Chaudhry Asad Umer
|Minister for Planning, Development, Reforms and Special Initiatives|
19 November 2019
|Chairman House Standing Committee on Finance, Revenue and Economic Affairs|
08 May 2019 - 30 November 2019
|Faiz Ullah Kamoka|
|Minister for Finance, Revenue and Economic Affairs|
20 August 2018 - 18 April 2019
|Deputy||Hammad Azhar (Minister of State for Revenue)|
|Shamshad Akhtar (caretaker)|
|Abdul Hafeez Shaikh (Finance and Revenue Advisor), Hammad Azhar (Economic Affairs Minister)|
|Member of the National Assembly of Pakistan|
13 August 2018
16 September 2013 - 31 May 2018
|Born||8 September 1961|
Rawalpindi, Punjab, Pakistan
|Political party||Pakistan Tehreek-e-Insaf|
|Alma mater||Institute of Business Administration, Karachi|
Chaudhry Asad Umar (Urdu: ; born 8 September 1961) is a Pakistani politician who has been the member of the National Assembly of Pakistan since September 2013 till date. He is currently serving as Federal Minister for Planning, Development, Reforms and Special Initiatives from 19 November 2019; Focal Person for Supervision & Coordination amongst government agencies for all mega projects in Karachi funded by Federal Government since 1 November 2019; Chairman House Standing Committee on Finance, Revenue and Economic Affairssince 8 May 2019 and member of Economic Advisory Council (Pakistan) since 9 July 2019. He has previously served as the 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..
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. His father, Major General (retd) Ghulam Umar, was an army officer considered a close aide to General Yahya Khan. He is the youngest brother of Mohammad Zubair, who was 32nd Governor of Sindh.
He worked in HSBC Pakistan after graduation for seven months. He joined Exxon Chemical Pakistan in 1985 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. Umar came back to Pakistan to join Engro Corporation in 1985.
In 1997 was appointed the first CEO of Engro Polymer and Chemicals, the petrochemical company of the group. He became the President and CEO of Engro Corporation in 2004. In 2009, he was awarded Sitara-i-Imtiaz for his public service.
Umar is being credited for turning a chemical company into a major conglomerate and is considered one of the most popular and highly paid CEOs in Pakistan. During his tenure as CEO of Engro Corporation, Umar was paid about USD 6 million for the year 2011.
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. He received 48,073 votes and defeated a candidate of Pakistan Muslim League (N).
He was re-elected to the National Assembly as a candidate of PTI from Constituency NA-54 (Islamabad-III) in 2018 Pakistani general election. He received 56,945 votes and defeated Anjum Aqeel Khan. Following his successful election, Umar was named as the potential candidate for the office of Minister for Finance, Revenue, and Economic Affairs. On 20 August 2018, he was sworn in as Federal Minister for Finance, Revenue, and Economic Affairs in the federal cabinet of Prime Minister Imran Khan.
The same month news reports emerged that Prime Minister Imran Khan has expressed dissatisfaction and reservations over Umar's performance as Minister for Finance.
On 18 April 2019, he stepped down from the Finance Ministry .
From 8 May 2019, Asad Umar is serving as the Chairman of the Standing Committee of the National Assembly of Pakistan for Finance, Revenue, and Economic Affairs. This is a key office as it is above the finance ministry ,the chairman can ask the finance minister and his ministry regarding their performance. Moreover, the chairman can also guide 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) under recommendations of PM Khan in addition to the Chairman of Standing Committee on Finance, Revenue and Economic Affairs.
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 and Special Initiative.
On 26 March 2020 he was appointed as the head of cabinet committe for energy replacing Hafeez Sheikh