DPP lawmakers yesterday accused the KMT of stealing more than US$100 million in US economic aid in the 1970s and channeling the money to its party-owned business empire.
As part of the DPP's continuing campaign to shed light on KMT assets which the opposition party alleges were obtained illegally, DPP lawmaker Cheng Pao-chin (鄭寶清), who leads a task force called the KMT Assets Reclaiming Agency, made public a finance ministry document from 1976 to support his accusation that the KMT had misappropriated aid money.
"The Bankers Trust International Limited based in the US loaned Taiwan's government US$100 million at a low interest rate -- 1.75 percent -- to be used in assisting state-run businesses," Cheng said.
PHOTO: CHIANG YING-YING, TAIPEI TIMES
"But the KMT took that money and invested it in party-run businesses, including the China Development Corp [now China Development Bank, CDB], the Broadcasting Cooperation of China [BCC], and China Airlines [CAL]," he said.
According to other documents that Cheng revealed yesterday, the KMT took US$86.1 million from the 1976 aid package -- which included the low-interest loan -- and invested it in CAL.
Some of the documents were signed off by former Minister of Finance Fei Hua (
Cheng appealed to the government to take back ownership of CAL and list it as a state-run business.
DPP lawmaker Yeh Yi-chin (
"We can see from those documents that China Development Corp had already taken about US$20 million as of Dec. 31, 1976. We want to ask whether the KMT has returned that money, and why the government has to borrow money to help the KMT's party-run businesses," Yeh said.
Meanwhile, 126 lawmakers, including 34 KMT legislators, 68 from the DPP, 10 from the New Party, and 13 independents, signed a petition demanding that the KMT make public its assets before the March presidential election.
DPP lawmaker Trong Chai (
"Especially those assets taken from the Japanese government after Japan ended its rule over Taiwan should be returned to the people," Chai said.
KMT lawmaker and party official Chen Hung-chi (
"We certainly plan to make public our assets. And we will accomplish it as soon as possible because we do underestimate people's expectations," Chen said.
ANNOUNCEMENT: People who do not comply with the ban after a spoken warning would be reported to the police, the airport company said on Friday Taoyuan International Airport Corp on Friday announced that riding on vehicles, including scooter-suitcases (also known as “scootcases”), bicycles, scooters and skateboards, is prohibited in the airport’s terminals. Those using such vehicles should manually pull them or place them on luggage trolleys, the company said in a Facebook post. The ban intends to maintain order and protect travelers’ safety, as the airport often sees large crowds of people, it said, adding that it has stepped up publicity for the regulation, and those who do not comply after a spoken warning would be reported to the police. The company yesterday said that
NEW YEAR’S ADDRESS: ‘No matter what threats and challenges Taiwan faces, democracy is the only path,’ William Lai said, urging progress ‘without looking back’ President William Lai (賴清德) yesterday urged parties across the political divide to democratically resolve conflicts that have plagued domestic politics within Taiwan’s constitutional system. In his first New Year’s Day address since becoming president on May 20 last year, Lai touched on several issues, including economic and security challenges, but a key emphasis was on the partisan wrangling that has characterized his first seven months in office. Taiwan has transformed from authoritarianism into today’s democracy and that democracy is the future, Lai said. “No matter what threats and challenges Taiwan faces, democracy is the only path for Taiwan,” he said. “The only choice
QUIET START: Nearly a week after applications opened, agencies did not announce or promote the program, nor did they explain how it differed from other visitor visas Taiwan has launched a six-month “digital nomad visitor visa” program for foreign nationals from its list of visa-exempt countries who meet financial eligibility criteria and provide proof of work contracts. To apply, foreign nationals must either provide proof that they have obtained a digital nomad visa issued by another country or demonstrate earnings based on age brackets, the Bureau of Consular Affairs said. Applicants aged 20 to 29 must show they earned an annual salary of at least US$20,000 or its equivalent in one of the past two years, while those aged 30 or older must provide proof they earned US$40,000 in
TECH CORRIDOR: Technology centers and science parks in the south would be linked, bolstering the AI, semiconductor, biotech, drone, space and smart agriculture industries The Executive Yuan yesterday approved a “Southern Silicon Valley” project to promote the development of an artificial intelligence (AI) and semiconductor industry in Chiayi County, Tainan, Pingtung County and Kaohsiung. The plan would build an integrated “S-shaped semiconductor industry corridor” that links technology centers and science parks in the south, Executive Yuan spokesperson Michelle Lee (李慧芝) said yesterday after a Cabinet meeting. The project would bolster the AI, semiconductor, biotech, drone, space and smart agriculture industries, she said. The proposed tech corridor would be supported by government efforts to furnish computing power, workforce, supply chains and policy measures that encourage application and integration
RSS