon Command Commander Lieutenant General Fernyl Buca as saying that the base in Mahatao would bolster the country’s northern defenses and response capabilities. The base is also a response to the “irregular presence this month of armed” of China Coast Guard vessels frequenting the Bashi Channel in the Luzon Strait just south of Taiwan, the paper reported, citing a
Three batches of banana sauce imported from the Philippines were intercepted at the border after they were found to contain the banned industrial dye Orange G, the Food and Drug Administration (FDA) said yesterday. From today through Sept. 2 next year, all seasoning sauces from the Philippines are to be subject to the FDA’s strictest border inspection, meaning 100 percent testing for illegal dyes before entry is allowed, it said in a statement. Orange G is an industrial coloring agent that is not permitted for food use in Taiwan or internationally, said Cheng Wei-chih (鄭維智), head of the FDA’s Northern Center for
A total lunar eclipse, an astronomical event often referred to as a “blood moon,” would be visible to sky watchers in Taiwan starting just before midnight on Sunday night, the Taipei Astronomical Museum said. The phenomenon is also called “blood moon” due to the reddish-orange hue it takes on as the Earth passes directly between the sun and the moon, completely blocking direct sunlight from reaching the lunar surface. The only light is refracted by the Earth’s atmosphere, and its red wavelengths are bent toward the moon, illuminating it in a dramatic crimson light. Describing the event as the most important astronomical phenomenon
UNDER PRESSURE: The report cited numerous events that have happened this year to show increased coercion from China, such as military drills and legal threats The Chinese Communist Party (CCP) aims to reinforce its “one China” principle and the idea that Taiwan belongs to the People’s Republic of China by hosting celebratory events this year for the 80th anniversary of the end of World War II, the “retrocession” of Taiwan and the establishment of the UN, the Mainland Affairs Council (MAC) said in its latest report to the Legislative Yuan. Taking advantage of the significant anniversaries, Chinese officials are attempting to assert China’s sovereignty over Taiwan through interviews with international news media and cross-strait exchange events, the report said. Beijing intends to reinforce its “one China” principle