Pascual quits as DTI chief

MANILA, Philippines — Trade Secretary Alfredo Pascual has resigned from his Cabinet post, the Presidential Communications Office (PCO) announced yesterday.

“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’s resignation as secretary of the Department of Trade and Industry (DTI) is effective Aug. 2.

During their meeting at Malacañang yesterday, President Marcos accepted Pascual’s resignation and acknowledged his “invaluable service” in guiding the restoration and transformation of the Philippine economy, PCO said.

“His focus on MSMEs (micro, small and medium-sized 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 was quoted as saying.

Pascual described his role as DTI chief as one of the most challenging yet fulfilling experiences of his career.

“Serving in the Marcos Jr. Cabinet has been an extraordinary privilege and honor. I take pride in our collective achievements at the DTI,” Pascual 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 said further.

Marcos named Pascual as his trade secretary in 2022.

Prior to his appointment to the DTI, Pascual served in the Management Association of the Philippines, Institute of Corporate Directors, Asian Development Bank and Asian Institute of Management, according to reports.

Pascual also served as president and co-chair of the University of the Philippines System from 2011 to 2017.

The PCO said the search for the new DTI chief would “commence immediately to ensure a seamless transition and continuity in the department’s initiatives.”