Monday, September 1, 2014
Asad Umar (born 1961) is a Pakistani lawmaker and former business administrator . He served as CEO and President of Engro Corporation for 8 years during a 27-year career with the company. He resigned from his post at Engro and Joined Imran Khan led political party Pakistan Tehreek-e-Insaf on April 2012.
Tenure at Engro
Umar’s 27-year career at Engro began in 1985, when the company was still a subsidiary of ExxonMobil, the global oil giant. He joined the company as a business analyst, and was working for it abroad in Canada when the famous management buyout of Engro took place in 1991. Umar came back to Pakistan and in 1997 was appointed the first CEO of Engro Polymer & Chemicals, the group’s petrochemical arm. Later on, he was elected as the President and CEO of Engro Corporation in January 2004 and transformed the business from a mere chemical company to a giant conglomerate. It was his idea to diversify into dairy and food business and today 'Engro Foods' stand as the highest profit producing subsidiary of Engro Corporation. It was in his tenure when Engro became the first Pakistani company to buy a business entity abroad when the company earlier in 2012 bought Canadian based food company 'Al Safa Halal'.
Umar has been quoted about his first salary as saying, “I still remember the exact figure of my first salary: Rs 3,200 per month. He confirmed this in Waqt News Program and He was working in HSBC Bank at that time. My boss at the time said ‘Well, frankly they are paying you too much.” At the time he left the company, he was the CEO in the company who received Rs 7.0 million monthly as salary, in addition to which he was also paid from company stocks and owns about 2 million shares of the corporation.
Asad Umar resigned as CEO of Engro Corporation on 19 April 2012 and joined Pakistan Tehreek-e-Insaf. At PTI, he will be part of committee to work on a draft paper to suggest economic reforms to take Pakistan out of current financial crisis. Asad Umar was appointed Central Senior Vice President of PTI on 21 April 2012. He is the candidate of Pakistan Tehreek-e-Insaf (PTI) fromConstituency NA-48 Islamabad in the upcoming July by-elections after the seat was vacated by PTI central president Javed Hashmi. Hashmi had won by scoring over 70,000 votes compared to 50,000 gained by the runner up. Asad Umar won the re-elections held on 22 August 2013 from NA-48 at the seat vacated by Hashmi. He secured 48,072 votes.
The plan to oust the PML-N led government and topple Prime Minister Nawaz Sharif from power is reaching critical mass. The last 48 hours saw the Pakistan Tehreek-i-Insaf (PTI) and Pakistan Awami Tehreek (PAT) anti-government protests morph Islamabad's Red Zone from a concert ground to a bloody battlefield, with at least three people killed and hundreds injured. The deadly confrontation shows little signs of letting up, as both Imran Khan and Tahirul Qadri have encouraged their supporters to battle on, while negotiations with the government appear to be going nowhere - despite the Pakistan Army playing the role of 'mediator'.
'It won't be called a martial law'
Javed Hashmi said he was ashamed and said he was sure Imran was too. "Now I'm going to say something and maybe Imran will refute that as well but it would be good if he didn't.""Imran had told the core committee it won't be called a martial law...we will file a petition in the Supreme Court and get a judge of our choosing...and he will say okay...we didn't talk about Bangladesh...that CJ will validate the actions that will be taken eventually...today I have heard that CJ has called all judges...Justice Jilani will retire and the current CJ will become chief justice...and they will get rid [of the government]".