Taiwan Approves Record-Breaking Funding for CPC Corporation Amid Energy Price Crisis

The Taiwanese government has approved a record-breaking NT$335.265 billion ($10.6 billion) in financial support for state-owned energy company CPC Corporation.

The funding includes NT$101.431 billion ($3.2 billion) in oil and gas price-gap subsidies and NT$233.834 billion ($7.4 billion) in capital injection, both of which set new records for the largest single subsidy and capital increase in Taiwan's state-owned enterprise history.

The government has also frozen household natural gas and LPG prices through the end of this year to address inflationary pressures from Middle East conflicts driving up international fuel prices.