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Wednesday, 1 October 1952

Mr CASEY - It is true that revenue from the Anglo-Iranian Oil Company Limited represented a substantial part of the budgetary receipts of the Iranian Government. I believe that about one- third of Iran's total revenue was derived from that source. The embarrassment caused to the Iranian Government by the cutting off of that source of revenue is quite apparent. I understand that Iran has made every effort to fill the gap left by the loss of that revenue by all sorts of methods that cannot be detailed, including the running down of its overseas balances, the more stringent collection of overdue taxes, heavy internal loans and the collection of revenue from other sources that will not be permanent. The United States of America, in past years, has helped Iran in both military and civil development in the same way as it has helped a great many other countries that are trying to re-establish their economies or increase the scope of their developmental projects. I understand that American aid is not now forthcoming to afford budgetary assistance to the Iranian Government. I have no current information on the last part of the honorable member's question. I believe that the negotiations have made no progress, but I shall have that matter investigated and advise him about it subsequently.

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