International Edition

Sunday

December, 4, 2016

Breaking News, World News and Taiwan News.
About Us
Subscribe
Advertise
Contact Us

KMT staff to protest against assets seizure

TAIPEI, Taiwan -- Kuomintang (KMT) employees from seven of the party's northern chapters plan to "take a stroll" in Taipei Tuesday in response to the government's decision to appropriate the party's assets.

According to a United Evening News report, employees will "take a walk" to the headquarters of the Ill-Gotten Party Assets Settlement Committee (IGPASC), a Cabinet-level agency created for the express purpose of liquidating the KMT's assets, after a scheduled briefing at party headquarters on organizational downsizing.

Local chapters participating include: Taipei, New Taipei, Keelung, Yilan, Taoyuan and Hsinchu (city and county).

Meanwhile, a special task force will be formed as soon as this week to decide which government bodies will receive the ill-gotten party assets seized from the KMT, Cabinet spokesman Hsu Kuo-yung confirmed.

The Central Investment Co. and Hsinyutai Co. — investment companies operated by the opposition party — were recently deemed by a Cabinet committee to be ill-gotten assets and thus must be transferred to the state.

The complexities and scope of the firms and their subsidiaries made it necessary for a special, cross-agency task force to examine how the companies would be appropriated, Hsu said at a press conference.

He added that two ministers without portfolio would be appointed by Premier Lin Chuan to head the group. Ministries and agencies involved would include finance, interior, labor, economics, judiciary, development and personnel, among others. The two companies have a combined value of NT$15.6 billion (US$494.17 million) and were determined by the IGPASC last week to be KMT-affiliated organizations.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive our promos
 Respond to this email
MOST POPULAR
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search