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CABINET PASSES US$18.23 B. SPECIAL BUDGET FOR MAJOR ARMS PROCUREMENT

2004-06-02 19:19:24

    Taipei, June 2 (CNA) The Executive Yuan has passed a special budget of NT$610.8 billion (US$18.23 billion) for major military procurement to strengthen anti-missile defense and sea-control capability, a spokesman of the Executive Yuan said Wednesday.

    Chen Chi-mai made the remarks after the Executive Yuan passed major military procurement regulations and a major military procurement budget proposal, which will now be sent to the Legislative Yuan for review.

    According to the budget appropriation for the special budget, the army will appropriate NT$144.92 billion to buy Patriot PAC-3 missile systems, the navy will appropriate NT$412.13 billion to buy diesel-powered submarines and the air force will get NT$53.04 billion to buy anti-submarine planes.

    Chen noted that the money to finance the special budget will come from NT$94 billion through the release of shares of state-owned enterprises, NT$100 billion from the selling of state-owned land, and the raising of the national debt of NT$420 billion.

    Premier Yu Shyi-kun instructed related government officials during the Executive Yuan floor meeting that they must step up communications with the Legislative Yuan to solicit the support of the legislators, according to Chen.

    Chen said that with mainland China's military expenditure increasing every year, the Executive Yuan has decided to appropriate the special budget so as to strengthen the nation's defense capability.

(By Lilian Wu)

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