Minister of Economic Affairs Shen Jong-chin (沈榮津) yesterday said that previously announced stimulus coupons are still being scrutinized, as the program has received mixed reactions from politicians.
In an interview with journalist Clara Chou (周玉蔻) on Hit FM radio station, Shen denied rumors that the ministry is determined to see the program through in a bid to save face, despite opposing voices.
“We are still gathering different perspectives and we will listen to the public,” Shen said, adding that the issuing of stimulus coupons should not be the main focus, as the COVID-19 pandemic remains a threat to the well-being of local industries.
“Right now we are focusing on helping businesses via wage subsidies, reductions in utility rates, an increase in bank loans and other financial aids... Stimulus measures would come afterward,” Shen said, citing a three-step plan to face the challenges caused by the disease.
“We need to protect our industries first, so that everybody can keep their jobs,” he said.
Meanwhile, the ministry’s schemes aimed at providing assistance to businesses in need might be expanded to include more companies affected by the pandemic.
Companies are required to show proof of a 50 percent annual decline in sales over the past two months to qualify for aid from the government.
Vice Minister of Economic Affairs Wang Mei-hua (王美花) on Monday said that the ministry is considering lowering the threshold to 30 percent for the services and manufacturing sector.
“After reviewing more than 1,400 applications over the weekend, we found that some industries are struggling more than others to meet the official requirements,” Wang told reporters following a visit to a local wedding services provider in Taipei.
She added that the ministry would hold more discussions with industry representatives on the matter.
Separately yesterday, the Intellectual Property Office said that it would help local pharmaceutical companies identify the legal use of existing drugs to counter the spread of the pandemic.
As the race to develop a vaccine for virus continues across the globe, the office said that it would in the meantime retrieve and publish information on old drugs that have been touted as potential COVID-19 treatments.
It would classify the core technologies of a total of 52 drugs according to their existing patents in a bid to help the local pharmaceutical industry, the office said.
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