The search for a successor will begin immediately to ensure continuity as Secretary Alfredo “Fred” Pascual resigns from the Department of Trade and Industry (DTI), effective August 2, 2024.
The Presidential Communications Office announced his return to the private sector in a statement on Wednesday.
President Ferdinand Marcos Jr. met with Pascual at Malacañan Palace to accept his resignation and acknowledge his invaluable service to the economy, including his focus on policies to uplift micro, small and medium-sized enterprises, or 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," Marcos said in the statement.