TRADE Secretary Alfredo Pascual has confirmed his resignation as chief of the Department of Trade and Industry (DTI), said the Presidential Communications Office (PCO) announced on Wednesday.
In a statement, the Palace said Pascual’s resignation will take effect on August 2, 2024.
The outgoing Trade chief will transition back to the private sector, the PCO said.
“President [Ferdinand] Marcos Jr. met with Secretary Pascual at Malacañan Palace to accept his resignation and acknowledge his invaluable service in guiding the restoration and transformation of the Philippine economy,” Malacañang said.
In May 2022, then President-elect Marcos announced that he has tapped Pascual, a fomer head of the Management Association of the Philippines and a former president of the University of the Philippines, to be his Trade secretary.
“His focus on MSMEs was absolutely correct, and we are beginning to see the fruits of that policy. We are sorry to lose him, but we respect his decision that this is the time for him to return to the private sector,” said Marcos.
The PCO said the search for a successor will commence immediately to ensure a seamless transition and continuity in the DTI’s initiatives.
In a separate statement, Pascual confirmed that he will be stepping down from the helm of the DTI.
“After much reflection, I have decided it is time for me to return to the private sector. There, my roles will allow me to continue contributing my expertise and experience while being able to spend quality time with my family,” the outgoing Trade chief said.
“Serving in the Marcos Jr. Cabinet has been an extraordinary privilege and honor. I take pride in our collective achievements at the Department of Trade and Industry,” Pascual said.
Nonetheless, Pascual said his role as secretary of the DTI “has been one of most challenging yet fulfilling experiences of my career.”
“With a full heart and unwavering commitment to our nation’s economic growth and development, I accepted the invitation to serve as Secretary of Trade and Industry under the Marcos Jr. administration,” he said.
“I thank the President for the opportunity to serve our beloved country under his leadership and contribute to the building of a Bagong Pilipinas,” he added.
