Page 295 - Records of Bahrain (7) (ii)_Neat

Economic and financial affairs 685

No. 003-21 or :i 371
Office of tho \dviaor
to the Government, Bahrain
Da tod 3rd R/Than.i, 137.1,
DooomBor 31, 1951
Fijom
C. Dtilryinplo Bulgrnvo, ttscmlro, C. B. N. ,
. Advisor to tho Govcriiiiioub »»f Bahrain,
Bahrain, Persian Gulf.
To
.',Uiu Britannic Majority1 0 Political A<;ont,
Bahrain*
:v -...I?
’ &
Sir| . • ....
I'have-ihe honour to. forward a copy of the Stato Budget for j
•v ’ k:. ’ *
.,'1371' together.with details of tho rovonuo and axpendlturo during
■13,70.
.•••• j.-v-. . .. , • f. v Vjifi},- ;-.v:iVi
2. The /total'-estimated revenue ia 20!i^- lakhs which io approximately
. ••• » ’’ *’ ,
2 1/0 million pounds sterling. The principal sources of %
:>;■ ■ • -v" * • • ■. »•
revenue aro the oil royalty and customs receipts*. I have, assumed-•>;
' * . • ' {]
that tho^production of oil will Bo maintained nt; the same-level
■ ' yf-' : . '
as in 137p. ; Towards the end of .1370 tho Bahrain ^Petroleum
Company agreed to make a voluntary payment to tho .otate of -.Gpj-J^’V^I;
lakhs ncr annum, with this additional payment, at the. prosoi>t‘^Vy-,j'^
• ’ • . . . I '-:-
royalty rate, which is Rs. 10/- nor ton, the revenues from oil
•*>' ’ • ?:•'
will uniount1 to 190 lukho. I have estimated customs receipts: ,*. \
‘ at .70 lalcho, this figure io Based on tho everngo.,customs revenue/./
during the last two years. In 1370 customs receipts totalled
Q
Oil lakhs, Other sources of revenue differ little from last
year's figuros. The income from the Reserve Fund iiu:reuses each
year as tho fund is nd-'od to, the Gtste ne\/ has 2211 lakhs,
approximately £1,662,000- invested in British and Indian

Oovorniaont s tock, Another increasing source «-f income- is from V
rontals of buildings which aro constructed by the Otate and
leased to tenants. An advantage of this form «»f investment la
that the capital cost is expended in Bahrain, Tho ac buul
rovonuo in 1370 was 2511 lake, the estimated revenue for 1371
is/