At Thursday's weekly Cabinet meeting, Premier Cho Jung-tai was briefed by the Ministry of Economic Affairs, Ministry of Transportation and Communications and Ministry of Agriculture on the government's response to the ongoing developments in the Middle East. The premier said that the government will roll out three measures to ease the pressure on industries and address livelihood needs: freezing the prices of essential goods, providing financial assistance to transport operators and supporting the fishery industry.
Premier Cho noted that domestic oil reserves remain at safe levels and that natural gas supplies are secure through June, with the government continuing stabilization measures to keep Taiwan's fuel prices the lowest among neighboring countries.
For the prices of essential goods, alongside the previously announced electricity rate freeze, the prices of residential natural gas and liquefied petroleum gas (LPG) will also be frozen in May. In the transportation sector, fuel relief measures for taxi drivers will be launched on May 20. Furthermore, fares for intercity buses and domestic flights will be capped for three months, with the government covering any resulting cost gaps. For domestic maritime passenger services, vessel carriers will be eligible for a range of subsidy programs for three months, depending on whether their routes are short- or long-distance.
To support the fishery industry, the government will introduce two options for distant water fishing operators: either operational subsidies of NT$1.2 million to NT$3.5 million (approximately US$38,000 to US$111,000) per vessel, or port docking and replenishment subsidies of NT$800,000 to NT$2 million (approx. US$25,000 to US$63,000) per vessel. Operators may apply for one of the two options.
The premier stated that his administrative team will continue to closely monitor developments in the Middle East, implement price stabilization mechanisms with the utmost rigor, and strengthen response measures in a timely manner to stabilize prices and safeguard livelihoods, thereby minimizing the impact of the international situation on the public.