By Brian Jules Campued
Secretary Alfredo Pascual has resigned from his post as secretary of the Department of Trade and Industry (DTI) effective Friday, the Presidential Communications Office (PCO) announced.
In a statement Wednesday, the PCO said Pascual already met with President Ferdinand R. Marcos Jr. to hand in his resignation as he intends to go back to the private sector.
Marcos recognized the outgoing Trade chief’s commitment to “guiding the restoration and transformation” of the Philippine economy.
“His focus on MSMEs was absolutely correct, and we are beginning to see the fruits of that policy,” the President said, as quoted by Malacañang.
“We are sorry to lose him, but we respect his decision that this is the time for him to return to the private sector,” he added.
Pascual, likewise, thanked the President for giving him an opportunity to contribute to the building of a “Bagong Pilipinas”—noting that Pascual’s role as DTI chief has been “one of the most challenging yet fulfilling experiences” in his career.
“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,” the seasoned banker and academic leader said in a statement.
“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,” he added.
Prior to his appointment as DTI secretary in 2022, Pascual served in various esteemed national and international institutions, including the University of the Philippines and the Asian Development Bank, among others.
Meanwhile, the PCO said the search for Pascual’s successor would “commence immediately to ensure a seamless transition and continuity in the department’s initiatives.” – iro