Pascual resigns as head of trade

Trade Secretary Alfredo E. Pascual has resigned to return to the private sector, according to the president.dental communication Office (PCO).

In a statement, the PCO said President Ferdinand R. Marcos Jr. accepted Mr. Pascual’s resignation during a meeting at the palace.

“His focus on micro, small and medium enterprises was absolutely correct, and we are starting to see the fruits of that policy,” Marcos said.

“We are sorry to lose him, but we respect his decision that now is the time to return to the private sector.”

Mr. Pascual’s resignation will eFfect on August 2.

In a separate statement, Mr Pascual said his role at the helm of the Ministry of Trade and Industry has been “one of the most challenging yet full-fledged”.Fbad experiences from (his) career.”

“After much reFDuring this lecture I decided that it is time to return to the private sector. There, my roles will allow me to continue contributing my expertise and experience, while spending quality time with my family,” he said.

The PCO said the search for Mr Pascual’s successor will begin “immediately” “to ensure a seamless transition and continuity” at the department.

Mr Pascual, 76, was appointed trade minister in June 2022 and accompanied the president on his foreign trips in a bid to attract foreign investment.

He served as president of the Management Association of the Philippines and served as president of the University of the Philippines from 2011 to 2017.

He also loved TueFHe held various positions at the Institute of Corporate Directors and the Asian Development Bank and was professor of finance at the Asian Institute of Management.

Mr. Pascual also previously served as an independent director of listed companies such as SM Investments Corp., Megawide Construction Corp. and Concepcion Industrial Corp. Kyle Aristophere T. Atienza