Pascual resigns as trade secretary

Trade Secretary Alfredo Pascual | PHOTO: Official website of the Presidential Communications Office

MANILA, Philippines — Trade Secretary Alfredo Pascual resigned from his post, the Palace said on Wednesday.

According to the Presidential Communications Office (PCO), Pascual resigned from his post to return to the private sector.

His resignation will be effective on Aug. 2.

The PCO also said President Ferdinand Marcos Jr. accepted Pascual’s resignation after a meeting in Malacañang.

“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,” said Marcos, as quoted by PCO.

No successor has been named yet, but the PCO said the search for Pascual’s replacement “will commence immediately to ensure a seamless transition and continuity in the [Department of Trade and Industry’s] initiatives.”

Pascual confirmed that he resigned as DTI chief.

“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,” his statement read.

He also thanked Marcos for the opportunity and said his time serving in the Cabinet was an “extraordinary privilege and honor.”

According to Pascual, his role as DTi chief has been one the “most challenging yet fulfilling experiences” of his career.