The Daily Tribune – www.newsofbahrain.com
The Government is planning to present a bill in parliament in the next few months to allow the Future Generations Reserve Fund to take higher deductions from oil sales.
The deductions will help replace money withdrawn from the fund to support the general budget as part of efforts to combat the coronavirus (COVID-19) pandemic and sustain the Kingdom of Bahrain’s economic recovery.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said the move would boost the revenues of the fund which plays a vital role.
The current law imposes a deduction of a dollar in the event that the price of one barrel exceeds $40.