There has been many attempts by certain quarters to tag the extensions of Mr. Moin Raza Khan as CEO of PPL, illegal and against the law.
Whereas, the legal professionals have opined that appointment of Mr. Moin Raza Khan has been a legal step, which has been taken by the PPL BoD and it as per Company Acts and according to SECP Code of Corporate Governance and Company’s Act , 2017’s Section 187 (iii). It states that if the appointing authorities do not notify the name of regular CEO – MD and the same is jot approved by the Board by the expiry of existing CEO term, then the existing CEO may continue in the same role beyond the expiry of his term.
Moreover the current CEO is the only Geoscientist with both Minerals and Petroleum experience in the team that is dealing with the Reko Diq Project, hence the extensions.
