21 August 2002 – Taiwan is to speed up the privatization of government-owned companies following a decision by the privatization promotion and supervision committee, according to a report in the Commercial Times.

The privatization of Chinese Petroleum Corp. will be pushed forward by one year to the end of 2003, and that of Taiwan Power Co. will be pushed forward by two years to the end of 2005, the paper said.

The Taiwan Power Company is 97.2 per cent government-owned with assets of NT$1185.6bn ($34.87bn). It has installed capacity of 30 570 MW.

Taiwan Tobacco & Liquor Corp. will also be privatized by July 2004, according to the paper.