Senior Minister Tharman Shanmugaratnam announces he's running for Presidential Election

Senior Minister Tharman Shanmugaratnam has announced that he will be running in the upcoming Presidential Election. 

In a letter addressed to Prime Minister Lee Hsien Loong on Thursday (June 8), Tharman wrote that he would step down as Senior Minister and Coordinating Minister for Social Policies and resign from the People's Action Party by July 7. 

He will also be stepping down as Chairman of the Monetary Authority of Singapore (MAS), Deputy Chairman of the Government of Singapore Investment Corporation (GIC), Chairman of the Economic Development Board's International Advisory, as well as other responsibilities he has been undertaking in his ministerial capacity. 

"I have been humbled by the requests I have received in recent months, from Singaporeans from different walks of life, to stand in the Presidential Election if President Halimah chose not to stand again," Tharman said.

"I believe that I can now best serve Singapore not in politics, but in a different role that has to be above politics."

Replying to the letter, PM Lee thanked Tharman for his service in the past 40 years, and added that his departure from the Cabinet and the People's Action Party would be a "heavy loss".

"We will miss your leadership, insightful views, and wise counsel. But I understand why you have decided to make this move and run for President. It is in keeping with the spirit of public service and sense of duty that you have shown all these years."

PM Lee also wished Tharman success in his candidacy, adding: "I am confident that you will carry out these duties scrupulously and with the independence of mind you have always displayed."

Tharman's political career 

Tharman, 66, has been serving as Senior Minister since May 2019. 

He is currently also Coordinating Minister for Social Policies and advises the Prime Minister on economic policies.

Besides serving as Member of Parliament for Jurong GRC since 2001, Tharman has also served in various capacities in the government.

His portfolio includes serving as the Minister for Finance (2007-2015), and Minister for Education (2003-2008). 

After the 2011 general election, Tharman was also appointed Deputy Prime Minister, while remaining as Minister for Finance. 

He stepped down as Deputy Prime Minister in May 2019, when he became Senior Minister.

Outside of politics, Tharman has been the chairman of the Monetary Authority of Singapore since May 2011. He is also the Deputy Chairman of the Government of Singapore Investment Corporation and chairs its Investment Strategies Committee.

On May 29, President Halimah Yacob announced that she will not be running for a second term as head of state in the upcoming election. 

Her term expires on Sept 13, which means that the Presidential Election will have to be called by then. 

Just last week, the Elections Department said that Prime Minister Lee Hsien Loong has directed the Registration Officer to revise the Registers of Electors on or before July 31, to bring the registers up to date.

claudiatan@asiaone.com