Abad accepted yesterday his new appointment as president of the Philippine International Trade Corp. (PITC) by President Arroyo. Abad swaps places with another protégé of Mrs. Arroyo, incumbent PITC president Arthur Yap.
Press Secretary Ignacio Bunye made the announcement of the post swap between Abad and Yap yesterday after he admitted that his confirmation of Abad’s resignation from the NFA had been "premature."
Bunye confirmed Abad’s resignation during a regular press briefing in Malacañang — in response to reporters’ questions. The Press Secretary added that Abad had to resign his NFA post before he could assume his new post as PITC president.
The Press Secretary called Abad earlier this week to apologize for the premature statement.
According to Bunye, Abad was not pressured to resign, rather he had to give up his NFA post before he could assume a "higher position of responsibility."
"We would like to confirm that (Abad) has already accepted his designation as head of PITC and ... we’d like to confirm that (Yap) has been named NFA administrator effective immediately," Bunye said.
Abad’s assumption of the PITC post indicates a change of heart as he had earlier said he intended to return to the private sector and go back to teaching and spend more time with his family.