PSDF (Punjab Skills Development Fund) provides funds to private, public and not-for-profit sector training service providers that deliver quality training’s in various employable trades for the individuals of all the 36 districts of Punjab. PSDF intends to stimulate a market for skills-provision where training institutions would compete effectively through a process of furnishing expression of interest followed by a detailed technical and financial proposal. These proposals are ranked according to internationally recognised service procurement processes. The entities which score highest are selected for the provision of skills.
PSDF itself does not conduct or organise skills training neither does it set up any vocational training facility. It only funds proposals of vocational training’s leveraging the existing infrastructure and facilities. PSDF encourages partnerships and consortium’s of private entities, firms and businesses to bid for the provision of vocational skills under its various schemes.
The Fund also supports business models that generate profitability for the private sector training providers engaging in skills development for the poor and vulnerable.
Under various schemes of PSDF, training providers are asked to propose vocational trainings in skills that are demanded by the industry and the labor market, therefore would enhance the prospects of employability (both self-employment and wage) for the vulnerable communities not just in their hometowns but at national and international levels.
PSDF has also steered its approach towards sector-oriented skills development. Rendering to this methodology, the Fund has launched multiple schemes of skills development to support key industrial sectors of the Punjab with the provision of skilled manpower. The schemes are launched after rigorous research to identify the skills deficiencies in a particular sector. These evidence-led interventions enhance the effectiveness of the trainings while enfolding the gap between the TVET (Technical Vocational Education and Training) sector and the industry at large.