Industry, commercial groups issue warning for greater labor bonuses
Legislative Yuan Speaker Wang Jin- pyng ( ) yesterday met with a delegation of representatives from local industrial and commercial organizations, who told the speaker that they hope for a more careful consideration in the amendment of the Labor Standards Act ( ).
The representatives, who consist of local industrial and commercial organization leaders such as the Chinese National Federation of Industries (CNFI, ) Chairman Rock Hsu ( ) and Chinese National Association of Industry and Commerce ( ) Chairman Lin Por- fong (
) , reportedly told Wang that the amendment of articles 29 and 79 of the act would likely cause a negative impact on the economy and discourage foreign investments.
The amendment of the articles serves as part of the reform program that seeks to increase the income of the nation’s grassroots demographic. Specifically, the correction of the articles would tackle current policies that govern the distribution of bonuses from within a company.
The meeting with Wang marked yet another attempt from local industrial and commercial organizations to speak out against the Kuomintang’s proposed salary increase programs. Aside from meeting with Wang, the delegation will also meet with Premier Mao Chihkuo ( ) today to talk about their evaluated ramifications should the amendment pass without deeper consideration.
In a post-meeting statement, Secretary-General of the CNFI Tsai Lien- sheng ( ) said that Wang had said he understood the delegation’s concerns, and he would make sure that consideration would be brought up and discussed before the amendment undergoes its second and third readings.
Tsai also elaborated that the local companies are not against increasing wages and decreasing the number of work hours, but are only opposed to their rights to bonus distribution being violated. Tsai that premium distribution is the right of a company’s board of directors, and that the creation of a standard would influence the investment direction of a company.
Tsai went on to say that the amendment will not work, and it is also unheard of in the world, since it would likely effect foreign investments in a negative way.