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  • 2 weeks ago
MTS provides janitorial, security and special procurement services to the Ministry of Education.

But the Ministry, which relies on allocations from the Ministry of Finance, has fallen significantly behind on its payments, with arrears now totaling 450 million dollars.

The Education Ministry had previously secured two government-backed loans to carry out repairs at schools across the country.

However, a Joint Select Committee of Parliament was told that despite outstanding debts to MTS, the Ministry was required to return unspent loan funds to the Ministry of Finance.
Transcript
00:00Was a decision taken by the Cabinet of Trinidad and Tobago for the balance of those loans or monies to be returned to the Ministry of Finance?
00:16Remember, thank you for the question. The RBL loan, which was held in escrow, was returned to the central bank under directives from the Ministry of Finance.
00:26And what was the value of that?
00:28It was a $269 million loan.
00:32So the $260 million was returned?
00:36No, that was the face value of the loan. The balance at that time was approximately $147.5 million.
00:42And a decision was taken for that to be returned to the Ministry of Finance?
00:45Yes, in July 2025.
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