Even though various names and theories are being floated, officials close to Prime Minister Nawaz Sharif, who will today host a farewell dinner for Kayani, say the premier is holding the crucial cards close to his heart.
In a surprise move, 61-year-old Kayani had scotched speculation of a possible extension by issuing a statement on October 6 saying, "My tenure ends on 29th November 2013. On that day I will retire."
The selection of the chief of the Pakistani army, often described as the state within the state, has not been an easy task for the civilian government and especially for the once bitten, twice shy Sharif.
For Sharif, choosing the new Army chief would be a calibrated move. This would be the fourth time he would be choosing an Army Chief.
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He picked up Abdul Waheed Kakar as the Army chief in 1993 but the General soon ditched him and played a key role in Sharif's resignation. Kakar had superseded at least four senior generals.
Musharraf first plotted the Kargil misadventure derailing Sharif's India-Pakistan peace dialogue in 1999 and then engineered a coup against the Prime Minister in the same year.
Sharif selected Ziauddin Butt in October 1999 but he could not take over as the Army chief due to the coup by Musharraf.
Kayani, who also served as the Director-General of the spy agency ISI and director of the Directorate-General of Military Operations, will hang his boots on Friday after being at the helm of the Army for six years.