Premier directs MOEA to secure gas supplies amid Middle East tensions

Taipei, March 12 (CNA) Premier Cho Jung-tai (卓榮泰) on Thursday instructed the Ministry of Economic Affairs (MOEA) to secure natural gas supplies for May and increase imports from the United States in June, aiming to ensure stable energy supply amid ongoing conflict in the Middle East.

Citing Cho, spokesperson Michelle Lee (李慧芝) said after a Cabinet meeting that the government has already secured sufficient natural gas supplies for March and April and is preparing additional measures to maintain stable supply in the coming two months.

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Lee added that the premier also urged the Ministry of Agriculture to secure fertilizer supplies, monitor shipping costs, and continue fuel subsidies for farmers and fishers.

He called on the government to track consumer goods prices across agencies, promptly report any unusual spikes, and take action to prevent price gouging.

The meeting earlier Thursday was attended by officials from the Ministry of Foreign Affairs (MOFA), MOEA and Financial Supervisory Commission (FSC) to report on responses to the situation in the Middle East.

Despite recent stock market volatility, Taiwan's financial fundamentals remain stable so far in March, with company revenues showing solid growth compared with the same period last year, the FSC said.

Meanwhile, MOFA said it continues to monitor the situation in the Middle East and urged citizens traveling abroad to stay informed and take necessary precautions.

In terms of price stabilization, the MOEA said the government has instructed state-run CPC Corp., Taiwan to absorb at least 60 percent of oil price increases and is lowering the commodity tax on gasoline and diesel to NT$3.415 and NT$1.995 per liter, respectively.