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While the Vehicle Management Corporation of Trinidad and Tobago (VMCOTT) is seeking to transform the entity from a major loss maker into a high-revenue generator, the Public Accounts (Enterprises) Committee heard that the State company is constrained by millions of dollars owed by government agencies and former executives.
At yesterday’s meeting, VMCOTT chairman Amrall Mohammed said after the current board was appointed last September, it found several problems, including the absence of audited financial statements for the past six years and unqualified staffing.
At the meeting, committee member Dr Roodal Moonilal raised concerns that VMCOTT was spending more than it earned and referred to a letter from the Office of the Procurement Regulator addressing the removal of oil on April 29, 2025, a day after the general election.
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