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Premier seeks broad support for economic revival plan

2012/09/22 18:41:50

Taipei, Sept. 22 (CNA) Premier Sean Chen called for broad support for his economic revival program on Saturday, saying that it lays out detailed strategies for fixing the economy but would require the backing of the Legislative Yuan in order to succeed.

The main issues are a problematic economic structure and the fact that Taiwan has been unable to gain access to the international economic and trade system, Chen said at the Legislative Yuan after a no-confidence motion against him was defeated.

The premier said the economic revival program he proposed last week gives detailed measures to boost Taiwan's economy and fix the problems that are hampering the country's development.

"We need your support. We need everyone's support," Chen told lawmakers after the no-confidence motion, brought by the opposition Democratic Progressive Party and Taiwan Solidarity Union caucuses, was voted down 66-46 in the 113-seat Legislature.

He thanked the lawmakers of the ruling Kuomintang, who hold a 64-seat majority in the legislature, for voting against the no-confidence motion.

Chen said Taiwan, an export-oriented country, has some serious economic problems that the Cabinet would like to resolve as soon as possible. But to achieve that goal, the Cabinet would need the Legislature's support, he added.

In a Cabinet statement released after the vote, Chen said the economic revival program includes plans to channel capital to strategic service sectors and speed up major infrastructure projects such as the Taoyuan Aerotropolis in northern Taiwan and port expansion in Keelung and Kaohsiung.

The Cabinet is also drafting measures to attract talent and more Taiwanese and foreign investment, he said.

In the statement, Chen said the government has decided to postpone the second phase of an electricity rate hike from December this year to Oct. 1, 2013.

After the increase is implemented, Taiwan Power Co., which is operating at a huge deficit, will be required to improve its efficiency and to introduce a floating electricity rate system that would reflect fuel costs, he said.

The premier has been invited to deliver an administrative report to the legislature Sept. 28.

(By Tseng Ying-yu, Chen Ting-wei, Chen Shun-hsien, Justin Su and Elizabeth Hsu)