-
Taiwan’s 2025 budget includes NT$100 billion for Taipower
Discover the details of Taiwan’s 2025 central government budget, approved by the Executive Yuan and now under Legislative Yuan review. Learn about the NT$100 billion allocation to Taipower, the NT$130 billion for labor insurance, and plans for a NT$33.6 billion health insurance financial assistance. Explore how the NT$3.15 trillion budget aims to balance infrastructure, innovation, and social security, with a focus on post-pandemic recovery and future investments.
2024/08/22 21:00
-
Taipower at risk of financial crisis without government aid
Taiwan Power Co. (Taipower) faces a potential financial crisis by year-end without government aid or electricity price hikes, warned Minister of Economic Affairs Wang Mei-hua. An upcoming electricity price review may see rates for ultra-high-voltage users surge by over 10%. Wang emphasizes the need for discussion in the committee meeting and assures efforts to minimize impacts on the public. Taipower’s efficient management has helped curb price spikes and inflation, with plans in place for financial support and program development. Current electricity costs for major consumers stand at around NT$1.63, while Taipower’s generation cost, pre-tax, is NT$3.93, expected to surpass NT$4 post-tax.
2024/02/20 13:10
-
Taipei boosts lunch aid for needy students amid price hikes
Taipei City Government to increase lunch subsidies for underprivileged high school and vocational students from NT$55 to NT$65 per day in response to rising prices. The expanded subsidy scope now includes first- to third-year specialist college students. Approximately 17,500 students are expected to benefit from this program, with a budget of NT$8.5 million allocated for lunch expenses.
2024/02/15 13:37
-
Taiwan’s MOEA to aid Taipower’s budget crisis
The Minister of Economic Affairs, Wang Mei-hua, plans to help Taiwan Power Company (Taipower) seek budgetary support from the Executive Yuan to alleviate its financial distress. Taipower reached out to the Ministry of Economic Affairs (MOEA) for assistance, citing escalating international fuel prices caused by the Russia-Ukraine war. Other global power companies, such as Korea Electric Power Corporation (KEPCO), Tokyo Electric Power Company (TEPCO), and Électricité de France (EDF), have already experienced significant price hikes. Taipower’s rates are relatively low compared to the cost of power generation, resulting in policy-driven losses. As of 2023, Taipower has accumulated losses of NT$382.6 billion due to absorbing price increases to protect Taiwan from global inflation. The MOEA disclosed that Taipower and the CPC Corporation have discrepancies in predicting natural gas prices, leading Taipower to observe international coal prices for cost estimates in 2024. While mitigating Taipower’s financial woes in the short term poses challenges, Wang aims to prevent further losses. The MOEA will assist Taipower in lobbying the government for budget support once financial situation estimates are finalized. The decision to adjust electricity prices will be made by the Electricity Price Review Committee.
2024/01/23 13:09
-
Financial strains lead Nauru to sever ties with Taiwan
Taiwan expresses strong regret and denounces the Republic of Nauru’s decision to sever diplomatic relations and establish ties with China as misguided and not beneficial for its people or regional stability. The Taiwanese Presidential Office highlights that Beijing’s diplomatic suppression is seen as retaliation against democratic values and a challenge to international stability. This move by Nauru reduces Taiwan’s diplomatic allies to twelve, marking the loss of its tenth ally since Tsai Ing-wen became president in 2016. Financial shortfalls resulting from the closure of Australia’s Nauru Regional Processing Center and other factors, such as Nauru’s request for economic aid and the closure of the Nauru branch of the Australian Bendigo Bank, have contributed to the strained Taiwan-Nauru relations.
2024/01/16 11:27
-
Lai Ching-te pledges unity, safety in presidential bid
DPP presidential candidate Lai Ching-te has proposed a comprehensive national vision, emphasizing unity, safety, and cross-strait cooperation based on mutual respect if elected. Lai aims to establish a transparent government by combating corruption, including illegal drugs and arms dealing, fraud, and embezzlement. He also plans to boost Taiwan’s economy by supporting the growth of small and medium enterprises in high-tech industries. Lai is committed to education equity, with plans to waive high school and vocational school fees and provide financial aid to private university students. He also pledges to improve long-term care facilities and services through the implementation of Long-term Care 3.0. Lai and his running mate, Hsiao Bi-khim, are dedicated to caring for the people, protecting Taiwan’s security, and advancing its development.
2023/12/26 20:06
-
Taiwan’s homeowner aid program ends next Friday
The National Land Management Agency (NLMA) in Taiwan has announced that the application period for the "Mortgage Assistance Program for Low-and-Middle-Income Homeowners" will close next Friday. Since its launch on June 1, over 730,000 households have applied for the program, with more than 460,000 qualifying for the subsidy. The NLMA aims to benefit 550,000 middle to low-income households, and there are still places available for applicants as of Wednesday. Eligible customers are being notified by financial institutions through text messages, emails, or loan payment receipts. Applicants are only required to provide basic information online and will receive a one-time payment of NT$30,000 upon approval.
2023/12/20 17:09
-
Chiayi City to boost taxi subsidies for pregnant women
The Chiayi City Government has announced a subsidy program for pregnant women using taxi services, in an effort to create a more pregnancy-friendly environment and counteract the city’s declining birthrate. Starting from New Year’s Day, the subsidies for expectant mothers’ taxi rides will increase from NT$2,800 to NT$4,500, with a maximum subsidy per ride rising from NT$100 to NT$150. The program now includes travel for any medical visits, as long as the rides are with designated fleets to and from medical institutions. The validity of the transportation tickets has also been extended to include the first three months following the infant’s birth. The policy is targeted at Chiayi locals and former immigrant mothers whose spouses are registered residents of Chiayi. Additionally, Chiayi has introduced plans to provide emotional support, parenting guidance, legal counseling, and financial aid to pregnant women under 20.
2023/12/20 16:08