Wed, Sep 18, 2002 page3

• DPP says its assets are worth only NT$372 million

  • By Lin Mei-chun / STAFF REPORTER
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  The value of the DPP's assets currently totals NT$372 million (US$10.9 million), according to a report released by the party yesterday. This figure is made up of NT$226 million in assets and real estate valued at NT$146 million, the report says.

  Such assets are a far cry from those of the KMT, which is one of the wealthiest parties in the world.

  According to a KMT report released last month, it has NT$53.7 billion (US$1.62 billion) in bank savings, fixed deposits, securities, government bonds, businesses and real-estate holdings.

  The DPP's NT$226 million in current assets includes bank savings, foreign currency, securities and funds.

  In regard to real estate, the DPP owns one residence and 24 plots of land, most of which are the plots on which the party's regional branch offices stand.

  The party also has 6,272 shares of stock from state-run Taiwan Sugar Corp (台糖), of which the face value is NT$10 dollar per share. The stocks were a gift from supporters in 1993.

  The DPP has slowly grown from the shaky financial condition that it was in when it was established in 1986. Donations have been its main source of income.

  As an opposition party, the party has traditionally been composed of mostly political dissidents, workers and oppressed groups.

  The situation was slightly relieved in 1997, when the regulations for party funding were passed.

  The regulations state that a party can be subsidized NT$50 per year for each vote it gets in the last election held, if the party obtained more than 5 percent of the total votes cast in that election.

  Also yesterday, the DPP reached consensus regarding how to deal with the assets of "certain parties" -- referring to the KMT -- which were obtained illegally.

  Chang Chun-hsiung (張俊雄), the DPP's secretary general, said the purpose of pushing for a clear account of the KMT's assets, is to apply justice to historic wrongdoings.

  "Historic wrongs can be forgiven, but should not be forgotten. Therefore, investigations have to be launched into certain parties' assets to see which of it had been obtained unlawfully during the authoritarian era. This will show the public the truth of what really happened," Chang said.

  The secretary general added that such investigations will be based on fairness and will be conducted in a transparent manner -- and all political parties, including the DPP, should honestly declare their assets in accordance with the law.

  DPP officials urged lawmakers across party lines to support the draft of the Political Party Law (政黨法), which would ban political parties from operating or investing in profit-making enterprises.

  They also urged support for the statute regarding the disposition of assets improperly obtained by political parties (政黨不當取得財產處理條例) which would empower the government to investigate and confiscate assets that have been unlawfully obtained by political parties.

  These two bodies of legislation would be reviewed at the upcoming legislative session.
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