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Amid tensions and war in the Middle East, the Executive Yuan has activated three mechanisms to keep prices stable. With the supervision of the Ministry of Economic Affairs, the CPC Corporation and Formosa Plastics are ensuring crude oil reserves remain above 140 days, while also boosting plastic bag production by 1.25 billion units every month.

Tsou Yu-hsin
Industrial Development Administration
Gas supplies have been secured for April and May, and liquefied natural gas carriers confirmed. For June, procurement is nearly complete. For that month, 94% will be covered through spot purchases. The main sources are the US and Australia, which account for 51% of the total.

Yeh Chun-hsien
National Development Council
The CPC Corporation’s naphtha cracker No. 4 began early operations on April 1, allowing for an additional 19,000 tons of ethylene production in April. Combined with Formosa Plastics’ output, total ethylene production in April will reach 169,000 tons, enough to meet domestic demand. CPC is also supplying 5,000 tons of ethylene at discounted prices to Formosa Plastics for the production of affordable polyethylene.

The government has pledged that utility prices affecting daily life such as electricity and natural gas will not increase in April. Meanwhile, the Ministry of Health and Welfare has set up a single service window for medical supplies, while the Ministry of Justice has formed a joint inspection task force to crack down on illegal price gouging and hoarding. Through coordinated inter-ministerial action, the government aims to prevent the any impact on cost of living.

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