Asad Umar

Asad Umar (Urdu: اسد عمر‎; born 8 September 1961) is a Pakistani politician who has been the member of the National Assembly of Pakistan since September 2013. He is currently serving as Federal Minister for Planning, Development, Reforms and Special Initiatives, in office since 19 November 2019.

Asad Umer

SI
Minister for Planning, Development, Reforms and Special Initiatives
Assumed office
19 November 2019
PresidentArif Alvi
Prime MinisterImran Khan
Preceded byKhusro Bakhtiar
Chairman Standing Committee on Finance, Revenue and Economic Affairs
In office
8 May 2019 – 30 November 2019
PresidentArif Alvi
Prime MinisterImran Khan
Succeeded byFaiz Ullah Kamoka
Minister for Finance, Revenue and Economic Affairs
In office
20 August 2018 – 18 April 2019
PresidentArif Alvi
Prime MinisterImran Khan
DeputyHammad Azhar (Minister of State for Revenue)
Preceded byShamshad Akhtar (caretaker)
Succeeded byAbdul Hafeez Shaikh (Finance and Revenue Advisor), Hammad Azhar (Economic Affairs Minister)
Chairman Standing Committee on Industries and Production
In office
2013–2018
PresidentMamnoon Hussain
Prime MinisterNawaz Sharif
Succeeded bySajid Hussain Turi
Member of the National Assembly of Pakistan
Assumed office
13 August 2018
ConstituencyNA-54 (Islamabad-III)
In office
16 September 2013 – 31 May 2018
ConstituencyNA-48 (Islamabad-I)
Personal details
Born (1961-09-08) 8 September 1961
Rawalpindi, Punjab, Pakistan
NationalityPakistani
Political partyPakistan Tehreek-e-Insaf
Alma materInstitute of Business Administration, Karachi
AwardsSitara-i-Imtiaz
Websitehttps://asadumar.pk/

He has previously served as Chairman House Standing Committee on Finance, Revenue and Economic Affairs from 8 May 2019 till 30 November 2019 and Finance, Revenue, and Economic Affairs Minister of Pakistan from 20 August 2018 to 18 April 2019. Prior to entering politics, he was a business executive, serving as the Chief Executive Officer (CEO) of Engro Corporation from 2004 to 2012.[1]

Early life and education

In an interview, Umar said he was born in Rawalpindi in 1961 and is the youngest of six brothers and one sister. After his father's retirement from military, he moved to Karachi along with his family.[2] His father, Major General (retd) Ghulam Umar, was an army officer considered a close aide to General Yahya Khan.[3] He is the youngest brother of Mohammad Zubair, who was 32nd Governor of Sindh.[4][5]

Umar received a degree in Commerce (B.Com) at the Government College of Commerce & Economics.[6]

Umar graduated from IBA Karachi in 1984[7][8] from where he received an MBA degree.[2][6]

Professional career

He worked in HSBC Pakistan[8] after graduation for seven months.[2][6] He joined Exxon Chemical Pakistan in 1985[7] as a business analyst and was based in Canada. He was the only Pakistani employee of the company due to his father's diplomatic contacts.[8] Umar came back to Pakistan[8] to join Engro Corporation in 1985.[8]

In 1997, was appointed the first CEO of Engro Polymer and Chemicals, the petrochemical company of the group.[8] He became the President and CEO of Engro Corporation in 2004.[7] In 2009, he was awarded Sitara-i-Imtiaz for his public service.[9]

He took an early retirement as president and CEO from Engro in April 2012[7][10][11] at the age of 50 amid speculation that he would pursue political career.[12]

Umar is being credited for turning a chemical company into a major conglomerate[7][11][12] and is considered one of the most popular and highly paid CEOs in Pakistan.[8][11] During his tenure as CEO of Engro Corporation, Umar was paid about US$6 million for the year 2011.[8]

Political career

He joined Pakistan Tehreek-e-Insaf (PTI) in 2012[7][11][12] and was made Senior Vice President.[13]

He was elected to the National Assembly of Pakistan from Constituency NA-48 (Islamabad-I) as a candidate of PTI in by-election held in August 2013.[14][15] He received 48,073 votes and defeated a candidate of Pakistan Muslim League (N) and became an MNA.[16] After Pakistan General Elections 2013, Asad served in the following Standing Committees of the National Assembly:

  • Standing Committee on Industries and Production. (Chairman Committee from 2013 till 2018)
  • Standing Committee on Cabinet Secretariat.
  • Standing Committee on Finance, Revenue and Economic Affairs.

In 2014, Lahore University of Management Sciences cancelled a scheduled speech of Umar due to being political in nature rather than educational.[17]

He was re-elected to the National Assembly as a candidate of PTI from Constituency NA-54 (Islamabad-III) in 2018 Pakistani general election.[18] He received 56,945 votes and defeated Anjum Aqeel Khan and again became an MNA.[19] After Pakistan General Elections 2018, Asad is serving in the following Standing Committees of the National Assembly:

  • Special Committee on Agricultural Products.
  • Non-Ministerial Standing Committee on Business Advisory.
  • Standing Committee on Finance, Revenue and Economic Affairs. (Chairman Committee from 8 May 2019 till 30 November 2019)

Following his successful election, Umar was named as the potential candidate for the office of Minister for Finance, Revenue, and Economic Affairs.[20] On 20 August 2018, he was sworn in as the Finance, Revenue and Economic Affairs Minister of Pakistan in the Federal Cabinet of Prime Minister Imran Khan.[21]

On 18 September 2018, he presented amended finance bill for fiscal year 2018-2019 in the National Assembly.[22]

On 11 October 2018, Umar held a meeting with Christine Lagarde, chair of the International Monetary Fund (IMF) and formally applied for bailout package.[23]

The same month news reports emerged that Prime Minister Imran Khan has expressed dissatisfaction and reservations over Umar's performance as Minister for Finance, Revenue and Economic Affairs.[24]

On 18 April 2019, he stepped down from the Finance Ministry.[25]

From 8 May 2019 till 30 November 2019, Asad Umar was serving as the Chairman Standing Committee of the National Assembly of Pakistan for Finance, Revenue, and Economic Affairs. This is a key office as the chairman can ask the finance minister and his ministry regarding their performance. Moreover, the chairman can also give advice the finance minister and the finance ministry regarding their policies.

