![\"BOST](\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2021\/09\/image-16-1024x772.png\" "\\"BOST")
<\/figure>\n\n\n\nAccording to the MD, the company was \u201ca very sick organisation as of 2017.\u201d<\/p>\n\n\n\n
In his presentation, the BOST MD highlighted that about 73% of the liabilities were offset using internally generated funds by June 2021.<\/p>\n\n\n\n
This, he believes, is laudable in addition to some 27% provided by the government.<\/p>\n\n\n\n
\u201cWe 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%.\u201d<\/p>\n\n\n\n
The MD further insisted the efforts are being made to service the rest of the trade liabilities by 2022.<\/p>\n\n\n\n
A forensic audit was also conducted into BOST\u2019s BDC claims to the tune of about $37 million.<\/p>\n\n\n\n
After the Economic and Organised Crime Office (EOCO), National Security among other agencies, were brought in to investigate the claims, \u201ceach of these companies who claimed they were owed $37 million now accepted that we owe them $11 million.\u201d<\/p>\n\n\n\n
\u201cWe saved this country a whopping 26 million,\u201d Edwin Alfred Provencal said.<\/p>\n\n\n\n
He told journalists that the move is part of efforts to improve the books of the state agency and allow for ample space to operate in the country\u2019s oil and gas sector.<\/p>\n\n\n\n
The Bulk Oil Storage and Transportation Company Limited (BOST) is embarking on a strategy that seeks to enhance operational excellence and aggressively grow the business.<\/p>\n\n\n\n