Asad Umar steps down as finance minister

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) MNA Asad Umar announced Thursday that he is stepping down from his post as finance minister, ARY News reported.

In a statement on Twitter, Asad Umar broke the news by saying, “As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance.”

“However, I have obtained his consent to not take any cabinet position. I strongly believe PM Imran Khan is the best hope for Pakistan and inshallah will make a naya pakistan,” the former minister added.

As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance. However, I have obtained his consent to not take any cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah will make a naya pakistan

— Asad Umar (@Asad_Umar) April 18, 2019

ARY News had already reported on Monday that Prime Minister Imran Khan was mulling over reshuffling his cabinet in light of the performance of federal ministers, including Finance Minister Asad Umar.

ARY News had further reported that after removal as the finance minister, Asad Umar could be entrusted the portfolio of petroleum minister.

Last month, Prime Minister Imran Khan had decided to review the performances of all federal ministries and cabinet divisions of the governments on quarterly basis, for which a notice was also sent to all federal secretaries from the Prime Minister’s Office.

About Asad Umar

A PTI member of the National Assembly of Pakistan Asad Umar was previously considered as one of the most popular and highly paid CEOs in Pakistan.

Ex-President and Chief Executive of Engro Chemicals Pakistan Limited Asad Umar was born in Rawalpindi in 1961. He served as CEO and President of Engro Corporation for eight years during a 27-year career with the company. Umar is credited for turning a chemical company into a major conglomerate. He received Sitara-i-Imtiaz for his business achievements in 2010.

Umar received a degree in Commerce (B.Com) at the Government College of Commerce & Economics. Later graduated from IBA Karachi in 1984 from where he received an MBA degree.

He is the youngest brother of Mohammad Zubair, who is currently serving as 32nd Governor of Sindh.

Umar took early retirement as President and CEO from Engro in April 2012 at the age of 50. After quitting Engro he joined Pakistan Tehreek-e-Insaf where he became a part of a committee to work on a draft paper, which was being shaped to suggest economic reforms to take Pakistan out of the financial crisis.

Asad Umar was appointed Central Senior Vice President of PTI on 21 April 2012. He was elected as MNA on Pakistan Tehreek-e-Insaf (PTI) ticket from Islamabad Constituency NA-48 in a by-election after the seat was vacated by then PTI President Javed Hashmi.

Umar was one of the very few PTI leaders whose ministry was decided well before the July 2018 elections as everyone knew he will become Imran Khan’s finance minister if PTI comes to power.