Managing Director of the East Port- of- Spain Development Company, Dr. Deborah Thomas-Austin, says steps are being taken to address financial challenges that have been found following the disappearance of $16 million dollars.

She gave the update as the company’s operations came under review at a sitting of Parliament’s Public Administration and Appropriations Committee this week.

PAAC Member, Clarence Rambharat, wanted to know how such a large amount of money went missing with the development not being noticed by the management of the company.

In response Dr. Thomas-Austin indicated the limited number of personnel in its Finance Unit and the action taken to correct the situation.