In the upcoming presidential election, Senior Minister Tharman Shanmugaratnam has announced his candidacy for the presidency, marking his departure from politics after a lengthy 22-year tenure.
Informed PM Lee of his decision
In a letter addressed to Prime Minister Lee Hsien Loong on Thursday, Mr. Tharman conveyed his decision to participate in the forthcoming presidential election, along with his intention to retire from politics and relinquish all government positions. Prime Minister Lee, who also serves as the secretary-general of the People’s Action Party, received the letter.
Mr. Tharman outlined his plan to resign from the People’s Action Party and step down from his roles as Senior Minister and Coordinating Minister for Social Policies on July 7, which is approximately one month from the date of his letter. He expressed the need to fulfill his immediate commitments within Singapore and on the international stage while ensuring proper arrangements are in place to serve his constituents in Jurong GRC for the remainder of the electoral term.
PM Lee thanks Tharman for his service
Responding to the letter, Prime Minister Lee accepted Mr. Tharman’s resignation and expressed gratitude for his distinguished service to Singapore.
This announcement follows the decision of the incumbent President Halimah Yacob, who declared on May 29 that she would not seek a second term. As Madam Halimah’s six-year term concludes on September 13, the election must be scheduled before then.
At the age of 66, Mr. Tharman is the first potential candidate to publicly express interest in the presidency. His eligibility is supported by his fulfillment of the public service requirement, as dictated by the law, due to his ministerial positions.
According to the Constitution’s public sector service requirements, presidential candidates must have held office in various capacities, such as minister, chief justice, Speaker, attorney-general, Public Service Commission chairman, auditor-general, accountant-general, or permanent secretary, for a minimum of three years.
Political career
Mr. Tharman was initially elected into Parliament in November 2001 as a representative of Jurong GRC and has since been re-elected four times.
Currently serving as Senior Minister since 2019, Coordinating Minister for Social Policies since 2015, and chairman of the Monetary Authority of Singapore (MAS) since 2011, Mr. Tharman also assumes the role of deputy chairman of the Government of Singapore Investment Corporation (GIC) since 2019 and chairs its Investment Strategies Committee.
His past portfolios include Deputy Prime Minister, Finance Minister, and Education Minister. Prior to his political career, he spent a significant portion of his professional life at the MAS.
On an international level, Mr. Tharman has served as chairman of the Group of Thirty, an independent global council comprised of influential economic and financial policymakers, since January 2017. Additionally, since April 2017, he has chaired the G20 Eminent Persons Group on Global Financial Governance, overseeing the review of multilateral financial institutions.