On 9 July 2019, Umar started working as the Member of Economic Advisory Council (Pakistan) after the recommendations of Prime Minister Khan.

He is working as the Focal person for Supervision & Coordination amongst Government Agencies for All Mega Projects in Karachi funded by Federal government of Pakistan since 1 November 2019.

On 30 September 2019, news emerged that Imran khan will do a reshuffle, in cabinet and Umar would return in the cabinet.

On 19 November 2019, He was reinducted into Federal Cabinet and appointed as Federal Minister for Planning, Development, Reforms and Special Initiatives.[26]

He is working as the Chairman of the cabinet committee on China–Pakistan Economic Corridor.

On 20 March 2020, he was appointed as the "Chairman of cabinet committee on Energy" replacing Abdul Hafeez Shaikh.

He also Chairs the "National Command and Operations Centre (NCOC)" to deal with the COVID-19 in Pakistan.

References
  1. Farooq Tirmizi (17 April 2012). "Corporate titan: After 27 years at Engro, Asad Umar calls it a day". The Express Tribune.
  2. Zehra Shigri (9 June 2013). "Winds of change". The News US Magazine. Archived from the original on 9 June 2013. Retrieved 26 February 2017.
  3. "Brother of Sindh governor and PTI's Asad Umar passes away in Karachi". The Express Tribune. 24 June 2018. Retrieved 8 March 2019.
  4. "Muhammad Zubair named Sindh governor - The Express Tribune". The Express Tribune. 31 January 2017. Archived from the original on 31 January 2017. Retrieved 26 February 2017.
  5. "Two talented brothers wrestle political issues for opposing sides". DAWN.COM. 21 February 2014. Archived from the original on 27 February 2017. Retrieved 26 February 2017.
  6. "Featured Interviews - Mr. Asad Umar". alumni.iba.edu.pk. IBA. Archived from the original on 9 October 2016. Retrieved 26 February 2017.
  7. "Engro president quits". DAWN.COM. 17 April 2012. Archived from the original on 27 February 2017. Retrieved 26 February 2017.
  8. "Corporate titan: After 27 years at Engro, Asad Umar calls it a day - The Express Tribune". The Express Tribune. 17 April 2012. Archived from the original on 22 December 2016. Retrieved 26 February 2017.
  9. "List of civil award winners". DAWN.COM. 16 August 2009. Archived from the original on 27 February 2017. Retrieved 26 February 2017.
  10. "Engro CEO Asad Umar decides to quit". Daily Times.com. 17 April 2012. Archived from the original on 14 October 2013. Retrieved 19 April 2012.
  11. "From Engro to PTI: A look back and forward at Asad Umar's life - The Express Tribune". The Express Tribune. 29 April 2012. Archived from the original on 22 December 2016. Retrieved 26 February 2017.
  12. "New recruit: Former Engro CEO Asad Umar joins PTI - The Express Tribune". The Express Tribune. 19 April 2012. Archived from the original on 21 December 2016. Retrieved 26 February 2017.
  13. "Pakistan Tehrik-i-Insaaf". DAWN.COM. 23 March 2013. Archived from the original on 27 February 2017. Retrieved 26 February 2017.
  14. "PTI man wins NA-48 amid low turnout". DAWN.COM. 23 August 2013. Archived from the original on 27 February 2017. Retrieved 26 February 2017.
  15. "By-election: 32 per cent turnout in NA-48 by-election - The Express Tribune". The Express Tribune. 24 August 2013. Archived from the original on 23 August 2013. Retrieved 26 February 2017.
  16. "2013 election result" (PDF). ECP. Retrieved 25 April 2018.
  17. "LUMS cancels Asad Umar's talk". DAWN.COM. 12 November 2014. Archived from the original on 27 February 2017. Retrieved 26 February 2017.
  18. "Pakistan election results live: Imran Khan wins in Pakistan but needs support to form government". GulfNews. 27 July 2018. Retrieved 1 August 2018.
  19. "NA-54 Result - Election Results 2018 - Islamabad 3 - NA-54 Candidates - NA-54 Constituency Details - thenews.com.pk". www.thenews.com.pk. Retrieved 1 August 2018.
  20. "Naya minister, meet purani ministry - Profit by Pakistan Today". Profit by Pakistan Today. 30 July 2018. Retrieved 9 August 2018.
  21. "16 ministers from PM Imran Khan's cabinet sworn in". DAWN.COM. 20 August 2018. Retrieved 20 August 2018.
  22. Khan, Sanaullah (18 September 2018). "Government cuts development spending, increases taxes on country's elite". DAWN.COM. Retrieved 18 September 2018.
  23. "Subscribe to read". Financial Times. 11 October 2018. Retrieved 14 October 2018. Cite uses generic title (help)
  24. "Reports PM unhappy over Asad Umar's performance refuted | The Express Tribune". The Express Tribune. 12 October 2018. Retrieved 14 October 2018.
  25. "Asad Umar addresses press conference after stepping down as finance minister Due to Jahangir Tareen interference". DAWN.COM. 18 April 2019. Retrieved 18 April 2019.
  26. https://tribune.com.pk/story/2101913/1-asad-umar-replace-khusro-bakhtiar-planning-minister/?amp=1
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