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.