Minister of Economic Affairs Shen Jong-chin talks to reporters in Taipei yesterday about the economic effects of the COVID-19 outbreak and government countermeasures. Photo: Lin Ching-hua, Taipei TimesThe ministry would seek opinions and suggestions across these industries to devise a plan to assist businesses facing challenges, he said. The ministry would closely monitor the effects of fluctuating oil prices on Taiwanese industries, he added. With oil prices falling, some hope the ministry would freeze electricity prices at the electricity price review committee meeting next week. Meanwhile, state-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) might adjust downward its weekly prices for domestic gasoline and diesel products by between NT$3.6 and NT$3.8 next week, which would be the largest cut in history based on CPC's floating oil price formula.

Source: Taipei Times March 11, 2020 15:56 UTC