Metro Manila, Philippines – Trade Secretary Alfredo Pascual has resigned from his post, the Presidential Communications Office (PCO) announced on Wednesday, July 31.

PCO said the resignation of Pascual, who is transitioning back to the private sector, will take effect on Aug. 2.

“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 in a separate statement.

“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,” he added.

Pascual said his tenure as trade chief “has been one of the most challenging yet fulfilling experiences” of his career. He was president of the Management Association of the Philippines before assuming the DTI portfolio.

He thanked President Ferdinand Marcos Jr. for providing him the opportunity to be a public servant.

Marcos accepted Pascual’s resignation in a meeting at Malacañan Palace.

“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.

Other high-level officials who have resigned were:

Vice President Sara Duterte as education secretary effective July 19;

Marcos’ campaign manager Vic Rodriguez as executive secretary to spend more time with his family;

And Trixie Cruz-Angeles as press secretary citing health concerns.

-Daniza Fernandez