Sean Emmanuel Florendo

The Malacañang Palace, through the Presidential Communications Office (PCO), confirmed that the Department of Trade and Industry (DTI) Secretary Alfredo Pascual tendered his resignation letter on Wednesday, July 31.

Photos Courtesy of Manila Standard/PNA GenSan.

According to the PCO, Pascual requested President Ferdinand Marcos Jr. to step down from his post, citing a desire to return to the private sector and spend more time with his family.

“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. 

He expressed that serving under the Marcos administration was a privilege and honor and that he was proud of the DTI's achievements during his tenure.

Pascual’s resignation, granted by Marcos, will be effective on Aug. 2.

The PCO further recognized Pascual’s contributions to the economy, adding that his focus on Medium and Small Enterprises (MSME) has begun to yield positive results.

Marcos also said that while they are sorry to lose him, they respect his decision to return to the private sector.

“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,” Marcos said.

The PCO, meanwhile, mentioned that the search for a new DTI chief commenced immediately to ensure a smooth transition of the department’s processes.

Appointed by Marcos in May 2022, Pascual has a distinguished career, having held positions in several institutions before the DTI, namely the Management Association of the Philippines (MAP), Institute of Corporate Directors (ICD), Asian Development Bank (ADB), University of the Philippines (UP), and Asian Institute of Management (AIM).

He also served as the University of the Philippines’ President and Co-Chair from 2011 to 2017.