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Alfredo Pascual is stepping down as trade secretary effective August 2 as he transitions back to the private sector
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President Ferdinand Marcos, Jr. has accepted Pascual’s resignation
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The search for a successor will commence immediately to ensure a seamless transition and continuity in the Department of Trade and Industry’s initiatives
Alfredo Pascual is stepping down as trade secretary effective August 2 as he transitions back to the private sector, the Presidential Communications Office (PCO) announced.
PCO in a statement on August 1 said President Ferdinand Marcos, Jr. met Pascual to accept his resignation and 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.
PCO said the search for a successor will commence immediately to ensure a seamless transition and continuity in the Department of Trade and Industry’s (DTI) initiatives.
Pascual took over DTI in June 2022. Prior to his appointment, he was president of the Management Association of the Philippines. For over four decades, he took roles as governance advocate, academic leader, international development banker, and management educator. Some of his roles included president and co-chair of the University of the Philippines (UP) System, several positions at the Asian Development Bank, and president and CEO of Institute of Corporate Directors.
He was also an independent director on the board of publicly listed companies, and board member of non-profits and other organizations, such as the Philippine Institute of Development Studies, International Rice Research Institute, ICD, Institute for Solidarity in Asia, FINEX Academy, UP Foundation, UP CIFAL Philippines, Philippine Council for Foreign Relations, and US-Philippines Society.
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