DTI Chief Pascual Resigns, Eyes Return to Private Sector

MANILA, Philippines – Trade Secretary Alfredo Pascual has resigned as the head of the Department of Trade and Industry (DTI), effective August 2, 2024, according to the Presidential Communications Office (PCO). Pascual announced his decision to return to the private sector, marking the end of his tenure in the Marcos Jr. Cabinet.

“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 stated.

Transition to Private Sector

Pascual, who was appointed by President Ferdinand Marcos Jr. in May 2022, cited his desire to contribute his expertise and experience in the private sector while spending more time with his family as reasons for his resignation.

Acknowledging Pascual’s Contributions

President Marcos Jr. expressed gratitude for Pascual’s service, particularly highlighting his focus on micro, small, and medium enterprises (MSMEs). “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.

Immediate Search for Successor

The PCO announced that the search for Pascual’s successor will begin immediately to ensure a seamless transition and continuity in the DTI’s initiatives.

Reflecting on His Tenure

In a separate statement, Pascual reflected on his time at the DTI, describing it as one of the most challenging yet fulfilling experiences of his 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.

Pascual also expressed his gratitude to President Marcos for the opportunity to contribute to the nation’s economic development and building of a “Bagong Pilipinas.”