Type to search

News

EZDMC CEO Resigns Before Inauguration Of Rashakai Special Economic Zone

  • 5
    Shares

PESHAWAR: The Economic Zones Development and Management Company (EZDMC) chief executive officer (CEO) has tendered his resignation at a time when the launch of Khyber Pakhtunkhwa’s (KP) largest industrial estate is just around the corner, Dawn reported.

According to details, the EZDMC CEO Saeed Ahmed emailed his resignation on Sunday to the secretary of the industries department, who is also chairman of the company’s board. Ahmed had been heading the government-owned company since the past one-and-a-half years.

In the resignation letter, the CEO said that he was resigning due to personal reasons as CEC with immediate effect from September 21.

Ahmed said that he has shifted his family to Canada so that his children could continue their education, while adding that he was planning to return soon to continue his job.

He also said that splitting the family while his children were still very young was not appropriate at the time and would prove stressful for him and his family. “In view of these circumstances, I decided to resign from service,” he added. The chairman of the board later confirmed receiving an email from the CEO on Sunday.

Rumours regarding Ahmed’s resignation were doing the rounds since the past few weeks following which the CEO decided to go on a French leave after his leave application was rejected by the industries secretary on the grounds that the signing ceremony of the Rashakai special economic zone (SEZ) agreement would be held soon.

In a letter addressed to the CEO, dated August 27, the industries department stated that with respect to his ex-Pakistan leave application, dated August 16, the competent authority declined to accept his application on the grounds that his absence on leaves would severely affect finalisation of development agreement of Rashakai SEZ that was in final stages.

“The competent authority had also verbally informed you accordingly,” it said, while directing the officer that he could apply for ex-Pakistan leave after finalising the agreement.

However, Ahmed opted for the option of taking French leave the same day his leave application from August 27 to September 2 was turned down. When the officer failed to show up on September 2, the very next day the company’s board passed a resolution and authorised the chief commercial officer, namely Adil Salahuddin, to exercise the powers of acting CEO in Ahmed’s absence.

“In order to carry out smooth day-to-day operations of the company in absence of Mr Saeed Ahmed, the board of directors hereby resolves to delegate administrative and financial powers of CEO as envisaged in Clause 62 of the Articles of Association of the Company to Mr Adil Salahuddin being senior most officer with effect from September 3 till resumption of duties by Mr Saeed Ahmed,” said the resolution.

According to sources, Ahmed failed to return on September 2 after which he sent another email to the industries secretary requesting him to grant him leave till September 20 which was denied.

Sources further said that the CEO had claimed his gratuity and pulled out his children from school before submitting his leave application. After his leave was denied, he proceeded on French leave, they added.

Meanwhile, another source said that the departure of the CEO was like a dent to the provincial government’s claims of good governance. “It is surprising to see the head of an entity resign from duty when the company is all set to launch its most important project in the province,” he said.

He further said that the board should be held responsible while the management should also be held accountable for their faults in this connection.

Tags:

Leave a Comment

Your email address will not be published. Required fields are marked *

Comment moderation is enabled. Your comment may take some time to appear.

Naya Daur