Dubai government has announced a Dh1.5 billion stimulus package for Dubai to stimulate the economy and help the people and businesses during the economic slowdown and shutdowns due to the Coronavirus.
The move is aimed to reduce the cost of living in Dubai. Sheikh Hamdan made the announcement on Twitter earlier today and stated that DEWA power and water bills will be reduced by 10% for the next 3 months. And deposits for opening DEWA connections are discounted by 50%.
Easing the cost of living by reducing water and electricity bills by 10% for all Dubai customers, including residential, commercial and industrial for a period of 3 months, while reducing the deposit paid by 50%.
— Hamdan bin Mohammed (@HamdanMohammed) March 12, 2020
Here are the complete list of benefits announced by Sheikh Hamdan:
- DEWA bill reduction by 10% for individuals and businesses
- DEWA deposit reduction by 50%
- Freezing of classification fees to hotels, ticket fees, permit issuance and government fees on recreational and business activities.
- Suspension of 2.5 per cent market fees, recovery of 20 per cent of custom fees on imported products sold locally.
- Cancellation of the Dhs50,000 bank guarantee or cash required to exercise customs clearance activity, 90 per cent reduction on the fees imposed on submitting customs documents.