DBM allots P15.2B under 2024 budget for TESDA’s skills development program

The Department of Budget and Management (DBM) has allocated P15.2 billion under the proposed P5.768-trillion 2024 National Expenditure Program (NEP) for the skills development and scholarship programs of the Technical Education and Skills Development Authority (TESDA).

In a statement on Wednesday, the DBM said the budget earmarked for TESDA’s programs affirms the Marcos administration’s commitment to fostering education and holistic skills development for Filipino youth.

“Access to quality education will also be at the forefront of the government’s education agenda through the Universal Access to Quality Tertiary Education (UAQTE),” said Budget Secretary Amenah Pangandaman.

In his budget message, President Ferdinand Marcos Jr. underscored the importance of addressing the issue of jobs and skills mismatch, while providing comprehensive training and education in emerging sectors is crucial in elevating the qualifications of the Filipino workforce.

“By implementing targeted programs and initiatives, we can bridge the gap between job requirements and workers’ skills by equipping them with the necessary expertise to thrive in evolving industries,” said the President.

“As the country’s economy continues to recover and the need for more skilled workers continues to rise, it is crucial to retrain, reskill, and retool our workforce,” said Marcos.

Broken down, the P3.4 billion of the P15.2 billion allocation for TESDA’s programs will be set aside for Free Technical-Vocational Education and Training initiative, which forms part of the UAQTE program and will benefit approximately 38,179 enrollees and 10,126 graduates.

Another P200 million will be allocated to the Private Educational Student Financial Assistance (PESFA) program to provide training fees and allowances for 9,708 students and 8,737 graduates.

Likewise, P1.8 billion will be earmarked for the Supporting Innovation in the Philippine Technical and Vocational Education and Training System (SIPTVETS) program.

The SIPTVETS program is intended to align the preparedness of the Filipino workforce, particularly the mid-level sector, to international competitiveness.

Meanwhile, P3.2 billion will be funneled to the  Training for Work Scholarship program, an initiative designed to offer targeted skills training, aimed at addressing gaps in knowledge and fulfilling the necessary job requirements identified by priority industries and sectors.

The Training for Work Scholarship program is seen to benefit 147,990 students, with an anticipated graduation rate of 133,191 individuals.

TESDA’s Special Training for Employment program will have a budget of P1.3 billion next year.

The DBM said the funding will be primarily utilized to cover the allowance stipends and provide starter toolkits for the anticipated 47,664 program enrollees, as well as the 42,897 prospective graduates.

The endeavor is aimed to bolster hands-on vocational skills, fostering economic self-sufficiency amongst the associated demography.

The Tulong Trabaho scholarship initiative, a program devised to combat unemployment and discrepancies in job skills, has been allocated a budget of P1 billion.

This program provides Selected Training Programs (STPs) to the expected 48,653 program enrollees and 43,787 potential graduates.

The scholarship program was brought into existence through Republic Act No. 11230, according to the DBM.—AOL, GMA Integrated News