Taipei, Dec. 21 -- Taiwan's main opposition parties, the Kuomintang (KMT) and the Taiwan People's Party (TPP), stated they would seek to impeach Taiwanese President Lai Ching-te, accusing him of engaging in what they described as "undemocratic" conduct, even as legal and political hurdles make the move largely symbolic, Focus Taiwan reported.

According to Focus Taiwan, the announcement made on Friday follows President Lai's decision not to promulgate a recently passed amendment that would have increased the share of central government revenues allocated to local governments. Lai argued that the legislation would undermine Taiwan's fiscal stability.

Earlier the same day, Premier Cho Jung-tai declined to countersign the bill, which the pr...