KMT pleads poverty over annual bonuses

By Mo Yan-chih  /  STAFF REPORTER

Wed, Jan 25, 2006 - Page 3

The Chinese Nationalist Party (KMT) yesterday said that it was in extreme financial trouble and will not pay year-end bonuses to party workers.

"We are in really bad shape. A lot of party workers will retire on Feb. 28, and that will cost us over NT$2 billion (US$62.5 million)... It is difficult for the party to offer a year-end bonus," said KMT Chairman Ma Ying-jeou (馬英九) yesterday morning after presiding over a municipal meeting as Taipei mayor.

The party gave a one-month bonus to all 1,300 party workers last year, which translated to about NT$80 million in total.

Meanwhile, party workers lashed out at the KMT for failing to offer a bonus while collecting about NT$14 billion from the sale of party assets.

The KMT sold the Institute of Policy Research and Development, Chunghua Open Hospital and three media outlets last year. While this generated over NT$14 billion, KMT Spokeswoman Cheng Li-wen (鄭麗文) said the profits will hardly cover the party's expenses.