Trade liabilities reduced from $624m to $39m-BOST MD
By DL News
Published
1 min read
In a presentation made by the MD, he noted that BOST was a ‘very sick organization as of 2017’.
The Managing Director of the Bulk Oil and Transportation Company Limited(BOST), Mr.Edwin Alfred Provencal has indicated that his outfit has reduced trade liabilities almost by three-quarters.
Furthermore, BOST has settled a greater chunk of its areas dating back to 2017. In all, it has paid $585 million out of the $624m .
He made this revelation when he took his turn at the Ministry of Information on Sunday, September 26, 2021, to brief the country on the achievements of his outfit.
In a presentation made by the MD, he noted that BOST was a ‘very sick organization as of 2017’.
Also, he noted that BOST used 73% of its internally generated funds(IGF) to offset the liabilities.
“We did not do that by going to government alone. BOST contributed to the payment of this trade liabilities through our internally generated funds amount to 73%.” He noted.
Mr. Provencal further hinted at servicing the remaining trade liabilities by the end of next year(2022).
