MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual is stepping down from his post and will return to the private sector.
In an announcement by the Presidential Communications Office (PCO), it stated that Pascual’s resignation will be effective come August 2, 2024.
President Ferdinand Marcos, Jr. met Pascual at Malacanang Palace to accept his resignation and to acknowledge his invaluable service in “guiding the restoration and transformation of the Philippine economy.”
“His focus on MSMEs (micro, small, and medium enterprises) 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,” Marcos said.
The Palace assured the public that the search for a successor will commence immediately to ensure a “seamless transition” and “continuity in the Department’s initiatives.”
(Courtesy of Presidential Communications Office)
In a separate statement released by the DTI, Pascual confirmed the resignation, saying that the role of Trade Secretary “has been one of the most challenging yet fulfilling experiences of my career.”
“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,” Pascual said in a statement.
Pascual continues, “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.”
He also thanked President Marcos for the opportunity to serve the country under his leadership and contribute to the building of a Bagong Pilipinas.
