Page 515 - Bahrain Gov Annual Reports (I)_Neat

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much lover rate. The ;:ioney avai table for
investment in 1352 wu3 U 2,50,000/-, Lho fol­

lowing year it was only Hs 2,00,000/-.
o. Lo an s r j o ov o rab le. The Muharraq muni­
cipality owes money to the Government on
account of a loan made to the .municipality
some years ago for assistance in installing

electric power in .Muharraq. The amount was
to be re-pa id by yearly instalments of Rs 7,700/-
but this year owing to the municipality’s fin­

ancial difficulties it vas agreed that only
half the instalment should be refunded.
7# •Sales of _land to the British Government.
This is not normal revenue but is the proceeds
of tiie sale of three pieces of land, two in

ilanamah and one in Muharraq, to the British
government.
The amount paid co the Bahrain government
was Rs 1,96,031/-. Out of this sum, Rs 33,352/-

was paid into the Privy purse of His Excellency
Shaikh Sir Hamad, this payment is not included
in the report on expenditure, The purchase of
land from private owners cost the State Rs 45,012/-
and in addition to this Rs 7,000/- was paid to

shaikh Mohomed bin Isa who considered that he
had a claim to all the open land in the neigh­
bourhood of Jufair, Rs 300/- was the cost of

transferrin0 cash to Bahrain from India. The
amount which accrued to the government from the
whole transaction was Rs 1,10,367/-. In add it ion
to the financial arrangements a large amount of
government land was given to the previous occupants.